We have entered the $1 Hive price again and once again we can’t wait for the market cap to get to $1 Billion. Currently, the market cap is $400 Million, this means that we need $600 Million to be at $1 Billion Market Cap again. Hive is extremely undervalued, which is something we know, currently it seems the Koreans are the only ones benefitting the trading value of Hive, that’s the reason we get the occasional pumps and dumps. But imagine when more people start trading Hive, not just for the pump and dump reason but for its utility.
One thing I know for sure that lots of people will love about Hive is the HBD savings feature. Imagine getting the information that there is a decentralized place where all you have to do is put your money in its stablecoin savings and you earn 12% APR. No risk, it takes 3.5 days to withdraw from savings and you are good to go. Which is a great utility that will give more people reasons to want to use Hive.
Lots of people saw a reason to get a hive account through splinterlands, the price pumped because, you can’t access splinterlands without having a Hive account, you also can’t do lots of things on splinterlands without resource credit, this means you need to buy Hive, power it up and you have Hive power. Splinterlands have been gaining a lot of attraction, it’s attraction is not as high as that of SANDBOX or Axie infinity but it’s getting there.
But then, splinterlands can’t be the only reason Hive is going to get over blown in the future, we have other play to earns and other utilities. Do you know that NFTs can be minted off Hive through NFTShowroom and that’s not the only NFT platform on Hive. We have the NFTMart, HivePunks, DLux, NFTTunz and inji.
Back to $1 Billion market cap, the last time we saw Hive Market Cap at $1 Billion that was when Hive’s price was above $3. That time made me think that we are closer to getting to $5 more than $1. But look at us now, having a little celebration of Hive at $1.
One aspect of Hive that I believe will also get blown in the future with time is the Hive engine tokens. Especially those Hive engine tokens tribe with frontends. Leofinance is one of the only unique tribe or community that have a frontend that is completely different from the rest. Other tribe frontends look the same with little differences like color and names change. When the world starts paying attention to Hive, Hiveengine tokens and other front ends will see a massive inflow of wealth into the blockchain.