When one comes onboard hive ecosystem, you get familiar with HIVE first because it is undoubtedly pronounced before HBD makes itself known but there's not much comprehension to Hive stablecoin Hive Backed Dollar.
For me, it's only but recently I started to gain knowledge about the workings of HBD and how important it is to the ecosystem.
My mention of tales about HBD is because learning that the remarkable adoption of HBD could do wonders to the price of HIVE.
As important as HIVE is, that's the same way the stablecoin HBD is.
The two invariably cannot be separated and it's like they are tied to themselves.
Coming into hive blockchain, my mind was always tied to the skyrocketing of HIVE price, I can remember when hive price reached $3.
It was light hallelujah.
Being enthusiastic about cryptocurrency, hive was my only concentration, I had no thought to what a stablecoin was so I had a less regard for HBD.
It really sounds interesting to keep on mentioning stablecoin, as I always waited for HBD to go above $1 but the good thing was that it never went below $0.80.
Truth is HBD started taking a greater notice of with hive witnesses increasing its interest rate when saved to 20% APR and HBD being wrapped to polygon network as Polygon HBD, PHBD and farmed as PHBD-USDC in PolyCUB.
As we should know with more HBD that is in circulation and supplied, hive price could make a good turn.
The bigger picture should always be set in course because that's the way to go.
Today, much light is on stablecoin as there's much confidence and more adoption for commercial use.
When cryptocurrency is talked about, you simply can't take away its volatility nature away.
Stablecoin instead does take away that volatility nature because there's less loss as the price is regulated.
HBD takes that stand when it gains much adoption.
More work has been put into HBD for to be created (its demand), and to deliver more to be accumulated (its supply).
Two things are required today to put HBD on a pedestal, putting HBD into savings to acquire 20% APR that would lead to more HBD in supply or buy more HBD and swap, staking in the PolyCUB farm.
Thanks for visiting my blog, till next time.