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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?


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 CoinGecko

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.