Finally...Binance re-enabled Hive deposits/withdrawals

in LeoFinance4 months ago

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Every time a HF is performed on Hive blockchain, regardless if it's a fork fixing bugs or a major release, exchanges supporting HIVE are notified so that they can upgrade their nodes to the latest version. Therefore they always disable their wallets for a few days.

Bittrex wallets were re-enabled within two days.

Binance wallets on the other hand...oh boy...it only took em 18 days to enable deposits and withdrawals...just like every single time after a HF. Binance usually comes last...

What difference does it make bud? There's always Bittrex...


It makes a big difference.

Firstly, not everyone is using Bittrex because they require a KYC. Like a full KYC...and not everyone feel comfortable to provide their personal data to CEX's...

Secondly, Bittrex compared to Binance -volume wise - is a tiny exchange. And as we know volume is ll that matters...and exactly because there's no big volume, the order books on Bittrex are "thin" aka one should move the entire market by 15% or more, in both directions if they were to make a big purchase / sell.

20201024 21_01_14Spot  Wallet  Binance.png

Thankfully just...18 days after HF24 was complete, their wallet maintenance is finally over. So those of you who were looking for a chance to buy cheap HIVE...here's your chance.

They say that one picture is worth a thousand words, right?

well...how about that picture then? Or screenshot if you will...

20201024 21_03_56Bitcoin Exchange _ Cryptocurrency Exchange _ Binance.png

Depressing eh? That's the side effect of low volume because people rarely hold their tokens especially Hive tokens on an exchange when they can stake it and earn more via curation.

Hive slipped down to 1110 Sats...

24 Hour volume is 4.55 BTC when usually it was close to 50 BTC ( 0.8 BTC 24 hour volume on Bittrex while the wallets there are open for the last 2 weeks...just to get an idea)

Ok...now there are no more excuses...Are you buying / about to buy Hive maybe?

Have a good one peeps...

Source
Cheers.

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Bittrex's HIVE wallets were actually down for a really long time (many weeks) before the fork. They likely started to update their nodes when the new 1.24 version was tagged (you can start running the new version before the fork happens) and I don't know if it just took them really long or they were waiting until the fork happened to re-enable, but it was a big pain for the people who do use Bittrex for HIVE (like me, because I refuse to use Binance after the Steem takeover).

In any case, you're definitely right that Binance typically has way more volume which is very important, and it's great that they're back up now. Just wanted to point out that Bittrex's HIVE wallets were down for a long time.

As much as I hate Binance too I think that because of its huge volumes we "need" them...I hate to say it but we do need them...

Didn't know that Bittrex's wallets were down for so many weeks. Really? I think I've bought some Hive and brought it in the platform a few weeks ago from them...hm, maybe that was prior the HF announcement.

So how does it work? They can update just by looking at github? Or they were notified?

Yes we definitely need them, no argument there. I believe all of the exchanges were notified when the new hived build was ready to go, and it was ready a while before the HF actually occurred. The HF date was pushed back because of hivemind and API issues, not core hived issues.

Buying Hive on Bittrex, and then converting to LEO... Perfect plan :)

now that's a good strategy :P

Bittrex always tend to be forgotten I don't know why.

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Now it's probably time for the price to appreciate a bit as it is highly depressing to see it at 14 cents or lower. On the other hand LEO has some strange volatility that in my opinion precedes another leg up... Or, am I too optimistic lately?
We'll see.

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What a way forward.... Kudos!
🚶🚶🚶