Alts overall this cycle aren't doing much, that's because of the institutional players involved now. Bitcoin is the gold standard, ETH is the oil, and then you have things like Solana and LTC looking at getting ETFs as well. Other than that, I say you can blame all the shenanigans with memecoins and scams that have put a bad taste in people mouth's over the space as a whole. From what I am seeing, it's not just HIVE that is bleeding. Hive's biggest problem, is, and always has been, the sell pressure coming from those at the top. Most DPoS systems are concentrated at the top, and those players are always looking to take profits.

I haven't seen those "Korean" pumps in a long time either. When prices of an asset do not 'number-go-up', then people are not interested. Hive's earn for nothing model and inflation doesn't help either. People can come in, get AI to write some posts, earn some coins, powerdown, and dump without having any real value ever put into the ecosystem. There isn't any value proposition to actually buying HIVE at all other than governance stake, which honestly, nobody cares about governance really, they just want their bags to pump. That's why there aren't that many real world businesses that have made it here other than Splinterlands, and it's not doing very well these days from what I understand.

There has to be a solid value proposition for people to want to invest into the HIVE token enough for the price to move in a significant way, and it's just not there anymore.