It’s all about Stable Coins!
HBD or Hive Backed Dollars
- HBD is in the news lately, as the witnesses voted to increase the interest rate paid for holding them to 20% APR
source
HBD interest rate 20% which is paid monthly.
Average American Bank Savings Account Interest is 0.06%.
Yes 0.06% that’s fricking amazingly low
This is means Hive Backed Dollars pay 320 times as much!
It’s a huge difference
So what’s the average Stablecoin interest rate? 2% to 20%!
- I searched a few sites and this one had the longest list. coin-interest-rate
It looks like HBD has one of the highest rates in all of crypto.
This brings me to my opening thesis: “Will HBD be the Killer App that puts Hive on the map of cryptocurrency?
And why?
My thoughts
- Stable coins have always been big in cryptocurrency.
- Ask anyone what USDT or Tether is and they all know. It is the biggest or one of the biggest coins in crypto.
Look at the top ten cryptos on Coinmarketcap by MarketCap! #3 and #5 are Stablecoins!
If you rank by daily transaction volume you get 3 of the top 5 are stable coins!
Utility is a killer App!
How many people in crypto have heard of USDT TETHER? USDC? BUSD?
These are practically household names!
In crypto households
HBD: Hive Backed Dollars the killer App?
So could a stablecoin be the thing that finally puts Hive on the map?
Could this finally put Hvve on the Cryptocurrency list of Who's Who?
I think Utility is King and Hive could create a lot of interest in Hive by being the highest APR stable coin opportunity!
What do you think?