Hive is slowly turning the corner and looks bullish again

While Bitcoin is moving towards the $90k mark, it is great to see Hive follow the same pattern and uptrend. I decided to exchange a big chunk of HBD when HIVE price was close to $0.05 (or even lower) and seeing it now hovering around $0.056, gives me hope that I did the right decision. Not that we don't have our own problems with spending and supporting a higher value, but seeing it move into the right direction alongside the entire crypto market it means that this ecosystem and blockchain that stood the proof of time, it is still quite alive and kicking. And what I am excited about is that even in such harsh times when the governance token went to All Time Lows, the community kept on building by its own or using AI. And as that happened, the next bull run might catch us in a better position than expected.

I don't want to create hype around the Hive cryptocurrency, but rather hope and conviction that this ecosystem is still healthy and active. As a web3 social platform at the core, it is not easy to stand in time and preserve value while we've witnessed other platforms with big promises vanish in front of our eyes. But somehow Hive succeeded to keep some core communities and users and keep on going. So I believe we haven't touched our potential and while things might move slower than we want it, we keep on going.

In the same time I still believe that we should take a deeper look at Hive tokenomics and see where the funding is going and what value we get back from it. Utility projects reached their maturity and I don't think there is the need for them to tap into the DHF Funding. I am talking here about different UX projects for the Hive blockchain which got funded years after years and it's time for them to function on their own. They need to do an effort to ensure own funding as the Hive ecosystem cannot keep funding indefinitely such projects.

What we should look into are projects that extend the revenue channels and even reach into web2 and bring value back into the Hive ecosystem. Even if I don't have a clear idea about it, finding projects that can burn HIVE out of their revenues seems a good option to go for. There are failing projects that turn around to this - CAKE burning its own token from fees - and they start doing better once again and there is hope for new All Time Highs in the future. We need to dare and follow similar ways to grow the value of Hive. Otherwise, even with some short pumps, the trend will continue to be downwards.

But for today or the past few days, let's enjoy the fact that Hive is moving into the right direction. And while some users went dormant in the bearish times, I am sure they are awakening again. Let's see Hive back to $0.10 and probably there will be a rush of existing and new users back at the table. This is the crypto cycle and I think while nobody expected such a pump this year, we'd better enjoy it and make the most of it. So let's keep on building and growing the Hive ecosystem as what we do now it could pay on multiples in the future. Good luck!