That's really an awesome chart. I hadn't thought of looking at STEEM. Do you think the similarity is that both STEEM and HIVE are aggressively traded on one exchange mostly? When you say there is more capital in STEEM, how much more?
You are viewing a single comment's thread from:
Steem is ultra centralized though so I’d not assume the trend is reliable. It looks to me it’s more the crypto space in general. Let’s put Bitcoin and a random few tokens over same trend and we’d likely see something similar.
Good idea. I wondered if Hive follows the average of all crypto since it is small volume. I will look for an aggregate chart to compare.
I compared them, because they are based on the same tech. Isn't Hive a recent fork? It means that both have a similar product line which means they appeal to the same kind of customers. The alignment of their prices trajectory is logical as you can get more or less the same on both chains as the services are mostly interchangeable.
My conclusion would be that their correlation will become weaker the more they grow apart, or the more customers go for one of the two. I'm not too much into this, but right now it still looks to me like it's undecided, whether one or the other will win this.
According to Coinmarketcap, Steem has a cap of 85 million USD and Hive has 214 million USD. So, they're both relatively similar in that regard, although Steem is much more traded with close to 15k USD compared to not even 3k USD for Hive.
Where are you seeing only 3K volume? Seems way off to me.
That’s definitely not correct. Something is off. @methodofmaddo they only pull from one source? 3K seems odd to me?
Do you have other sources with different numbers? Since blockchains are open and easy to read out, I imagine these numbers to be fairly accurate.
I think the Hive trading volume is like $2 million to $4 million per day @thefed and @fulda-gap Most of the activity is on upbit in Korea.
Looks like I'm an idiot. Not sure how I managed to misread the value, but I got it wrong by 3 digits. In my screenshot from coinmarketcap it was 1.6 million USD in trading volume.
May be that I confused the comma and dot rules which are reversed in German. Sorry for that :-)