With the recent dump in the crypto market, the total market cap has decreased to less than 1 Trillion after a long while. On Coinmarketcap, The global crypto market cap is $966.28B again.
Some technical analysts enjoy supporting their price predictions with possible crypto market capitalization levels to strengthen their theories. Though it is not one of the methods that I use, I care about the market shares of the projects at certain times of crypto market cycles.
Let's see some charts and comment on them.
Global Market Cap Chart
Fortune, TradingView, Coingecko, and Coinmarketcap provide several global charts for us to utilize when we need them.
If you want to reach these Global Charts, visit Coingecko:
Here we see the All-time high level of Crypto market capitalization . November 9th was the day we surpassed 3T Marketcap for the first time.
What was the situation of Hive when the market had x3 more capitalization?
In November 2021, many altcoins reached their highest marketcap levels. So, Hive also had the same experience and the total market cap was $1.1B when Crypto was at the top!
When the market tested ATH, Hive had about 0.03% market share.I think this is a nice percentage for those days.
Today:
With the bear season, altcoins lost more value than Bitcoin and Ethereum (besides stablecoins). So, the decreasing percentage is quite normal.
The Factors of 0.03% in 2021
When we flashback to those days, we had interest in Hive & Hive products as the major reason of increase in value + marketcap. Besides, Splinterlands was the second reason of rush into Hive ecosystem.
Blog2Earn and Play2Earn were the paradigms in that our growing ecosystem had a nice market share. We can also add FreeSpeech concerns and the interest on 3Speak & Dtube.
Crypto Market Grows, HIVE Follows
Fortunebusinessinsights and many giant institutions know that the crypto market will grow with the increasing interest all around the world.
Assuming that Hive sustains its market domination tests 0,10% in the long run, I believe it is quite likely to see $10 for HIVE if crypto market grows x4 x5 from current levels.
There is more need for Hive accounts and Resource Credits for projects on Hive. The base of gaming (Splinterlands, Dcrops, RisingStar, Rabona); the base of Freespech (3Speak), and leading blog2earn platform that enables to earn both Hive and Layer 2 tokens such as LEO and CTP.
Besides all these great things, HBD may also grab a decent level of liquidity with 20% APR and for cross-chain operations via PolyCUB and CUB De-Fi.
Staying at 126th position in the market with 0.02% market domination, HIVE has a huge potential due to the things that we mentioned. In the bull-run, testing 0.10% market domination is a reasonable expectation considering the performance of HIVE so far 🔥
Do you have any prediction of Hive market domination or HIVE price for the next bull run?
Share with us 😉