Hi there my Hivean friends and followers!
It has been a while since we had a nice Hive pump and I think we are all excited to see the one that is taking place on the market right now. That´s right, Hive is pumping (I hope you got my lame pun referring to Arnold Schwarzenegger´s iconic motto about pumping iron) so let´s take a look at what exactly is happening here and possibly also why.
Usually, in the past, these sudden massive pumps were caused by moves on the South Korean markets but looking at the time of the beginning of this pump suggests it may not actually be the case this time. According to CoinGecko, the pump started at pretty much exactly 1 A.M. my time (CET), which was 9 A.M. in South Korea.
Today is Saturday so it doesn´t seem very probable to me that such massive buying would take place so early in the morning during the weekend. Here in Europe, it was already after midnight (or around midnight, depending on where exactly in Europe you live), which doesn´t seem to be a good time for trading of such a giant scale either so maybe, it was our crypto fellas in the Americas who triggered this pump. Was that really you guys? :D
As for the pump itself, it caused our beloved coin to rise by almost 40% and during the peak of the pump (so far), the price even broke through the $0.60 mark, which is really impressive.
This price spike immediately capatulted Hive into the Top 200 coins by market cap as we are currently sitting in the 180th spot (before the pump, as far as I remember, we were hovering around the 220th spot). The 24h trading volume has increased dramatically as well...
As of this this writing, the 24h volume is almost $350 million and if the pump keeps going for a bit longer, we can easily hit $0.5 billion, which would be absolutely smashing because normally, in quiet times, the 24h volume of Hive is just a few million dollars.
So yeah, these are pretty exciting numbers here and we will see what happens in the next few hours and days. After such a massive pump, a pullback is almost sure to be expected but it would be really cool if the price stayed around or above the $0.5 mark and also if Hive stayed in the Top 200 where it absolutely belongs. I know it belongs much higher than where we are even now but let´s take it step by step ;)
What do you guys think of this pump? Have you managed to make some profit out of it? If I had some liquid Hive right now, I would probably sell it for HBD on the internal market and then, when the pullback comes, I would just buy it back but I have been lately putting everything into my Hive Power and Savings so unfortunately, no available liquids for me to play with :D :(
Btw I just checked the price of HBD and it´s where it´s supposed to be, at $1, which is good. A stable should be stable, no matter what ;)
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