Steemit Fork Hive Shoots up in Value Before Crashing by 37%
Ever since the Steem blockchain forked into Hive, there have been concerns as to how viable the project would be. In the price department, the newly spawned crypto asset seems to have all bases covered right now.
When a social platform using blockchain technology forks, things do not look good.
Hive is Doing its Thing
Steemit, once hailed as the popular alternative to centralized social platforms, underwent such a fork a few weeks ago.
As a result, the “competing” network hive was created, with its own native token.
Many people expected this newcomer to fail pretty quickly, but that is far from the case.
In fact, the Hive price is rising and dropping rapidly as more exchanges provide exposure to this crypto asset.
In most cases, altcoin values will soar when new exchange listings are announced.
More often than not, these are small trading platforms with little overall volume.
For Hive, the listing on Binance will undoubtedly get people excited.
It is also worth noting that the fork’s native asset is worth three times more than Steemit’s STEEM.
That further goes to show that the fork was more than warranted, and enthusiasts are happy with the way things have proceeded up until this point.
Image(s): Shutterstock.com
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OhNoCrypto
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JP Buntinx, Khareem Sudlow