All Hive Witnesses are asked to vote how much each HIVE is worth in terms of HBD, and the median of the votes of the Top 20 Witnesses determine the resulting value of HIVE in HBD (that is followed whenever giving author rewards or converting between HIVE and HBD). 🤓 That means HBD itself is not directly tied to USD, but only algorithmically pegged to it. 😏

Normally, operators of Hive Witness nodes look for the prices of cryptocurrency exchanges to determine what price to vote on (mostly using bots to do so). 📊 It's technically possible for the Hive Witnesses to vote much higher or lower than the price of HIVE in external exchanges, but it would obviously cause problems with the prices of HIVE, HBD, and other tokens on Hive. 🤯😅

My screenshot of the #PeakD Witnesses Page shows how much each of the Witnesses vote for the price of HIVE in terms of USD. 🤓 You can see it on the Price Feed on the right side of the image below. 👇

!LUV !CTP