The late 2017 mooning was pretty much unsustainable across the board, much like the tech stock insanity around 2000-01. It was driven by a strange kind of irrational euphoria.

The thing about Steem... which was the "bones" that became Hive... is that it has been undervalued for a long time, largely kept down by the ineptitude of certain players from the "old management." That's now removed and it seems like things are happening... and what we're seeing now is partly the markets pricing that improvement in.