Hive is a billion dollar network. Finally! Last few days Hive price kept going up, and brought us a pleasant surprise for Thanksgiving going as high as $3.35, its market cap increasing above billion dollars, and briefly becoming one of the top 100 coins. The Hive price has dropped a little bit and currently trading at $2.8.
Hive not like any other network. It is a decentralized network. It is people's network. That's why it makes this achievement is a special accomplishment towards bringing web3 technologies to many more people. Price action serves as a powerful marketing and bring more attention. And the question we all end up asking is why? What is the reason of Hive prices going up? I have no idea. I have no clue. In fact, I am not even interested to know.
The reason for this doesn't matter much for me and many on Hive. Because we already knew Hive is a billion dollar network and more. It was just a matter of time and inevitable to happen. At this point it doesn't even matter if it drops back down to 80 cents range. It has already proven to be worth at least billion dollars. Due its decentralized nature, solid fundamentals, and dedicated community reclaiming this market cap would be easier than getting rather for the first time.
Hive becoming a billion dollar network means a win for decentralization. It is a win for open source technologies, property rights for all, transition to web3, transparency, and much more. There are many crypto projects out there. But not all are decentralized enough as Bitcoin and Hive networks. It is a win for content creators who choose web3, ownership of accounts, ownership of content, and work on building financial freedom.
Higher Hive prices mean bigger rewards for content creators and curators. Higher Hive prices mean more funding of projects by decentralized hive fund. Currently DHF has 68 million Hive and 8 million HBD. Proposals are paid out in HBD, higher Hive price means less Hive will be converted to HBD to these pay outs. This will drive innovation and development of interesting projects in a decentralized fashion. DHF has $200 million. Impressive!
Hive blockchain has an inflation of about 7% and it keeps decreasing every year. All the rewards for authors, curators, witnesses, and payments for proposals are funded by this inflation. All investors of Hive take a risk of diluting share of coins because of inflation. This makes special kind of people to be investors on Hive. Those who believe in decentralization, those who believe in web3, those who believe we can change things for better. Even if these investors' shares get diluted with inflation, they get rewarded when prices go up. Congrats to all investors who believe in Hive! You all deserve huge gains on your investments.
This is a win for builders and developers. This shows how your works are valuable, people recognize your efforts and use your tools, apps, and products. Your continuous efforts make this network better and stronger.
This is a win for all witnesses, top 20 and backups. You dedication to this blockchain, engagement with community, keeping the chain running and secure are highly appreciated. You deserve to be rewarded more. Especially the backup witnesses, those who kept running witnesses even when the witness rewards didn't cover their expenses. Higher rewards for witnesses also will help with growth of the chain and scaling. This will help witnesses to invest in better infrastructure and the network grows.
Congratulations to all Hive People!
Next stop - 10 billion.