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RE: How Steem Became Hive

in #steem6 months ago

Not that anything means anything, but is there an explanation for the recent crash of HIVE price along with the stability of Steem price?


More HIVE tokens were sold in a given moment than HIVE tokens were bought.

I wasn't trying to be sassy, but in case that was unclear, I'll be more verbose:

Considering that one point of pride mentioned in several posts I've seen was that HIVE had a higher price than Steem in the couple of days following the chain split, and that that position is now reversed, are there any likely inciting incidents for the dramatic shift that other, more connected Hivens may have become aware of and posted about that I haven't noticed? Have there been public opinions by prominent users or behavior changes by whales?

Since my last post, I've been told that... Justin Sun's witnesses have frozen the Steem in some whale accounts. Perhaps their exodus from Steem into Hive was driving the value of Hive up and Steem down for a while? Is that possible, or was I misinformed and/or am I mistaken as to the economic causes and effects of coin pricing?

In the 7+ years I've been in the cryptocurrency space, I've rarely if ever seen rational reasons for why prices do anything. Occasionally hacks lead to price swings, but mostly it's just post hoc rationalizations. In this case, I don't know what happened, but I imagine some who don't like Hive wanted to make a point by obtaining Hive and dumping on the market and keeping the sell pressure there to keep the price low.

Not speculating on who that someone might be, eh? ;P