With the market making an upturn at the moment, it would be interesting to see how different projects are performing against Hive. Normally we see prices in USD or in BTC, and it can be hard to understand how alt-coins are performing relative to Hive. As Hive citizens, we want to see Hive hold value, of course.
Based on the daily prices provided by Coingecko, I have crunched some numbers and priced some projects in terms of Hive to understand whether it is better to stay in Hive or in the alternative coins. By alternative, I included Bitcoin too.
In the charts below, the lower the points on the vertical axis (Price in Hive), the stronger the value of Hive. Just imagine Hive as your home currency (e.g. USD, EUR, JPY), you want the price of the alternative token to be depressed so that your Hive has more buying power.
Legend: The black line is the daily price, while the red line is the 30-day moving average.
Bitcoin
Ethereum
Binance
Solana
Cardano
CRO
Oasis Network (Rose)
Based on the few charts above, it seems that these alternative coins are losing value in Hive over the past few months. Well, we know that Hive enjoyed a spike of over $3 apiece not too long ago. Hopefully, these charts provide some inspiration to look deeper.
For me, with Hive now hovering above $1, I conclude that I can treat Hive as USD but potentially fundamentally stronger.
Do I move my stable coins to Hive or invest in alternative coins? I think Hive might be a safer bet.
P/S: This is certainly not financial advice, and the data points might be erroneous due to various reasons. Always do your own due diligence before investing.