HIVE is a contrarian. It has proved that for the past couple of years. Back in 2020, after the hard fork, while the whole market was grinding up, HIVE was pretty much crawling doing the exact opposite of the market.
BUT, on many occasions afterward, I have witnessed it outperforming the market. Like what happened today for example.
The crypto market has deflated a bit today after the weekend's "quite green days", but HIVE has had its own show. It has literally skyrocketed from $0.40 to as high as $0.52 in just a couple of hours this afternoon.
In the morning when I checked its price it was pretty stable and the 24h volume on the HIVE/KRW pair on Upbit, the exchange that seems to be trading most heavily for a few months now, that was of around $4 million.
Now, that volume sits at $71,200,805 on the same pairing on Upbit, and if I remember correctly, just a few hours ago, when HIVE hit $0.52 the volume was of $37 million. The Koreans are at it again.
It has happened multiple times in the past that Koreans have simply pumped and dumped HIVE on low time frames and it's happening again. I don't get why, though... Why the heck do they like doing this? Who's behind such pumps?
$71 million on the past 24h is a lot for a coin that has a $167,118,335 total market cap... Does anyone have any clue why this happens and who could be behind these pumps and dumps?
Thanks for your attention,
Adrian