HIVE does not exist in a vacuum and is subject to the same overall generalized market pressure everyone else is under.
STEEM has no DHF and if this was downward pressure from the DHF, our trends would look different.
but they don't.
We throw a lot of shade at the DHF without any actual proof by any real metric that it's doing anything negative to the price of hive.
Wrong.
Haircut coming quickly now …
It’s a Death Spiral.
People funded by DHF (crimson etc) are forced to to sell their HBD as quickly as possible … before it is de pegged and drops to zero
Well, I take it back 😂 That is a compelling argument vs the DHF if it is in fact the DHF causing that downward pressure.
Yes. I have been watching these charts for a while now.. Hive has been dropping since they started the DHF Funded HBD stabilizer …. Back when they started the 20% APY on HBD savings ….
The Hive blockchain initiated the 20% Annual Percentage Yield (APY) for Hive Backed Dollars (HBD) stored in savings accounts in April 2022.
This rate was officially introduced following a witness update published by block producer (witness) @gtg, where the HBD interest rate was adjusted to incentivize holding the network's algorithmic stablecoin.
In April 2022, the cryptocurrency Hive (HIVE) traded generally in the range of $1.00 to $1.50 USD.
