RE: Hive is nearly 5 times the price of Steem
Hi @bala41288
Great to see your post within our project.hope community :)
It's indeed interesting situation. Amazing pump. I think it's clearly related to upcoming airdrop which will take place on 28th (huobi exchange)
I heard that tomorrow is going to be the reward day where people get rewarded for their holdings on Huobi.
On 28th. Which is the day after tomorrow.
I've seen 2 similar airdrops done before (different crypto) and I've burned myself once.
there are many daily traders behind current volumes. And they are not interested with airdrop. They will be there as long as they will see demand. At some point demand will die down.
And then they will sell, knowing that right after airdrop price will tank. So I would expect that price will climb up until sometime tomorrow and then I would expect first dump
Right after airdrop - there won't be much buying pressure and selling pressure will be insane
so I would expect price to go up maximum till tomorrow. last 24h would be used by day traders to close their position. Am I making sense? Just wondering...
Cheers
Piotr
Yes you are right. There are definitely daily traders out there just enjoying the pump and the volume. They neither care about the airdrop or the Hive platform. But for people who use this platform, this is a golden opportunity to observe their profile value increase.
Today Binance is listing as well. There is a high possibility of a dump if I'm not wrong.
thanks for your prompt reply buddy. appreciate it :)
You are welcome. :-)