Things are moving very quickly with anything HIVE/USDT futures trading related which is now reflecting positively in the steady price rise. What I find interesting is we are not even getting any pull backs which you would normally see. Corrections are considered healthy as apparently nothing can just keep going up in a straight line. The problem for HBD is it doesn't look like it is getting a chance to get back to the peg. In the past this may have happened once or twice a month with an instant correction, but this is now not exactly normal or is out of nowhere becoming the new normal. Today when the entire market is red HIVE is green up 16%.
If we look back at what has happened previously with most HIVE pumps is they have almost always corrected and retracted within 48 hours with only a slight positive to the overall HIVE price. This is how HIVE managed to benefit from these pumps rising a small percentage each time. 74% within a week as a gain is excellent.
With the last 3 HIVE price rises it has become evidently clear that my plan of using the HIVE internal market to swap out between HIVE and HBD and back to HIVE again is not going to work very well. The problem is with HBD not keeping it's peg and a HBD at $1.20 helps no one. I see it is back at $1.03 today, but that is not where it should be.
If you think about it you are actually losing out on or were up to 20% with HBD being that far above the peg. Some trades you are only looking to earn an extra 5% or 10% and tis makes it impossible to achieve. The early bird should get the worm when it comes o trading and I was early on 2 occasions, but the internal price of the conversion rates were so off what was happening externally.
**Bitget only started this morning and already has volume over $200 million.
So much for the idea of trying to keep all my HIVE within the HIVE eco system as this is virtually impossible to even consider achieving now. A stable coin like HBD on an internal exchange should have been our secret weapon and is now more of a liability which will end up costing users especially when HBD increases. If you convert at the wrong time you will in theory lose the extra value HBD has gained and if t was at $1.20 and eventually lands back at $1 you have lost the 20% so it has not benefitted you at all.
It made no sense the other day when HIVE was above 60c externally and internally we were around 53c. Only when I saw HBD was at $1.19 did it make sense and why it is a non starter. I am all for having a stable coin, but make it stable. If you look at the chart you will see we have not been stable at all and if that was a heart monitor the patient would have been dead.
Surely we have the brain power and technical ability on HIVE to fix this as these pumps are not goin to be random anymore and will become regular. We are not just dealing with the Koreans, but the entire market now. This is a good thing for HIVE, but bad news for HBD.
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