LEO is giving Hive users something to speculate on
I find it safe to speak true here on INLEO
I remember getting downvoted for simply mentioning hive inflation being a major killer for price
But it's true. Hive is not the best option for people whose goal is to buy a cryptocurrency and then cash out after a massive pump.
Hive is meant to buy so you can participate with all the various social front ends
Someone who uses PeakD might not even know INLEO exists or vice versa, or someone using hiveblog might not know anything else exists at all
But regardless of which corner of this blockchain you spend your time you can still find a way to come across a post from not your neighbourhood
So for a while, people who wished to speculate, would cash out their hive yield to buy bitcoin, or ethereum or something else
But LEO did something different
They went deflationary and built multiple streams of buy pressure for their LEO token
We have seen what happened when Binance launched BNB and then the various ways it gave their token utility. from lower trading fees, referral bonuses, buy and burns, launchpad currency of choice... they really did a lot for bnb which is why it went from a quarter to where it is now
LEO can do this and more.
For one leostrategy alone has a goal to get 10,000,000 coins, there is less than 30,000,000 since that was the cap and some tokens are already considered burnt
So now. People who wanted to take their hive rewards and cash them out for something else have something to cash it out for but still keep that energy on hive instead of out of hive
There are of course ways to get rid of hive for something else without hurting the price or the community, which is why you often see people get mad at whales who market sell and clip the chart real hard. There are better ways to cash out but some people are too ignorant to learn about efficient ways to dump
I for one prefer being able to buy something on hive and I personally think LEO is destined to go high assuming no one gets short sighted or hacked lol
LEO focusing on growing all their revenue generating streams can be a cheat code that makes LEO a permabull token that has multiple blow off tops