Yet in 2016 it was a top 10 coin, environment was different, back then it was easy to spot OKish projects, unlike now.
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Yet in 2016 it was a top 10 coin, environment was different, back then it was easy to spot OKish projects, unlike now.
Agree with the ranking statement, however it's important to look at the coins making up the rankings. There are at least 10 stable coins which should be removed as their price can't go up.
There are also tons of wrapped coins in the top 100. Bitcoin alone has 3 spots in the top 100 with Wrapped Bitcoin and Ren Bitcoin. In reality it's just one marketcap divided under different forms.
Compound and Aave also have coins making up the top 100 such as cUSDC or cETH, which also unfairly take extra spots as their market cap should be combined with USDC and ETH respectively.
Finally, exchange coins that have no use other than being a buyback token for exchanges or a way to get a discount on fees are a different beast. They are not technology projects just a way to capture a community for exchanges.
If we take all that into account, Hive is probably still in the top 100, which is impressive given all the new DeFi coins that did not exist back in 2016.
We have to expect a lower ranking with time as huge projects like Polkadot and Filecoin will always be above Hive, especially at lauch. They did not exist then.
Also, Steem was only top 10 (even top 3 at one point) during the pump, it gradually slumped down after that. Hive in comparison, reached top 30 when it pumped to $1, then went back down. Given all the new projects, I think this is fair.
I hope so too, I still have quite some Hive I havent sold yet. imho it's also easy to analyse when the possible pump will start, when the airdropped hive to those exchanges finish their dumping. Maybe another 3-6 months. Before that I doubt any big investors, both old or new one, will start buying in.
You might be right. And 3-6 months fits perfectly with the cycle timing I showed in the post...