HIVE:HBD internal Market (Bitcoin / DEC)

Imgage Source: https://coinmarketcap.com/currencies/hive-blockchain/

The above screenshot has been taken from coinmarketcap.

As you can see the Hive Token has dipped below $0.038 USD per token. The graph above shows movement over a period of one year. Within that year the Hive Token has depreciated in fiat value by 82%. Below you will see a graph for Bitcoin. That graph also displays movement for a time period of one year. Bitcoins current USD value is 64,350 USD. As the graph shows Bitcoin has depreciated by 44.22%. This means the Hive Token depreciated in USD value nearly twice as fast as Bitcoin did over the same time period. That is not surprising as Bitcoin is the gold standard of cryptocurrency.

Image Source: https://coinmarketcap.com/currencies/bitcoin/

The above screenshot has been taken from coinmarketcap.

While I have faith that both tokens will surprise their current fiat value I do believe we aren't done dipping yet. This brings me to my next thought of HBD. Hive Back Dollars (HBD) is a native Hive Blockchain token that has mechanics that help it maintain 1:1 ratio with the USD. If the Hive Token is doing well those mechanics hold very nicely. If the debt ratio for HIVE increases that 1:1 peg is at risk of breaking. This has me wondering what to do with my small but not insignificant amount of HBD. Below you will see the most recent book orders and trade history of HIVE:HBD in-house.

Image Source: https://wallet.hive.blog/market

The above screenshot has been taken from the Hive Blockchain.

The first thing I notice is 0.040057 of HBD is needed to purchase one Hive Token. The percent difference between 0.038 and 0.040057 is approximately 5.27%. That means HBD is already trending 5.27% below a peg value of 1:1 within the Hive Blockchain internal market. I view this as normal fluctuation. HBD has been holding up very nicely in this bear market. Goes to show those who created the mechanics for HBD to maintain its peg did a stellar job at doing so. The HBD that I hold intended purpose was to purchase the HIVE Token. The question is when is the best time to do that. Should I adjust that plan? I don't have the answer but I will be looking at other options. It's always good to have a backup plan. Maybe I will purchase some Hive assets with it. I am very much invested in Splinterlands and DEC (Dark Energy Crystals) comes to mind. DEC is a currency within the Splinterlands game that is accepted at the ratio of $1:1000 DEC by the Splinterlands company when purchasing assets like core packs from them.

Image Source: https://tribaldex.com/trade/DEC

The above screenshot has been taken from TribalDex.

The screenshot above is a graph for the DEC token (Dark Energy Crystals). As you can see its been on a nice rally. Even though its on a nice rally it is still very much under its 1:1 soft peg that the Splinterlands company accepts it at. Currently 1000 DEC is worth 0.317 US$ on the secondary markets. For someone who is invested in and/or enjoys playing the Splinterlands game this looks like a very appealing option. What does the future of these tokens look like? Your guess is as good as mine but I believe in them all. Regardless of that belief its hard not to conclude that short term the Hive Token might be in for some further downswing. The same outlook is likely for Bitcoin. HBD is on the radar for de-pegging. DEC is on a rally and it will be interesting to see what comes of it over the next days/weeks and months. For now I'll keep holding my 1,000 HBD while keeping an eye on these markets. One thing is for sure. I won't be moving it off chain. I have yet to move a single Hive or HBD off chain. I have moved currencies on-chain. I don't intend on breaking that cycle just yet.

Start your Splinterlands journey: https://splinterlands.com/register?ref=rentmoney
This post contains no financial advice. Always do your own research before investing any of your hard earned currencies. This post contains a Spliterlands ambassador code. Clicking it and signing up to Splinterlands will give credit to the author at not cost to you. You can forgo giving that credit by clicking this link: https://splinterlands.com/. That's it for this post. As always we thank you for spending your valuable time here on the @rentmoney bog. See you at our next post.