I have been speaking of how HIVE gains are transferred to rest of the Tokens that are linked to HIVE for a long time. One of the primary reasons I can point out for this is HIVE-Engine having all of its trades priced against SWAP.HIVE instead of a stablecoin like HBD. The search features on HIVE are not very good and I cannot find my old writings on what I had to say about the impact of HIVE-Engine on Tokens prices against HIVE. Hivesearcher is a great tool developed by @ecency team. It is still not as amazing as I would like it to be.
Price of HIVE + L2 Tokens
As you can clearly see, the rest of the Tokens are following the trend set by HIVE in a way reminiscent of BTC leading the gains in cryptocurrency at times. I don't want to fill the page with too many price charts. You are welcome to do your own research. In fact, I would encourage readers to become familiar with research tools and play around with them occasionally to come up with market insights.
I was not born with knowledge on markets. I researched and through my own critical thinking became a capable trader. I'm inexperienced and not the greatest trader by any means. Take a look at traders like @khaleelkazi @empoderat @scaredycatguide for a more experience and maturity.
DEC: An Alternative To Stablecoins
HIVE can be easily traded for HBD through following exchages:
The exchanges by @ecency and @peakd offer the best features. If you have not come across them, take a lokk and see the improvements they have made. Most of it is overkill for a simple trade. That is no excuse to slack off on features.
The situation with wrapped assets is much different. I don't actively trade on Polygon and BNB Chain. I'm not a fan of the downgrade experienced when moving away from HIVE. Projects like KoinDX are not even released yet. HIVE-Engine is not a hostspot for stablecoin trading.
That is why I bought DEC with HIVE. There is a soft peg and serious utility for DEC. DEC is usually one of the Top 3 Tokens by trading volume. The slippage is likely to be very low and limit orders can be optimized to have the best exchange rates.
The Immediate Impact of HIVE Gains
The numbers in red are against HIVE which went up more than 40% in a matter of minutes. Every single Token you are looking at gained against USD. Sudden price shocks are felt more when the assets are paired with volatile cryptocurrencies like HIVE instead of HBD or even DEC. This impact is compounded by the fact that traders get to take their profits at zero transaction fees. There are only deposit/withdrawal fees on HIVE-Engine and these can be minimized via a bridge like @uswap
HIVE is Full of Under The Radar Surprises
Consider the content of this article as a small dose of the things to experience on HIVE. There is a rabbit hole after rabbit hole for those who care to learn. The mainstream and Crypto Twitter is utterly oblivious to what is going on with things related to HIVE. Smart investors who stick around can get a tremendous competitive advantage over regular traders simply through regularly engaging in HIVE activities!
Check Out HIVE Projects
Posted Using LeoFinance Beta