RE: 11/20/24 📉 Mid-Week Wednesday Morning Market Vlog 🎙️
You are viewing a single comment's thread:
After listening to you talk about Hive and the DHF, I looked up the Steem price to compare, as Steem doesn't have a Fund that it doles out, and they haven't done any development since they reduced the power-down period to 4 weeks, four years ago. Steem just runs on autopilot (like Doge).
Anyway, Steem is at 21 cents, up 14.3% over a month, and up 8% over the week.
So, very similar performance to Hive.
It indicates that power-down periods and development funds arn't having much effect. Neither is interest on savings (Hive pays 15%, Steem doesn't pay anything). Neither is the value of the Hive/Steem dollar (HBD is pegged at $1, SDB price is set by the market and is currently $3).
I think maybe the key thing affecting them both is that both have the bulk of their coins on the South Korean exchanges, which are undergoing regulatory changes. I think someone (dalz?) said 70% of Hive coins are on South Korean exchanges - a legacy from before the Hive fork.
It's not ideal as there are not many Koreans on Hive, and non-Koreans have no access to the Korean exchanges. Am not sure how you'd get those coins to shift to Binance.
You make good points!
Yeah looking out at 12 month charts Steem is doing 15% better than Hive (both down on year chart but steem less). Which like u I agree Steem is just a chain with no real talent in chain activity like we have. Steem actually looked 25% better util this lil pump recently on Hive. It tells me there’s something sucking some value out of Hive in addition to this cycle being different then 2021 & 2017 where bitcoin is well beyond its ATH & besides a handful of winners 90% plus of Alts are nowhere near 2021 highs. Hive at .23 cents from $3.34 high. ETH well below $4900 high sitting at $3100. I believe this cycle is not everything go up like the past. I think many cryptos will move higher than today, but I think most don’t touch the 2021 ATH’s. I’ve been saying this for a year and most people telling me I’m crazy 😂
!PIMP