If you looked at the crypto market yesterday, our dear HIVE was popping like mad. Some wild action was going on. HIVE got pumped up to $1.05 on Binance. What?! Yeah! But why?
Is it the Asians? Both HIVE and STEEM were getting pumped, as they have been together for a while. This was a valid theory. But when you look at the action, normally STEEM pumps up higher than HIVE. STEEM is more popular since the bran d name has been around longer, and the Asian community started there and is larger there.
But this time, HIVE pumped higher than STEEM. Hmmm. What is gong on? What hype is causing this?
Wrong HIVE
Well, when you go do a search for "hive blockchain", which is what we are here, right, the Hive blockchain, it appears there is another HIVE blockchain that is more popular than the Hive blockchain for the HIVE crypto token. And this company, "HIVE Blockchain Technologies Ltd." is where the hype is coming from.
What a series of fortunate events! LOL! People in crypto mistook the HIVE token for the HIVE company who doesn't have a crypto token. They are however listed on the Toronto stock exchange, the main stock exchange in Canada, as CVE: HIVE.
It looks like the company has been doing well in the stock market, at they pumped up to CAD$6.80 (USD$5.39) in February and now sit at around CAD$4.
Correction Due
I find it hilarious that these people buying up HIVE like mad didn't even check to see if the HIVE crypto coin was the same company as the HIVE stock. Some people are going to be kicking themselves soon for that mistakes. They just bought into something that is unrelated to the hype in the news. Haha.
Maybe I'm wrong. Maybe this isn't related to mainstream news about a Hive blockchain being the 'ultimate meme stock"... but the chances are slim. It would have to be a big coincidence.
It's great for us here at the moment. We got a nice boost in the value of HIVE in the crypto markets. When the news spreads of this mistake though, expect the price to go down a lot, and probably below the STEEM value is the current norm.
Hive > Steem
In reality, HIVE is much more valuable than STEEM in terms of being decentralized and the value of the ecosystem. We have a real community, since everyone that cared left the BS of STEEM for the greener pastures of HIVE (despite the dev fund issues and freezing of assets in the fork from Steem).
Hive has development, while Steem has nothing going on as far as I can tell. It's junk. Hive has popular and climbing apps like Leo Finance and 3speak. Steem can't even compare. But Steem has a 5 year old name.
It will take, but eventually reality will clash with the fake appearance/unreality. The crypto sphere will come to recognize the value in Hive/HIVE. And they should also come to recognize the over-valued Steem/STEEM.