HIVE is not very attractive for investors (at least not yet).

If you hold liquid Hive, you are losing ~8% per year (4x more than USD, 2x more than ETH, BTC has under 2% inflation). If you power up, you will almost certainly miss out on any pump. Author rewards are given away but most of the posts don't bring any value to Hive. Constant sell pressure, and we can't blame Justin or pro-steem whales for dumping their stake anymore.

While tech matters, coins like TRON in the top 20 show that people care much more about hype.