Hey Everyone,
Hive had a nice pump last night and today and is currently sitting at $.70 USD. Congratulations to all you beautiful Hive people. (yeah, and the ugly ones too)
We got curious in The Pulse Discord (https://discord.gg/p5nWkwzN about the origin of the pump and who might be buying, so I went to CoinMarketCap to find the volume.. And it wasn't difficult at all to find!
Source: CoinMarketCap
As it turns out I was surprised that most of the volume is on Up-bit, and over 72% of the volume in the last 24 hours, Hive was trading again. KRW vs. either BTC or USD. I knew it's a Korean currency, so now, just being curious I wanted to learn a bit more about it.
KRW
The South Korean won (/wʌn/;[3] Korean: 원, Korean pronunciation: [wʌn]; symbol: ₩; code: KRW) or Korean Republic won (Korean: 대한민국 원) is the official currency of South Korea. A single won is divided into 100 jeon, the monetary subunit. The jeon is no longer used for everyday transactions, and appears only in foreign exchange rates. The won is issued by the Bank of Korea, based in the capital city of Seoul.
When I looked for some stats on UPBIT, I found out they list 45 tokens and 46 Markets and it's my understanding there are tight national guidelines on what can be traded in Korea
Well, I was this far into it, so I thought I would check out the market.
Looks pretty typical and now being curious, I also check out the volume. Turns out Hive was providing a lot of volume as well.
Looks like a typical Market and you can see Hive traded just slightly below Bitcoin in Vol. That's pretty interesting.
My last step of curiosity I googled Korean Crypto Markets and found a motive to why they are trading crypto.
As usual we all have a lot in common and like in the US, their Young and Fiscally Savvy, are investing in Crypto.
Still after all that looking, I have no idea why the sudden interest in Hive or what their plans are, but I hope if they join the platform and power up we will get to hear more about their interests.
I thought it was all pretty interesting, and I hope you are enjoying the pump.
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In South Korea they need to hold a whole of a coin. As BTC, ETH and others have prohibitive prices, they look into smaller coins that can burst into some life changing sum. They check the potential and rush into it. We can see soon a 10x on Hive if they continue doing it.
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That's an amazing peice of information and explains a lot.
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Honestly I'll be waiting a bit before I buy with $. There's been a perfect storm this week to rally Hive. Birthday, LEO rolling DeFi and being mentioned on a few sites so more publicity. I see that wearing off over the next few days which should present a buying op again.
However if it was just listed on exchanges like this then we could be in for a seriously long rally as they move FAST
Yeah, it's hard to say what happens next. I wouldn't be surprised if it keeps climbing.
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sure seems to be going in that direction. Was a heavy sell off at one point today but we pretty much already recovered from it! Shows serious bullishness.
I know a lot of the Korean Steem community did not come over to Hive and maybe some would not welcome them, but I think we have to be inclusive. Hive should be for everyone whilst Steem is only for those who toe the company line (not me). This has been a nice boost for Hive and I hope it encourages more people to be active.
I agree aand if a large community comes in we should help facilitate helping them have a community, maybe even front ends that sort by language.
Anyway, they are unlikely to be the SAME Koreans so it be crazy not to.
Given how small the active community is we cannot really afford to turn people away. Steem got fairly big in Korea and maybe Hive can too.
If you were being all conspiratorial....oh, no, I won't go there, I'm ugly enough as it is..lol
lol, I'm not.
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Ugly, or conspiratorial? ...lol
yes!
...your image is not uploading......is that an Ursula piccy? lol
THEY BLOCKED IT
who is 'they?'....
I buy all of my Hive from Probit, I think the South Koreans are miles ahead of us in crypto adoption and it is nice to see them increasing their interest levels even more!
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It is nice and their motives sounded like ours. Very cool. Hive without borders.
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The borderless nature of cryptocurrency is my favorite aspect, I love the variation of the community
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That is definitely very interesting. I hope that it is just general interest in the token/coin and not something more sinister. I know that the Koreans have been heavy on Steem and it would be sad to see someone trying to manipulate things again like we saw last year.
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Wow! Thank you for sharing this bit of information. I was wondering myself.
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Perhaps the sudden interest is the ability to build dapps at no cost.
Or maybe it's just another pump and dump strategy.
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The young generation only is aware of crypto. Maybe they're just studying it or something else.
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Hive has regulary high volume on probit .... most likely wash trading .... When the pump first happend I checked the markets and the highest price was on Binance on the hive/btc pair ... most likely this was the initial buy in
I checked on coingecko.com too. The volume is over 75% at Upbit. $590,893,931 USD worth of Hive traded there just in one of their 2 markets that Hive is listed in.
Maybe started one place and took off.
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Mr. Salmon is too kind to us.
lol... silence, LOL.
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Your post is reblogged and upvoted by me. It is a good post. Thank you @whatsup
Remembers me my comment under penguinpablos statistic. The Koreans look at us close and don't want to sell :P
Funny :D
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Yeah I do.
Does anybody know if there is Korean community on Hive? Or have they not migrated from Steem?
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I'm not sure, they were not offered their stake on Hive, the stake that they held (monay of them) was combined with the Steemit Inc stake and put into the HDF.
As you can imagine there were some hard feelings.
That's too bad. The split from Steem could have been better handled to avoid drama. On the other hand each drama brings in more popcorn haha!
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Popcorn for all! Drama has it's pros and cons.
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Hopefully no dump, they best be staking that!
Maybe the interest from Korea stems from their interest in Steem. Steem has become a cesspool of vote-buying and what seems to me, a race to the bottom. I wouldn't be surprised that some of this money sees the long term value of Hive over Steem.
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