Crypto

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.

Related Post

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.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

World Foundation Raises $65 Million Through OTC Token Sales As It Expands Operations

The World Foundation has revealed that it recently completed a series of over-the-counter (OTC) sales…

3 days ago

Bhutan Government Quietly Sells Off Over $120 Million In Bitcoin This Year As Transfer Activity Starts Picking Up Again

The Government of Bhutan has been steadily reducing its Bitcoin holdings this year, and it’s…

3 days ago

Intercontinental Exchange Deepens Its Bet On Polymarket

Intercontinental Exchange is making another big move into the prediction market space, this time adding…

4 days ago

Users To Launch AI Agents Directly From Browser In Seconds

Virtuals has just introduced a new product called “Virtuals Console,” and it’s already getting attention…

4 days ago

Felix Protocol Expands On-Chain Trading With 260+ Tokenized Stocks And ETFs On Hyperliquid

Felix Protocol is making a clear move toward bridging crypto and traditional markets. The platform…

5 days ago

Ton Blockchain Moves To Fix Wallet Connection Issues With Walletconnect Integration

The TON Blockchain has taken another step toward making its ecosystem easier to use, this…

5 days ago