HIVE has surpassed STEEM in total Market Cap
Well, that didn't take long...
HIVE has now passed STEEM in terms of total market cap, and it's really not even close.
Now that coingecko (https://www.coingecko.com/en/coins/hive) has updated their market cap totals for HIVE, it is far ahead of STEEM.
Check it out:
(Source: https://www.coingecko.com/en/coins/hive)
This may or may not be surprising to some...
The only thing up for debate right now relates to the volumes.
Currently STEEM is showing over $5 million in dollar volume compared with only $35k for HIVE.
Not nearly enough for true price discovery.
However, some of that STEEM volume is likely wash trading, so there is that to keep in mind.
As more exchanges open up HIVE trading, I expect the volume numbers to climb and we will get a better and truer price discovery.
Will that price be higher or lower than the current price, though?
Good question...
What do you think?
Stay informed my friends.
-Doc
Lol damn that was fast, I always knew steem was under performing but this is ridiculous
Amazing news for the platform! Cheers!
Expected this very well
So cool to see Hive immediately land in the top 60 upon minting. Do you think Steem forks have a future in crypto now, like the handful of successful Bitcoin forks we saw?
Honestly, my guess would be probably not. This one was unique in that it pulled roughly 80% of the active community plus their resources/assets to the new chain... Not sure many forks will be able to come close to doing something like that in the future.
Very true. There was an incredible amount of talent and resources behind the Hive launch. But I'm hearing people talk about more Steem forks now from a few different places.
The phase of the hype is almost over, now Hive needs to produce value and bring something different.
We need them to update our block time from minutes to second.
Yep, 3 seconds I believe. we also need coinmarketcap to include HIVE as well.
It´s already there but currently ranked 2176
https://coinmarketcap.com/currencies/hive-blockchain/
The ranking is bogus as 2176 is the last position that contains all the currencies with missing data.
Ah, that´s right. Hopefully, they edit it soon and Hive gets where it should be :)
There is a lot of data that CMC needs to verify before adding the missing information.
Hive needs more useful features, apps and users for HIVE price to rise, otherwise the price will be about the same as STEEM was before the fork.
What a news. I didn't expect it.
It's great that it has happened so fast!
I do think the volume reporting is off/lagging... currently, the 24-hour volume for Hive on Bittrex alone has been running 6-8 BTC... and multiple exchanges are handling Hive. It's probably just a matter of time.
I think we go way north of.19 cents
Things are lightning up already. This is good news for Hive, I wish and hope it continues like that. We want the price to keep going higher. Too bad our love for steem will just end very soon. Too bad
Wow..... that is incredible. Way to go Hive.io
Coingecko shows bad data... I complained that their statistics show 0 for some values for my coin even though I submitted the relevant API endpoints...
As such their calculations might be off by a lot as they select what sources they use instead of using all of the possible and averaging out...
What is Steemit Inc doing today? Justin isn't tweeting about Steem at all. You would think he would be promoting how successful the TronSteem swap will be and how we should keep our Steem tokens for that.
I think he wants us to dump over the next 13 weeks, so we don't get any benefit when he pumps it.
I've decided 7c is my floor. I won't sell for less.
He might be planning on using his holding for his new DeFi app to avoid a full dumping
https://www.theblockcrypto.com/linked/60246/tron-launches-its-own-makerdao-like-stablecoin-system
Interesting thoughts... I hadn't considered that.
Good question. I'd like to know as well.
Cool!...:)...
I think we'll see Hive rise and Steem fall.
There are enough of us with reasonable size bags powering down Steem. The core of the community seems to have transitioned over to Hive.
The whole drama - once understood - doesn't reflect so great on Steem & Sun. Meanwhile, the victory of our community and evolution of true decentralization with Hive are pretty strong fundamentals.
Market cap isn't gonna make huge moves without serious investors. Any who'd be analyzing the data on both, Hive is a pretty obvious choice - unless they're dumb and allured by Sun's image & status.
😎
It's certainly possible, though I actually don't think steem is going to tank as much as some do due to the power downs. It may eventually tank due to lack of development/interest, but I don't think the power downs are going to crush it like some do.
"Currently STEEM is showing over $5 million in dollar volume compared with only $35k for HIVE.
Not nearly enough for true price discovery."
People who can sell Steem and Hive in mass are the same people. The market has spoken even if the volume are low. The market are rational.
We will have a better idea of where things stand when Binance enables their wallets.
Good to see, but still a loooooong way to go. We still have a lot of challenges to address. Good to see a community rallying together, but let's not pat ourselves on the back just yet
I am curious to see what happens with a working Binance HIVE wallet...
I know this may not be the best place to ask but since we are talking about trading, Hive and Steem, can someone link or help me with buying Hive tokens? I never really understood the mechanism
Buying them on bittrex is the easiest in my opinion, just need to transfer some bitcoin (or fiat) into the exchange and you can buy HIVE. You can also purchase it via blocktrades and/or a couple other exchanges like probit and ionomy
Thank you!
I want the hive will progress and now the hive community have to launch the new projects and work for a long lasting projects it would cover the crypto market.
Hive volume is very low, this is not a healthy data. We can see the real prices in June, July.
Interesting to see how things shake out now that exchanges are allowing transfers between these currencies.
Turns out, copy-pasting a blockchain (and currency) doesn't necessary double its purchasing power. We're not all instantly twice as well-off. We can't just hit Control-C and then Control-V a bunch of times and get rich. Fancy that!
Cool see see Hive triumphing, though. Makes sense. This is where the more-free market is right now.
Great news. But I downvoted because I don't think this post worth enough to get 50 USD.