RE: Hive Backed Dollar (HBD): Taking Things To The Next Level
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On most exchanges, HBD is not as liquid as hive. If you look at Coinmarketcap, the volume of HBD traded across all exchanges in the last 24 hours was only $290,947.
Whereas the volume of Hive traded across all exchanges in the last 24 hours was $268,096,463.
HBD will struggle to get traction as a stablecoin unless volume and liquidity improve.
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Hard to do that with only 25 million or whatever is out there. We need a lot more HBD plus use cases.
So we are truly in "the chicken or the egg" situation.
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The difference in trading volume is around 1000x though, when the difference in amount in circulation is more like 15x, and even less of a ratio when considering only liquid HIVE.
But I don't believe most reported crypto volumes anyway.
That is true. Trading volumes are even wider than the float out there.
Less exchanges have to impact that although, I would imagine, a lack of use cases is also feeding into it. Why would an outsider even jump into HBD?
At this point, we dont have the mechanisms in place to leverage what we truly have to offer.
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