In the last month the HBD supply has decreased from 12M to 11.7M HBD.

Interesting. But wat could be the specific reason for this decline in the last month?

Do you think HIVE is self-adjusting token in the context of supply, that is why it trades in a close range and even during the bull cycle, it can only produce a spike to correct later on. Do you think that virtual supply acts as an internal stabilizer for the HIVE price?