We stay on Steem not directly on Steemit.
We don't see that Hive will be able to keep a stable price.
about 60-70% of the volume from Steem has been made from Korean exchanges and Korean users (Upbit and Bithumb)
These users and holders are not anymore on Hive.
Even with that Qty. the Steem price was falling, because the 8% inflation was too much.
Now on Steem there will be change but I have no idea who is going to buy Hive.
Only from the inflation there is about 750K liquid Hive per month, if users are going to powerdown and sell part of it, it would be 1M Hive on the market. (Same for Steem, but here we know at least who is buying that Steem)
Hive is already online and tradeable on Bittrex, but with a daily volume of about 35K USD.
That is definitely not enough to keep the price level in short and long term.
A second part you have to think about.
There is about 20M Hive waiting on Upbit and Bithumb from Korean users and as far as we see, both exchanges are not planning to list HIVE (they have no reason to)
This means you have as user a token that can't be traded directly on your exchange but you need to move it to probit or bittrex.
In that case 95% of users don't trade there to buy more hive but are there to sell it.
And we are not even talking about Binance, where we have 60M Hive sitting in the next 12 weeks.
- Written by @jayplayco one of the people behind the 22.888 code
The volume numbers are fake as hell.
Reality is most of that Steem and Hive on Binance and being powered down on the Steem chain is owned by non-Koreans who have moved to Hive and will be selling their Steem down ASAP once they get access to it. NO one is going to be buying Steem ever again except for Justin Sun and a few misguided Koreans. Those Koreans can sell their Steem and move from a chain that is being comically censored by a small sad dictaor to Hive which is where the original Steem community has moved to if they want, but the train is leaving the station.