Binance is one of their recent articles announced that Hive BTC pair is going live today. We all know that a few days back Huobi Exchange announced their listing of Hive tokens. Along with the listing announcement they also mentioned that there will be some rewards to the top 100 Hive holders on their exchange. This is something like an airdrop they do from their pockets. I'm not sure if that was the reason but it already created a great FOMO among the people and the price of Hive pumped to almost hit 1$.
The price is still not in the downtrend and the party is still on. When I woke and saw the price, it was still very strong. Now that Binance has confirmed their listing, there can be another possibility for a pump or a serious dump. I cannot say that for sure but maybe people might try to trade on Binance after the listing because for many people their funds are locked on Binance. After Binance powered up their tokens to vote on the witnesses, they are one of the high stake holders of Hive right now. Let's check this out with some data.
Top 20 HP holders
Though the above list looks good, I also tried checking the top liquid fund holders on Hive. I don't see any big liquidity they have right now to support people who try to withdraw. When they open their exchange, there is a high possibility that people might try to move out of their funds. At the same time, people might even try to deposit more to do further trading. It is unpredictable as to which direction this news will take the price graph.
Top 20 liquid Hive holders
Did Binance pump the price of Hive?
This is just a theory and a possibility that I'm thinking aloud. If we check the above list, Binance is now in a decent position number 4 with decent liquid tokens to support withdrawal as well. Binance made a mistake by powering up all the Steem that were actually customer funds. But they did regret for doing that and they told they will stand with the community. I have been thinking that Binance was always buying liquid funds from the market to keep the deposits and withdrawal going smooth for their steem.
From the looks of it, I don't think their staked tokens matter so much now because they have decent liquidity. So where did this liquidity come from? Is there a possibility that Binance was This also reveals a possibility that Binance had been buying liquid Hive from the market to make sure they are ready for supporting people who would like to withdraw their tokens after they list Hive on their exchange.
And from my analysis, the above screenshot was taken by me yesterday and the top 20 list that I have mentioned a little above that was taken right now. Comparing both, binance moved from position 5 to position 4 by increasing their liquid tokens by around 2,000,000. I believe this should have come only from the market. So, they would have purchased it from the market to get ready for their listing. I'm not trying to say that this 2 million is moving the market right now but just that they would have done this in the past few weeks to get ready for the listing. This is just my theory. Let me know your thoughts in the comments section.