This is a snapshot of the top 10 cryptocurrencies as listed by Coingecko.
Periodically I take a closer look at this to see what is changing. I am not one to watch the list on a daily basis since price action tends to be continually fluid.
Nevertheless, when I do hone in on what is there, I do so with the simple thought: what is truly taking place on these platforms?
To quickly go through them, we have BTC leading the way and little needs to be said about that. Ethereum is next which stands to reason considering the development that is taking place and its present near monopoly on DeFi.
Tether and the banker's coin, Ripple, are the next two. After that, it gets very interesting.
Two of the remaining 6 spots are Bitcoin forks, Cash and SV. A third, Litecoin, is looking at adding the privacy feature yet has not seen much development in the past two years. Closing out the top 10 is the biggest exchange in the world, Binance.
That leaves two projects, Cardano and Chainlink. The later entered the top 10 as a result of a big push of late. Cardano has amazing potential yet is still in the process of bringing the development to market.
Then we have the flip side which is Hive. This is creeping its way lower, moving towards an exit from the top 100. Ironically, it is bunched near Steem with both falling.
So what gives?
I think here is where we need to emphasize that there is an apple to orange comparision.
When looking at Bitcoin, it is a financial instrument. Most of the development around that blockchain is done with the focus upon making it a more efficient transfer of value system. Thus, when looking at price, it makes a great deal of sense. Bitcoin exists as a financial entity.
Hive, on the other hand, strikes me in a different manner. While there is certainly the transfer of value aspect to it, this is not the primary focus. In fact, Hive does this much quicker and for a lot less money than Bitcoin yet few take notice. What Hive does offer is the ability to develop. When we look at the projects, we see a lot more than just moving value from Wallet A to Wallet B. There are games, digital art, and social media applications. We also see DeFi taking place in creative ways that Ethereum is not offering.
Over times, blockchains jump around. Remember when EOS was going to be the dominant player in blockchain. What has it done? In the past year, it dropped out of the top 10 and is currently 12th. This was a token that many thought would rival Bitcoin in value and crush Ethereum in development.
What I find interesting is that Hive is flying under the radar yet is right in the middle of blockchain development for Web 3.0. This is a fact that is overlooked since it requires a long term view of the situation.
When we focus upon the different applications being developed, we see that they promote the tenets of Web 3.0. Individuals are able to be rewarded for their participation and what they add to the different platforms. Whether it is gaming, blogging, art, or some other innovation, through the use of blockchain, people can be rewarded with digital assets that they own. This is not something that goes away once a game or application is exited.
This brings us to the idea of wealth creation. While the ranking of the HIVE token has dropped, that is not to say the value, of Hive or the entire ecosystem, has followed suit. As Warren Buffett likes to say, "price is what you pay, value is what you get".
On Hive, over the last few months, we see the foundation for a great deal of wealth creation. Each new application has the potential to develop dozens of whales. Anything that succeeds and gains a reasonable following will have value. Splinterlands remains the example of this with many players holding thousands of dollars in cards that will only increase in value as the game becomes more popular.
We recently had some drama instigated by an individual who obviously did not understand Hive. Her claim was that the ecosystem was falling apart and people were letting this place be destroyed.
Well, if one approaches the world with a hammer, everything looks like a nail.
I have a different take on Hive. Everywhere i look, I see opportunity being presented. Most people are not tearing the place down but, rather, innovating and creating. They are building things up through their actions. This is true for content creators, developers, people on Discord, and fans of the many different projects.
Each day there are dozens of different reward systems dropping digital assets upon people. Looking at the HIVE pool is only part of the equation. There are dozens of different tribes that has a similar pool, rewarding their content creators and curators. At the same time, games are dropping digital assets on people. Each week, for example, eXode drops cards many different users to invested in the game. Curation rewards are being shared for those who jump into and support projects.
There was a time when people ran around social media proclaiming the idea of coming to this blockchain, post content, and make $1,000 on your first few posts. If that time did exist, it is long gone.
What is offered today is the opportunity to build. Over time, if things pan out, this should generate enormous wealth for many who are involved. This will take on many forms in addition to HIVE. In fact, it is likely more wealth will be created by a few projects outside of the HIVE token.
A scan further down on Coingecko reveals something very interesting. A number of projects in the top 50 are tokens that are located on the Ethereum blockchain. In other words, a lot of wealth exists outside the ETH token.
On a less publicized scale, we see the same thing happening on Hive. Dozens of projects are creating their own whales, many who have minimal HP. How this translates to USD or HIVE in terms of market action remains to be seen. Nevertheless, those who are involved in those projects, if successful, stand to benefit greatly.
On the pricing front, Hive flies under the radar. However, if one takes a long term view and sees what Hive truly present, opportunity, then the value becomes clear.
Whether one takes advantage of that opportunity is another matter altogether.
As we know, many pass on the chance opting for other pastures.
If you found this article informative, please give an upvote and rehive.
gif by @doze
Posted Using LeoFinance
You're actually right, if there was an opportunity to make $1000 in just two days I'm sure that even Kim Kardashian will be here, but then you said it all, hive offers one the opportunity to build and well establish themselves slowly and I think people are finding it difficult to tap into this.
The key will be people having the opportunity to build doing stuff they like. Not everyone is a content creators. Some lie games, other like art. Whatever the flavor, there could be a community to join.
And most will be monetized.
Posted Using LeoFinance
And that's why masses won't come.
Ok well the third world yes.
Reality is anyone with intelligence smells this for what it is.
You got to pay to play to win.
Money thirst here creates sharks.
Sardines then exist as the feed (fools).
I admire your detection to selling hope you should make that a token already.
"I've got no money.. But billions in HOPEcoin.. one day that hopebank they promised will be rolled out.. so I can bloody eat already!"
Or perhaps you could start a token and a community that doesnt require money, one that lays out a vision of how you think things should be done.
Posted Using LeoFinance
Your reply is: a diverted extreme request which cannot be fulfilled in the near future but you've uttered it to feel you have won the argument.
Reality is though..
That is going to be a thing in the far future. Humans are slowly seeking to not be under the worship of money.
Anyway I'll cease interacting.
You do not provide intelligent conversation.
I guess my style is too honest.
People don't like to discuss true issues honestly.
Specially when they're selling money dreams.
I agree I remember when we had $40k make-up posts 4 years ago and I thought the same thing back then lol
https://hive.blog/funny/@stealthtrader/when-the-kardashians-use-steemit
Your current Rank (41) in the battle Arena of Holybread has granted you an Upvote of 24%
Hey what's up dude you've been commenting on my post recently so I want to say thank you very much for the support. Also I got my highest upvote ever recently so I'm excited
Just keep going around and making yourself available to be seen. Over time, people will catch on and start giving you some upvotes.
It all builds.
I try to give good sized upvotes in LEO...that way those who support that platform are able to build their LEO holdings.
Posted Using LeoFinance
I'm trying to do that right now thats why i always give tokens out on my post such as beer, hivelist, etc.
Hive is indeed an opportunity to create and be the master of your own fate. It is a great opportunity for those who think and have a vision for long term achievements.
Just wondering is their any social media token that scores above hive?
I can draw 2 inferences:
I believe the open source, decentralized, social media aspects of Hive give us unique promise and potential for being the hub of digital society. I think this is why the token value has remained relatively less volatile than other speculative projects. It is truly the people's blockchain, and that spirit and the community make it a steady build up as the centralized platforms become more controlled and less appealing and crypto adoption grows Hive will be the place to be!
At https://coinpaprika.com we have already flown beyond the top 100
Hive is getting pretty strong in a short period of time (and this is obviously something amazing).
Hola @taskmaster4450… He elegido tu post para mi iniciativa diaria de reblogear. Este es mi aporte para Hive…
Sigamos trabajando y aportando ideas para crecer en Hive!...
Hello @taskmaster4450... I have chosen your post for my daily reblogging initiative. This is my contribution to Hive...
Let's keep working and giving ideas to grow in Hive!
Thanks for all the good info. I sure miss those days when steem was way up and more of a close community vs now being run by sun who could care less about us. Thanks for all you do!
Case in point @acidyo
Keep updating that belief!
lol
It's hard for the new players unless you buy a lot of HIVE power but over-all, it can be worth it if you get yourself heard.
Fundamentals & Pumpamentals are so different. But the king of fundamentals id network effect. If we'll have users then moon, if we have only tec... no one needs HIVE.