Hive is having quite the impact
Not only did we just get Hive listed on Hotcoin.com which has had volume rivaling Binance without KYC, but we just had 2 massive announcements from Binance and Bitget: They have listed Hive as a perpetual futures contract!
Not sure exactly if anyone on Hive's side initiated this (probably not), but it's probably a reaction to the now almost casual $100M daqily trading volume we are getting since Upbit's whales have decided to pump (and dump) Hive in a big way again.
https://x.com/bitgetglobal/status/1871105223894470753?t=BQ_HWdZPfEc4yaJZzOfMyw&s=19
Just one hour later we get the same announcement from Binance:
https://x.com/BinanceFutures/status/1871131027328086157?t=FywozgeLi43AUMBak_z2tQ&s=19
It's clear that CEXs want to profit from these incredible volume spikes and if the past has been any indicator, then this high volume will be with us for the the next year or so.
Futures Good or Bad?
Hive seems to be listed on 5 CEX's perpretual markets with two being noteworthy: Ourbit (never heard of them) and MEXC that have had a daily $48M volume together. One big pro of futures is that it increases volume by a lot...
If MEXC already has over $30M volume then what will that be on some of the top CEXs?! This could be big...
The potential for increased liquidity and market exposure is big and with Hive closing in on the #200 rank in cryptocurrencies we are certainly making waves at the moment. Hive is getting noticed and it's about time! Futures of course also have some cons, e.g. it increases volatility and price manipulation. These two factors are already a huge problem for Hive.
We occasionally see Hive pumping by 70% and dumping by 60% and it's clear that Upbit's whales are doing this every time at 00:00 UTC... Oh well, maybe if we are already this volatile and prone to p&ds, adding futures won't make such a big difference anymore.
Conclusion
It's interesting that we are getting this much attention recently at the exact same time when it should all have happened. 2021 vibes are strong. But this time Hive is in a very different position. @vsc.network is going to add liquidity pools with HBD and Hive and BTC etc. will be paired giving us hopefully for the first time deep liquidity on DeFi.
Liquidity problems for Hive could be a thing of the past very soon and it all truly feels like we are just starting to scratch Hive's potential. We will have a great future. #Notbullishenough
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