I'm sure many of us were surprised today to see the price of Steem surge upwards and eventually match the price of Hive, only to then fall by nearly 33% again... Seems someone got a bit exuberant with their support for the legacy chain! 😂
While it was definitely a surprise to see Steem surge during the current market excitement, probably driven by the BTC news that has already been well covered in the media - it's not entirely a negative for Hive. In reality, despite Steem being the Darth Vader to Hive's Luke Skywalker, 'no press is bad press'! Any attention that Steem generates (somehow - and up to a reasonable point) may cause people to explore what it is and then may lead them to also discover Hive.
It has certainly been a tendency for Hive marketing to stay away from mentioning Steem publicly, but with the upcoming release/promotion of the 'Freechain' documentary that was seen live at Hivefest in Mexico - which tells the story of the forking of Hive from Steem, we now have a straight forward way to educate outsiders on the topic.
I am excited to see that we are reaching the convergence of numerous projects and objectives on Hive that should not only see Hive's functionality and usage explode in the next 1-2 years, but we are also bridging gaps that allow us to profit from all of our hard work back on Steem that was then effectively usurped by the current operators of Steem. It is now easier than ever to educate Steem supporters as to why Hive is the obviously superior choice when looking for a SocialFi community system.
There's definitely the potential for some unexpected ghost 👻 action yet to come, but the future for Hive is now definitely a lot less maze like!
Wishing you well,
Ura Soul
Read My User Guide for Hive Here
Powerful insights into the Hive blockchain are available at my website, Hive Alive.
Including the only way to track downvotes on Hive - The Untrending report
I was not surprised, I was shocked. I can't believe how they manipulate the market.
It seems like all the trading came from Binance, not that that really tells us much.
I'm a newbie in crypto world but that doesn't seem normal even to me
Well, Justin Sun who bought Steemit.com has a long history of extremely dubious behaviour, but ultimately this could have been done by anyone with enough millions of dollars to gamble.
Unfortunately, the market manipulation in crypto is rife, but it is only the same manipulation that has been ongoing in traditional markets too, since the beginning. Research the Wyckoff Distribution for more info ;).
Yeah, old same game
. Just a little more obvious in Crypto (due to limited supplies..)
Next step is to dismantle the Middlemen preying on crypto
The big thing about Crypto was to get rid of middlemen
Not have them all between with their big centralized exchanges
Thank you so much for informing man. I know Jstn but didn't know that Wyckoff Distribution thing.
Lol, what a sell Off.
I'm enjoying your content more and more Ura - glad I spotted you on Twitter and followed back over. Definitely a compelling reason to keep at least a foot in Web2.
I posted this Meme elsewhere but thought you might enjoy it.
Ahoy, thanks, I'm glad you are entertained :)
The evolution of the blockchains definitely has a legendary quality to those with eyes to see, yes! 🤓
And pacman went boop