Justin Sun has shown on several occasions his dislike for Hive and the Hive community. The biggest display of this was when he removed millions of Steem from the accounts of many prominent members of the Hive community and development teams. I believe Justin Sun is likely to attempt to sabotage the Hive blockchain. It is possible he would do this by restricting the increase in the price of Hive during the current Bull Run. He could attempt to do this by buying and selling large quantities of Hive. The significantly higher volumes (i.e. 24-hour trading volume of about four times the Hive market cap) without the typical very large spike in price could be evidence of manipulation.
I've been thinking in this since that last pump of Hive, in fact the price spikes at the night in Europe and Usa with most of the volume coming from Upbit (some asian investor) and then when the price goes down the increase of the volume comes from Binance (an exchange involved in all the Steem attack).
Maybe it's unrelated and a conspiracy theory but I do think also that someone doesn't want to see Hive skyrocketing.
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It is very suspicious. I don't how much Hive Justin or any of his friends have. They can't continuously dump Hive without buying more at some point. Hopefully, Justin has better things to do than mess with Hive. We will see what happens in the coming months.