We have plenty of crypto stocks priced under the dollar in the crypto market. Many of them are still trending in the marketplaces, barely moving beyond 50 cents. Some of them never even crossed 10 cents.
A lot of such penny stock cryptos don't serve many purposes. A lot of them lack use cases (exception TRON), but apart from that, most of the penny stock cryptos are placed as if it is trolling the makers of those coins.
Where does the Hive fit into this? Is it just another penny stock crypto?
Hive has a Use Case
Hive has splinterlands, leofinance, dcity, drops, and many other games and tribes that are fueling the economy of the Hive. A lot of tokens within the hive are basically serving the economy based on its usage.
Unlike Dogecoin or most of those clone coins, which are nothing but troll attempts in the market, you will find that Hive is serving a purpose. It's a serious business of content creators, developers, and business people.
Hive has potential to cross dollar, It did in the Past
Hive crossed prices larger than a dollar in the past, so it is technically not a penny stock crypto coin. It may have a low price as of now, but once the market appreciates, it would get higher pricing based on the investment from outside.
Compare this to the TRON and STEEM, they are not going to be rising anymore. And with each day they are going to be dead and buried soon. Hive has potential, and it has proved itself beyond the penny stock level of the crypto coins.
Hive is not dependent on Celebrity Market
Dogecoin moves it's price based on the Elon Musk's push. A single tweet and support from celebs on Twitter can move some of the coins. In that context, we don't have any celebs pushing the Hive. Yet we are staying decent level with the development of the ecosystem.
So by not needing the big guns, we are basically playing by the strength. Moreover, we are not relying on the market, which is often artificially boosted in its price. So let us see if this makes the coin stronger in the long run.
Hive has a potential to become one of the Top 20 coins. All it needs the increase in adoption among the consumers. Once it does, it won't be compared with the altcoins under dollar as if it is some penny stock.
What do you think?
Penny stock crypto coins are trolling the market. You can invest in them if you have the trading mindset and can see through the rug pulls. However, it is always a good idea to invest in coins with a use case, and the hive is just that. :)
What is your opinion?