About 1,5 million dollars worth of Hive dumped

Unlike the pumps we have seen the last few years of Hive, this dump wasn’t caused by incredible volume on Korean exchanges. The volume the last 24 hours was around 3,5 million dollars worth of Hive. Of which 60 procent was exchanged on Binance.

Approximately 1,5 million dollars worth of Hive got dumped into the market, taking Hive’s price down over 10 %. That is 5 million Hive which is over 1 % of the total Hive in circulation. That’s a lot in just a few hours. Especially if you realise that 150 million Hive is staked into Hive Power.

Who or what dumped?

Who was behind this dump? Is it still a share of Justin Sun’s stack he got with the fork of Hive from Steem? Or is it a whale that has lost faith in the project and sold his stake? All big questions, to which I don’t have the resources to find out. But I am sure @arcange or other statistics lovers on this platform will have their ways to find out where this dump originated.

This isn’t devastating, but it isn’t fun to see Hive drop so hard in one day.

One thing is good for this, we get rewarded more Hive for our posts, as the price is lower. It’s always good for something. These are the days where the money of the future is made!

Sincerely,

Pele23