Past 7 days in Hive: More volatility and Hive-Engine got a halt.
It was a roller coaster ride in the Hive for the past 7 days as Hive price is swinging on both sides. With the current price of Hive at 31.8 cents, it is currently 16% more than its lowest recorded price of 27.35 cents in the week. On the same time it is 10% less than the recorded max price of 35.26 cents.
Source: 7d Range $0.2735 – $0.3526
Depending upon which day of the week in the past 7days, you opened your trade in Hive, you may be in a loss or in a profit in Hive. I also noticed that Bitcoin volatility for the past week for it's min and max value is less than 11% but in the same time frame, Hive volatility for past week for it's min and max value comes to around 29% and it is another clear indicator that Hive price trend not in tandem with Bitcoin price.
Source 7d Rangec $92,876.12 – $102,038
Though Bitcoin is currently trading below the iconic 6-figure mark it is not at all difficult for BTC to trade again at above $100K.
Hive volatility is also evident in the post payout also, if you chose 50/50 % option, then HBD you receive as post payments, do not equate to the market price of the Hive, if you want to buy the same amount of Hive from the market that you received from post payout.
Hive-Engine update: Everything up and good now.
Hive-Engine was spammed heavily with the microtransaction by a newly created bot shaggroed. The Layer2 sidechain was not able to process the transaction created by this bot and in first glance it look like that these transactions were created purely for malice purpose. Block processing suffered due to these transaction and chain started lagging as it took much more time to process a block instead of 3 second. Though no funds are lost but I will consider it as an "economic impact" as Hive users are stucked as if they are sending or receiving funds through the Hive engine.
Wallets were inaccessible for 2 days and tribal outposts were almost not accessible for 5 days. However, if you have used the tags in your post they got picked up when the interface came up.
As per the official update, everything is normal now and they have taken some measures so that in the future this spam attack cannot happen by limiting the number of transactions an account can post in Layer 2 in a single block.
I missed Hive-Engine during that period and look like not only Hive, Hive-Engine is also a part of my Hive journey that I/we rarely talk about.
Posted Using INLEO
