Stop Reacting To Every Little Movement Of The Price Of HIVE

The price of HIVE seems to have dipped a little. I've seen people lament that very recent price action. I have to ask if you've only been in the space since yesterday and what have you done with the people who used to own those accounts. :)

Middle-tier market cap coins like HIVE are very volatile. A 5-10 percent dip is just another day at the office. The market is chaotic. It often moves up and down without any discernible reason.

The long-term trend for both STEEM and HIVE has been moving down the list of market cap rankings, however. That's hardly surprising because the number of coins is increasing continuously. In particular, dozens of very new DeFi coins whose main use case if yield farming have shown up with market caps larger than HIVE's. A much more relevant metric would be HIVE's relative position. That's because the total number of projects has increased rapidly.

The drop in placement on Coingecko does not worry me in the least. On the contrary, it means that there is money to be funneled into Hive by having @fbslo finish what he started and what already is up and running as a prototype. Ethereum is currently plagued by very high transaction fees between smart contract addresses. It would be cool if a wrapped HIVE token were launched on other chains as well. An app relying on a master node (with backup master nodes lined up) and validator nodes being required to move coins and with a smooth UI is what would make this attractive from a UX point of view. The DHF should be used to provide liquidity on Hive for the market maker account. I think someone made a post about that a short while ago.

HIVE seems to have dropped to the 139th place by market cap.

The whole market seems to be taking a breather. Just some profit taking.