I like always to track what is crypto x in crypto y worth. It helps for trades and to see patterns.
Interesting to see is, we have some new trends in favor of hive.
I don't like to post a million charts, I have tried, but is not my thing. So if you want to see charts, go to tradingview :D
08, Jan (highs):
1BTC = 330714 Hive
1ETH = 10376 Hive
Bitcoin Domination: 71,24%
23, March (lows):
1 BTC = 73919 Hive.
1ETH = 2293 Hive.
Bitcoin Domination: 61,23%
Hive performs this year really well against Btc and ETH. not only because of yesterday. But for sure it helps.
Now we can think because of BTC domination, hive already becomes its part. I don't think so. Most were defi and other coins.
Hive has a lot of room to grow, not because the tech is good and we become finally more attention, also because of our Korean community/traders. Most liquid hive is on upbit, the korean exchange.
Yesterday the pump, the most volume comes from there. I think the korean wales look close at both chains. Because they are not stupid, it looks like Milk steem buy hive. But I have no data to prove it. Is only my opinion.
The first movement starts with a Steem pump, 5 minutes later the hive pump. It can be a random event, but I don't think so.
I will look closer at it.
Steem/hive exchange rate becomes also faster in up and downs.
So what will all that mean? For the long term, it looks to be bullish, Koreans never dump all their hive, strong holders.
And it looks like they buy more. maybe others buy to on upbit, that's not trackable for me.
Overall interesting to watch the data. Lets see what it will mean for the future.
No financial advice do your own research and don't follow creepy internet people.
Posted Using LeoFinance Beta