Hive backed disappointments

With everything going to shit over the last few days I was keeping an eye on how my favorite "sort of but not quite a stable coin" was doing. And to be honest I was surprised it didn't go under 90 cents, instead mostly bouncing back after hitting that threshold. In my mind HBD reaching around 80 cents was a real possibility and it could have also been another opportunity to dunk on how unstable it is.

You could argue that it's pretty unstable for stable coin standards and if you wanted to buy let's say Hive with it because you thought of taking advantage of the discount you could find yourself being short a few hundred dollarydoos if we are talking amounts in the thousands. The good news it that HBD bounced back to values closer to $1 pretty quickly even though the fluctuations were kind of wild for a stable coin.

All in all not a bad stress test for our home grown stable-ish thingamajig. I feel better knowing that in the future when prices might go even lower HBD will be sort of near its $1peg and that the value locked up in savings won't partly evaporate when I'll want to buy Hive on discount because HBD is like 70 cents.

Still I imagine seeing HBD go down to almost 90 must have caused a little bit a panic to those 2 new active users Hive has acquired in the bull run because in crypto the bottom is only obvious if you look back. I think we need to take good care of them because that's all we're gonna get until the next bull cycle, but that's a meme for another time :P