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RE: Hive price is a bit concerning
Alts overall this cycle aren't doing much, that's because of the institutional players involved now. Bitcoin is the gold standard, ETH is the oil, and then you have things like Solana and LTC looking at getting ETFs as well. Other than that, I say you can blame all the shenanigans with memecoins and scams that have put a bad taste in people mouth's over the space as a whole. From what I am seeing, it's not just HIVE that is bleeding. Hive's biggest problem, is, and always has been, the sell pressure coming from those at the top. Most DPoS systems are concentrated at the top, and those players are always looking to take profits.
I haven't seen those "Korean" pumps in a long time either. When prices of an asset do not 'number-go-up', then people are not interested. Hive's earn for nothing model and inflation doesn't help either. People can come in, get AI to write some posts, earn some coins, powerdown, and dump without having any real value ever put into the ecosystem. There isn't any value proposition to actually buying HIVE at all other than governance stake, which honestly, nobody cares about governance really, they just want their bags to pump. That's why there aren't that many real world businesses that have made it here other than Splinterlands, and it's not doing very well these days from what I understand.
There has to be a solid value proposition for people to want to invest into the HIVE token enough for the price to move in a significant way, and it's just not there anymore.
I like to think of HIVE as an alternative to NOSTR where you can actually exchange value (on NOSTR you have to KYC to attach a wallet). If VSC allows users to deposit and withdraw any cryptocurrency, maybe HIVE would get some eyes as the decentralized social media protocol.
Throwing thoughts out there.
It's been a hope and a dream for the last 5 years... Still waiting... lol...
people or at least a vast majority of them don't really care about the decentralization aspect.
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I never had to KYC to get on Nostr.
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This isn't so, most are 400% plus above 2022 bear low, give us 35% below its 2022 low. It's not alone, But the majority of space is in a bull cycle.
I will say some.. Not most... My point is they aren't going to be running thousands of percent like many have done in past cycles unless you are gambling on complete shitcoins. The market is more mature and liquidity is pooling with the top assets. The proof is in the volume and marketcaps... Most run because algorithms control the markets and try to run with bitcoin unless there is some kind of fundamental play that causes it to crash, or it's a rugpull. But anything on Binance and Coinbase is all controlled by bots at this point, so it's the whole rising tide effect, but that correlations is starting to break.
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