Hive Highs | New ATH for Hive amid Splinterlands interest...?

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Other than being the weekend, Hive has started the fireworks early by finally cracking its previous all-time-high at $1.05 and set a new one at $1.15.

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This is an incredible moment to witness, especially because these are moves you often see during major crypto bull runs. But as things are right now, the hints of bullishness are only bubbling under the surface.

What is causing this bullish surge?


While I am not entirely certain, it is safe to say that recent interest in Splinterlands has had the very much intended consequence of putting the Hive blockchain in front of many eyes.

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Graph by Penguin Pablo showing the amount of Hive moved from exchanges.


An early goal for the Steem Hive blockchain was to create an ecosystem of Dapps that would aggregate niche users all on a single chain.

For example, people who like to blog about finance can find a niche home on Leofinance. People who love gaming and are interested in NFT's can also find a home on Splinterlands, and so on. The Hive blockchain benefits regardless because all these users will require a Hive account and they will most likely need to hold some of the Hive tokens in order to have resource credits.

To put it simply, Hive is the foundation on which value is built.

Can this be sustained?


This is a difficult question to answer.

On previous occasions, every time we have had a price pump, people have quickly taken profit rather than anticipate even higher prices. Perhaps that has been an indictment of very little incentive to hold the token on previous occasions, which has slowly begun to be remedied.

In particular, the ability to earn a 10% APR on HBD deposits has seen more people start to pool their Hive stable coin for yield purposes. Unlike in DeFi, you have a 99.99% guarantee that you will not be rugged on Hive nor will that yield reduce the higher the TVL is, unless a change is agreed upon and implemented by the witnesses.

For someone with $100,000 sitting idle in the bank, that is well over $10,000 per year. Now where can you get such an almost risk-free return? Obviously, DYOR!

We are possibly seeing the most organic traffic to the Hive blockchain since the vision of the chain was ripped from the hands of 'he who shall not be named'.

At the very least, more of the world has found out about this diamond in the rough that we call our home.

The future definitely has more and better in store! Mark my words!

Posted Using LeoFinance Beta



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