Hive is inevitable
It has been a busy couple of hours for Hive coin on exchanges, as the coin has experienced considerable appreciation in value in the past few hours. For a coin that seems resistant to the usual pump and dump games played in exchanges, this movement seems more like a precursor of an inevitable run up.
An interesting thing about this runup is that the price has climbed at a consistent pace and then settled around 19cents. It tested 22cents for a split second before dropping back down to 19 cents and in the process, establishing a higher low.
Hive distinguishes itself from most other projects due to the fact that it has actual use-case and a propensity to survive for a long time. The token itself hasn't reflected this value, despite the large number of transactions that happen on the chain daily.
Dapps like Splinterlands, leofinance, and 3Speak account for a large number of these transactions. The near feeless/replenishable model employed on the chain also makes it a welcoming place for developers. However, as stated earlier, the price hasn't reflected this just yet.
@taskmaster4450 discussed the network effect and how that translates to value in the long term. His postulation that's a combination of Metcalfe's Law and Reed's law amongst others depicts the importance of these large transactions.
These laws combined with strategic marketing are the underlying factors behind the success of Facebook, Twitter, Insagram and other social networks.
Naturally, every step towards improvement in terms of functionality increases the number of connections. However, like we all know, the social aspect of it has a tendency to keep everyone embedded in the system.
As the system becomes more robust and transactions increase, we will devise more innovative ways of retaining the accumulated connections. This means that developments like the Peakd private chat and whatnot will eventually phase out the need for Discord or Telegram for private conversations on Hive.
More connections means more value and in the long run, this will translate to a sustainable rise in the value, rather than a flash in the pan occurrence.
https://twitter.com/belemo__/status/1359119534330888193
Judging by our ranking based on the market cap we aren't doing too great but based on development we are a top 10 blockchain. A lot of projects will certainly die after the defi craze and bull run but certainly not hive because of its strong community. I believe, things will change for the better soon enough. Mentally preparing for that time.
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Yup. We've been through a lot of shit over the years but we stay grinding regardless. A big reason for that is because of the futuristic level of tech we're using today.
True. Anyone invested here should know that it's a long-term thing. I am grateful for this platform. Without it, I probably would know nothing about crypto.
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Hive is one of the most underrated cryptos
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That's the best part. Early adopters like us can build in silence
Hi @belemo, there are things that I particularly still don't fully understand, and that is that the market works in a rather particular way. Hive as a platform has great potential, many apps on its blockchain, which in theory should maintain and arouse interest positively impacting the price of your token, however, this is not the case.
I don't know if this is the start of a bull run, but if so, welcome.
I think Hive is more of a product than just another pump and dump token. Hive's growth is going to be somewhat slow and sustainable, as against other coins that operate like gambling chips.
That's a good way to look at it.
Let's hope so, because that being the case, it's more of an endurance race than a speed race.
Well, it would be great if the people from telegram or discord invested in hive. This would give it a very important boost and would surely attract the attention of other potential investors with a lot of capital.
Hopefully all this noise encourages much more developers to come to contribute to the platform.
I sure hope Hive grows and grows. Mostly because I like it. But also because I wanna make some $$$'s.
We all do man
That's a pure example of what Hive is. From a fundamentals based stand point HIVE should be at least $1. At least... Unfortunately we didn't have much exposure in the media and many investors don't know about this gem. Time will fix that. At some point things will change. I am curious to see how well will it hold during the next bear market and if it will fell bellow $1.
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Below 10 cents you mean?
No. Bellow $1.
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I mean, it is below $1 right now and not lighting up the world, so how come you're speculating below $1? 🤔
I'm speculating it will not get under $ after the bull market. It hasn't yet reached it obviously.
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Oh right right. I hope you're right. Market is looking bullish anyways, so it might not be out if the question.
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HIVE has been lagging for quite a while and it's about time for it to start rallying.
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Let's hope that as you say this is the beginning of the price increase of Hive, certainly this is a platform with a lot of potential thanks to the apps based on its technology, which certainly we have not yet seen reflected in the price, but will certainly pay off very soon.
Hopefully soon. Stay frosty and keep staking Hive.
Hello @belemo
No sweat the times ahead for the platform are promising, we must continue to work towards sustained growth on the platform.
Let them pump and dump but hive is the coin that has real use case. That does not matter that hive is slow now but in the long term hive will grow. Hive has strong community. It will grow slow but sustainable.