Yeah, I'm still reading it now while Im putting this comment and the first one.
Anyway, last two days or three, BTC dropped down by 5% and surprisingly Hive stayed strong and was not affected by the movement. What do you think happened and supported Hive that time to stay at 0.16+ price? Any thoughts if you don't mind?
$HIVE is not a liquid asset and there are no perpetual contracts to trade, only spot. This prevents cascade liquidation to happen. It's nice to see price hold but I would prefer to have perp contracts available and be able to trade $HIVE both ways.
That sounds reasonable, I also prefer $Hive to have a prep contract, I think more traders in Hive would love it if it happened. More can trade and play $Hive both ways. However, somehow it will lose being a stablecoin.
What I mean is its state of being unshaken while big coins are having price swings.
Well, it's true sometimes it remains unaffected by these big dumps and/or pumps, but the bad thing is, look at those big wicks. A bigger order can move the market due to low liquidity and as much as we enjoy these quick pumps, it works both ways.
If this wasn't $HIVE but any other asset, I would call these scam wicks, or manipulation. But because I know $HIVE, this can be a big order. We've seen people throwing in 280 BTC before, so ... it's not so unusual. This is the time to accumulate if you trust the platform, everyone knows that.
This is a nice visualization, These upper wicks are good indicators. Thank you for having this.