Hive price is heavily impacted by Upbit ... months ago we started to see the balance of HIVE on Upbit going down, and coins move to Binance ... meaning HIVE is being dumped on Upbit and arbs are moving coins to Binance .... Upbit had 140M in HIVE, now is 118M, Binance had 26M now is 40M.
Honestly I hope this process continues and their is less HIVE on Upbit, since that many coins are a weak point and treat to the chain itself... hope we get even down to 50M HIVE on Upbit... users who wants to accumulate let them have their chance :)
Nice to hear that Upbit is unloading that was becoming such a heinous systemic threat.
Probably by this time HIVE will be around $0.10
Great entry price :)
I must admit that's far too close to HBD haircut territory for my taste !
It's not though because the haircut will move down with the price.
There's a 1000% chance that HBD will be converted to Hive during that time.
Also being close to the haircut is not a big deal at the bottom of the market.
Yup, people think that is crazy but it’s actually likely at this point. I said .22 was my target for June when I did my end of May vlog here, looks like I was not bearish enough even though everyone commented I had to be wrong. .18 cents is a certainty. .10 possible
It is good to drain Upbit. Thanks for the info.
That’s not the main reason. The main reason is a lot of hive accounts powering down and selling plus no new user growth
Thanks for the info, who will pay all the HBD interest and DAO now then?
Bottom line is power downs and selling is way bigger than power ups and buying.
More seller then buyers :)
Bottom line is that yes, and this usualy comes to around 1.5M HIVE per month, there are now millions of HIVE dumped in a day, that is from the liquid supply on Upbit and whoever is holding those coins there, that have been accumulating for years
I fear the worst for Hive at this stage. It looks like a dying project. We may be left holding the bags. Rats leaving the sinking ship, why would holders be selling at this poor price?
Its mostly whoever was holding Hive on Upbit ... there is like 120M HIVE on Upbit ...
that's actually great to hear; although there is still quite bit left. I hope we get at least a better distribution from this