Steem shoot to above 40 cents just before hardfork to another new chain- HIVE. Interestingly, overall value of HIVE/STEEM is sill close to 40 cents. Usually, HIVE and Steem's price are complementing each other, Steem goes down and HIVE goes up.
If we consider the former Steem (now Hive and Steem) chain, then its marketcap would be around $140M considering 370M Steem in circulation. It would be ranked 37 in the CoinMarketCap.
Justin Sun has done a favor to us. With his blunders and arrogance, he brought Steem/Hive to a new lime light. Steem was hovering around 80s rank in the CMC, now it can be top 40. Thanks @ned and JS, for waking up the sleeping giant!
Though most are selling their Steem to buy HIVE, there are few people who are also converting HIVE to Steem too.
In the cross fire, @steem.leo (now LEOFinance) has struggled in price action, jittery service and panic.
However, it come out as better adult. I always favor generic name such as LEOfinance or LEOvest over chain based name such as @steem.leo. Then it does not bound to a particular blockchain such as Steem. Though it used to run on Steem, it can move to other chain as needed. LEOfinance has moved to HIVE, though the token service, LEO is still based on @steem-engine or Steem.
However, @hive-engine is in the horizon. There is a non-zero chance that it will be rolled out by March. The backend is complete, front end is in the development.
In the meantime, LEO like other SE token crashed to as low as 0.013 Steem with low volume. Probably, some investors sold to get airdropped HIVE. However, LEO recovered to 5X to 0.065 Steem and volume is still low.
It will take some time for LEOfinance (@steem.leo) to be settled. I personally believe in the LEOfinance team and still am buying up. It seems to be cheaper compared to combined value of Steem and Hive. In near future, LEO may switch to SMT like protocol which will give it the speed and efficiency of HIVE. Then LEO can be traded in external exchanges or DEXes. Team is also working on many novel projects.
As we are very close to the peak COVID19 cases, it is getting worse before it will get better. Many countries (mostly Asian) have flattened the curve. FED's stimulus has temporarily stopped the market from further bleeding. If COVID19 is contained after the peak, both the stock market and crypto-market will correct in positive direction.
And, then mother of all bull indicators, bitcoin halving which is just 49 days away, will set up all cryptos to the fire. If HIVE can ride on this bull run and LEO will see the moon too.
Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions. This opinion is only for educational purpose.
Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.
Thanks for reading.
@dtrade
Cryptominer , occasional trader and tech blogger since 2013
I agree with your assessment. There is a lot of good things on tap going forward.
Patience is required until some things are worked out. The global economy is going to be a mess for a while. The markets will come back much quicker than the overall economy.
I prefer to buy Leo, anyway I can't afford as many tokens of the 2 coins you named
I hope with the passage of time Hive increases its value much more
I like the fact that you are thinking longer term.
it's the same hive tag as before but the Steemleo tag will soon also be moved to LeoFinance.
Alternatively, posts from the interface automatically have the tag ;)
I am not sure how Steempress handles community tags. If you can't use the #hive-167922 tag (LeoFinance community), then use #leo or #leofinance