I'm feeling pretty silly with my 1.11 HBD bids, as HIVE has climbed to over 2.75 USD each.
At this price we are rank #135 on coingecko.
I wonder how many people are powering down?
Source - penguin Pablo
In the time of writing this post, HIVE has surpassed 3 dollars
Why is it pumping so hard?
Because there is no supply left.
Markets will have to wait for power downs or dumpers, and right now it seems like HIVE is caught in a supply squeeze.
Power downs come slow, 1/13th after 7 days, and 1/13th each 7 days after that.
Surely some people will start some power downs with HIVE at $3?
Let's take a look at our market cap:
Courtesy of Coin Gecko
We are just under a billion dollars, our great decentralized HIVE project. The trading volume today is off the charts, clocking in at 116% of market cap.
Listening to the Community Coin Talks has me thinking that this protocol is still way undervalued.
Another way to think about it:
The money attack has begun.
Do you want to have stake in the future of decentralized governance? Or at least the HIVE part of that? The price of that is the opportunity cost of not selling. Holding on to some HP.
I, like other long time users, have been waiting for this for a long time, and will be selling HIVE. But I will also try to buy back dips and will at all times keep more than a certain amount of HP. The amount I will keep in my head for now, in case I change my mind 😅
Keeping stable coins is something I am learning more about, and I am really happy about our own stable coin, HBD. It has continued to grow and expand its use cases, and as HIVE goes up we will be able to print more of it. I plan to hang on to some of it and earn some interest some where or another.
But in the end, the holders of the HIVE coins will have a say in the future governance of the network. Make sure you save some, because we don't know when or if it will come back down.