Steemit Inc owned majority of Steem tokens. Steemit Inc was purchased by Justin Sun from Tron fame. Justin announced Steem would become a side to Tron. Community freaks and issues soft fork to limit Steemit Inc stake voting. Justin freaks and colludes with exchanges to use customer funds to take over Steem chain. Chain is fought over for a month in a stalemate between Sun/Steem community. Hive is formed as fork of Steem without Steemit Inc stake included. Fork happens everyone leaves Steem and moved to Hive. People selling their Steem tokens since they now have Hive and Steem is dead.