HIVE has been one of the most trending coins in crypto market in the popular CEX Binance for quite some time, for offering one of the most alluring APR for staking HIVE in its earning tab. As you may recall the APR at one point almost crossed 50%. Which was probably one of the most epic moments of owning HIVE and get the benefit from holding onto those coins. I also made a post on this topic with the title Crazy APR on HIVE (50% APR), you can check it out, what was actually happening and how lucrative that offer actually was.
I was curious about the fact, regarding the crazy APR and I was just thinking how long will Binance be able to keep this drama on for? As of writing this post, the fun and excitement has come to an end. With all the fuzz and fun the APR has dropped down to an amount where it is worth probably nothing. In fact, you will be able to get a much better APR from your HIVE by staking them in HIVE Blockchain. In fact, you get to curate and have some fun with your HIVE while getting the benefit from your HIVE.
HIVE APR From 50% to 4%!
Now, coming to talk about the APR, it has dropped to a solid 4.34% as of writing this post. That is something which I was not expecting anytime soon. I am not sure what has happened to Binance since they offered crazy 50% APR few days back for having their users HIVE being staked in the CEX. Moreover, what was their agenda for offering the 50% APR for staking the coins in the subscription tab of theirs, no one will know except the ones who were behind it.
Although, I suppose there were users who had liquid HIVE in their wallet, they were able to take the most benefit from this incident. I was able to encounter some of those folks and I must say, they were indeed having some fun while holding onto their coins and just unstake them when they thought it was well worth it. Well, the unstaking period compared to HIVE in Binance is much more favorable.
Hive has been creating buzz in outside media portals. Mostly on X. The users on X have been promoting HIVE in their own ways, which probably attracted the attention of CEX. With the lucrative APR, the CEX Binance they were able to get some liquid HIVE in their hands which probably gave them some insight and allowed them to have some room to play with HIVE in terms of trading volume. I must say, while all this melodrama of APR was going on, the trading Fees of HIVE while trading in Spot was going off the roof. Which was also probably a nice marketing strategy of Binance.
To be honest, it is indeed difficult to say, what was actually going on and what is not. As all of these writing are just speculations and guess for the time being. But what matters most is the community users got some benefit and users outside of HIVE were able to get to know about HIVE thanks to these sudden outburst of APR. As it seems like people are already noticing us and what the community is doing in on HIVE. Which resulted people, jumping over in the chain. We just probably need some more guidance and some more awareness for the new users! As sometimes the chain can be little difficult to understand and people start misusing it and eventually ending up in the wrong foot. Thus having a negative impact within the minds of these new users. Hopefully, things will get much more easier in the coming days and HIVE will become home to content creators, gamers, investors in mass!
Best regards
Rehan
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