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Simple. Not enough demand for the amount of liquid on markets.

To little reason for hodling $HIVE and to many who wanna sell their stake.

Nothing new. When $BTC goes up, it's "FOMO baby, I sell all my $HIVE to invest in Bitcoin." When BTC goes donw, it's "Sky is falling, I sell all my crypto, including HIVE to fiat."

People are selling HIVE to buy the coins that are going up?

Selling for other coins or tokens.