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RE: Hive Reaches 10ks Sats | Some thoughts about it | Supply VS Demand

in #pump7 months ago

It's always a question what to denominate prices of a cryptocurrency in. Many users mistakenly price cryptocurrencies in dollars, when in general altcoins trade against BTC.

For HIVE, I've been viewing it against STEEM. See the 1-day candles from TradingView (can't figure out how to make link public):

HIVEBTC/STEEMBTC using BITTREX prices via TradingView

I'm still not sure the best way to view HIVE. In BTC, in STEEM, in USD?

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Yep ... viewing it against BTC is probably the best thing ... although comparing it to STEEM is also something a lot of people do ... but it looks like a HIVE is detaching fast from steem.

CC @knircky who first showed me the magic of tradingview at a grungy meetup in times past.

The Huobi HIVE/USDT chart is interesting now:

Huobi HIVE/USDT chart Sun 26 Apr 2020 01:28 PM UTC

Looks like there's resistance at $1. Seems to me like the Huobi listing has driven the price explosion. The volume Huobi makes every other exchange appear minuscule.

I wonder if we can see volume for each HIVE pair on Huobi.

Found it on CoinGecko:

Market Trading Pairs for Hive on CoinGeckohttps://www.coingecko.com/en/coins/hive#markets

So looks like HIVE is predominantly denominated in USD terms on the order books.

Ha.... didnt expect that... was totaly unawere of the USDT/HIVE pair on Huobi ... this means some Tether money staying on a side are actualy comming in. Totaly new twist to the story :)

Over $100M in volume was registered by this pair itself on Huobi. I'm wondering about the intense activity in this pair for two days now.