Binance added HIVE to its futures platform a couple weeks back. This was something that was not given a great deal of publicity on Hive but was an important step.

It was well known that pumps were driven mostly by one single Korean exchance. Since that is closed to outisiders, and there is a fair bit of HIVE on the exchange, the Koreans has the ability to push the price where desired. At times, there were some pretty big pumps, followed by the ineviatble dumps.

Binance is one of the largest global crypto exchanges. Adding the HIVE/USDT pair to its future platform was an enormous step. This opened up a host of possibilities, including institutionts to get involved with HIVE.

Of course, we have to state that this has nothing to do with the token. A futures constract is a derivative based upon some underlying asset. It is, however, a vehicle for trading.

Also, the impact of futures on the asset it is associated with can be huge.

HIVE Pump And Futures Volume Exploding

Here is what the futures page looks like at the moment.

As we can see, there is over $200 million in volume over the last 24 hours. This is in addition to any activity that took place with the token itself. According to Coingecko, there is roughly $325 million in volume on centralized exchanges over the last day. The internal market is close to $100k, giving a trading volume on the coin of $425 million.

That means the Binance futures market is roughly half of what the coin traded. It is actually less if we include some of the other exchanges that have futures trading

Is Binance having any impact?

It is hard to tell. The Koreans are known to pump the coin, something they have been doing for years. However, with such a large pool for futures trading, things could be changing.

How powerful can this be? It is not unheard of for the derivative to lead the price of the underlying asset.

For example, there was a periond (which lasted a number of years) where the options market was what drove the price of Apple. The volume was so great on the options market, with so much traded, that it actually overwhelmed the stock moves.

Is this the case here? There is no way to tell. However, having added liquidity is always a help.

Will this be sustained? Again, who knows. The only thing we can do is enjoy the ride while it lasts.