It is now two weeks since the big fork that resulted in two chains, the Steem chain, and the Hive chain. From the first moment after the fork, the Hive token has been more expensive, and seemingly, more popular among the crowds. In fact, lots of people sold all their Steem tokens and changed them into Hive tokens. In great part, this resulted in a price increase of the Hive token that took it above 5000 Sats at the highest.
The Hive price is the red line, while the light green/red at the bottom is the Steem price.
But, today, exactly two weeks after the fork, the prices have evened out, and currently, the price of a Steem token is 2680 Sats at Bittrex, while the price of a Hive token at the same exchange is 2580. Now, that is quite a big change, but does it have to mean anything at all?
Low volume for Hive
Hive is still running on a low trading volume, meaning that an increase in volume will lead to a quick increase in price. In other words, it for sure has a potential of increase, if the demand arises. But, currently, the demand doesn't seem to be very high. There might be many reasons for this, but the first boom that came with people selling Steem to buy Hive is now over, and it might be that we have returned to the normal daily life.
Does this have to mean a thing?
People on the Steem platform will for sure consider this a victory for the Steem token, and in a way, it might feel like a little success for them. But, in the long run, I wouldn't pay much attention to this. The question is rather, where will the people stay active?
@Crypto.piotr asked a question to his followers about whether they will move to Hive or remain on Steemit, or maybe remain at both in the following article: @crypto.piotr/dpoll-are-you-staying-on-steem-moving-to-new-hive-or-trying-to-do-both
Well, the truth is, people are standing in between. Some have moved completely to Hive, but my feeling is that people are still posting much material to both platforms, and maybe plan on doing that even in the future. It is also important to understand that Steemit has been around for a much longer time, and as a result, the SEO of the domain is way better than Hive. But, for those blogging on this platform only with a goal of reaching people already on the platform, then the SEO part doesn't really matter so much. But, if your goal is to reach audience who isn't active on any of the platforms, and you want to reach them through your posts showing up in Google and Bing, then Steem/Steemit is still a better platform. But, I will come up with a big study on the SEO lower, but as of know, that is the short conclusion.
All in all, I wouldn't care too much!
We are still just into the start of this. The time will be the judge of which platform will win. Or maybe there will not be a winner, maybe both platforms will live and thrive into the future? Bitcoin Cash might not be Bitcoin, but they are still alive and well, battling side by side. So, who knows - maybe we will see two strong chains running side by side into the future?
What do you think? And, have you sold your Steem/Hive tokens, or are you holding onto everything?
I would love to hear your thoughts!