Keeping liquidity in SWAP.HIVE is a big problem
Today Hive had a nice pump. After a very long time, there is a price movement for Hive. This has not been the case for the last few months, I should say. It was very good to see a positive price improvement. I had bought a few Hive when the price was around 6 cents. Now for the 2-cent pump, I thought of selling Hive and booking a profit back. Unfortunately, I don't have the Hive in the main balance, but instead I had them as SWAP.HIVE. Now I have to convert them from Hive Engine to the native Hive Wallet and then sell them in the market.
Source - Gemini
This is a good opportunity because getting a 2-cent difference itself is a great thing. I would like to make use of this opportunity and sell some Hive to probably buy back later. But unfortunately, I do not have liquidity in the form of Hive. Instead, I have all my holdings as SWAP.HIVE. The main reason why I held some Hive in the first place instead of selling them was to book profits whenever I could and then buy back again. More like a small trade. But my funds are locked in as SWAP.HIVE. Now I cannot rely on the liquidity of SWAP.USDT or SWAP.HBD because they fluctuate, and their liquidity will also be very low right now.
If I have to use the native Hive Engine withdrawal option, I might lose a lot of money in the swapping part. Sometimes there can be offers like these where there will be a temporary pump and the price goes back to the same. In such cases, a small profit can be seen if played right. I think there should be more swap options available in the future that can take care of the automated trading.
If like what I'm doing on Hive, you can vote me as a witness with the links below.
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The slight price improvement is really encouraging with hive yesterday. It still shows how anything can happen with crypto market
We are hopping for the better and believing the best.
Even if you have missed out this time, there will always be a next time. Prepare yourself properly for the better days.
Thanks for sharing this insight here @bala41288 @balaz . Blessings 😇💕
Thank you for the valuable comments. Yes we all have great hopes on Hive and a slight increase in the value of Hive is definitely a big relaxation. I did do a small trade during this pump and got a small profit.
Thats so encouraging. We hope for better days to begin. Long live Hive 😇
All the best here dear friend 😇💕
https://uswap.app/ has lower fees.
I already use it. The problem is, there was no Hive left when I wanted to swap. It was all SWAP.HIVE there.
Looks fixed now.
A small suggestion for the future: if you want faster access to liquidity, it helps to move funds from SWAP.HIVE back to the Layer 1 side (HIVE/HBD). From there, Magi can offer more flexibility for transfers and interactions, as long as you have enough RC. Hive Engine has its own role, but Magi is opening more possibilities over time — it might fit better with what you’re trying to do.
Even though I'm a magi witness, I still have not explored it yet. As you said, yeah it is worth trying and understanding Magi.
It's great that you're a Magi witness, even if you haven't had time to explore it.The ecosystem is still very early, so a bit of exploration is definitely worth it - All 😊👍the best @bala41288
Yes there's an improvement on hive today, and selling your hive now i don't know if it's the best option. As it is hive is fluctuating its not stable.
I will suggest you to wait for a week or two, be ready with you Hive Tokens but do not go for sell now. Price will go up. You will make more profit. Just an Advice.
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