Steemhunt Holding Strong: Reviewhunt On Its Way

I make no secret that @steemhunt is one of my favorite projects on Steem. The team that is assembled seems top notch and they are continually coming up with creative ways to advance their product. Overall, they are trailblazers on Steem.

The recent IEO make the token open for trading. This also allowed the HUNT holders to sell some of their stake. The team decided to protect the price of the token by limiting those who received the tokens during the bounty period to a portion of their account each day. I believe it is 1/90th a day people are allowed access to.

I was told there are a great many in a couple third world nations who got heavily involved in Steemhunt. Thus, it makes sense there would be a lot of selling pressure. The IEO price was 2 cents and the token, as of this moment, is trading at 1.8 cents. This is a minimal decline considering all the tokens that were earned and now are available for sale.

The volume on the HUNT token was very strong, with over $1M traded each day. Today, it is closing in on the $500K mark. Again, with so many token holders, it only makes sense to see the downward pressure. The drop in volume could mean this is subsiding a bit.

Those who look at this for the long term potential got a boost earlier this week. The team announced they are entering the alpha stage with Reviewhunt.

Reviewhunt is essentially a bounty program. This time, instead of promoting Steemhunt, those with new technical products or applications can offer tokens to the Hunt influencers as a means of getting the word out. They can also offer free products to the influencers as part of the bounty.

https://token.steemhunt.com/

The Beta version is expected to be released in July. This is the second phase of their system. The final stage, as it is planned now, is Ideahunt which will allow for the funding of technological ideas. This will essentially turn Hunters, who are interested, into venture capitalists by funding the development of different ideas.

https://steempeak.com/steemhunt/@steemhunt/hunt-token-24h-volume-hits-over-usd1-2m-or-sponsor-report-53

This project is showing how valuable being an early adopter can be. Those who supported the project early on received healthy payout in the form of bounties. This dwindled over time as we saw the advancement of their plan. Even now, we are still at the early stages with the development only kickig off.

For a project that is a little over a year old, they made some remarkable progress. The ideas presented by them allowed other applications to follow suit. We also see an account that has $1.4M SP delegated to them that is upvoting those accounts who are active on their site. This is a "Whale" spreading votes around, thus helping the distribution of SP.

I look forward to the beta release of Reviewhunt and ensuing Ideahunt. It is exciting to think about taking out tokens and funding ventures that are starting to get off the ground.

Steemhunt is the epitome of crypto-economics: allowing average individuals into a game that was previous reserved for the elite few.

We all can be venture capitalists now thanks to Steemhunt.

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