Hive Now Up nearly 113%
Since the AMA with Ciara Sun From Huobi Global, HIVE has been seeing a record-setting amount of activity.
The All-Time High has moved from a little under $0.34 USD just about four weeks ago to just over $0.40 USD. This after falling back under $0.15 USD for most of the intervening time.
The HIVE Dollar has moved with it during this latest surge, and is the closest to $1 USD I've seen it since launch.
According to CoinGecko, the vast majority of the current 37.4 million in 24 hour trading volume is from Huobi Global (78.07%), through its USDT pairing. Hive's BTC pair on the exchange is the next highest at 10.05%.
As you can see, that's pushed HIVE to No. 44 overall (according to CoinGecko) at a market cap of $135.4 million.
Will HIVE Hold?
As always, that's the $ 1 billion HIVE question, isn't it?
I'm far from the expert, and one of the least qualified to answer that, so I won't try, other than to express a little hope. Since HIVE is still new and the true value is still being sought, I wouldn't be surprised to see some pretty major fluctuations as this continues to roll along.
What I would hope to see, though, is a new floor established, as true investors who are looking for value in the long term, along with us community members, dig in.
The Downside
Always has to be one, but it might not be a lasting one. It being those of us still in the middle of a power down on STEEM looking to convert and power up into HIVE just lost our favorable STEEM to HIVE ratios we've been enjoying over the last couple of weeks or so.
At present, (according to Blocktrades, who has reopened the STEEM/HIVE pair) the conversion from STEEM to HIVE would be 40.044 HIVE for every 100 STEEM.
Worth holding on to some liquid STEEM for the two to move back towards one another?
Not my call. That's solely up to you to decide. In my case, I don't have much of anything liquid until the next power down takes place early next week, so I won't make a decision until then. I did previously hold onto two weeks worth hoping for a better trade ratio, and that was when it was much more favorable. I really should have held a little longer.
The Future Is...Now?
In reality, who knows. For my part, I'm hoping there's much, much, much more to come. A price that becomes more than just speculation and builds in between the inevitable pumps and dumps would be nice.
Getting onto more exchanges like Huobi Global (who will hopefully follow through and soon make it possible for US residents to use their exchange), certainly isn't hurting the short term value, which hopefully does bold well for the long term.
If history is any indicator of what the future brings, HIVE has some time to prove itself, but that window can shut quickly, too.
*Image sources—Coinbase, CoinGecko, Blocktrades