HIVE is down 64.9% over the last 12 months and is currently under $0.004 and more accurately at $0.0393. The 64.9% drop in value is not that bad as plenty of other crypto's far bigger than HIVE have suffered a similar fate. When Bitcoin is down 30.3% and Ethereum down 40.8% you would expect the smaller caps to suffer far worse.
Below are some larger caps and they have suffered a similar fate as HIVE has.
Cardano -69%
DOT -73%
Filecoin -67%
Sui - 58%
AVAX - 51.1%
The elephant in the room is HBD because out not so stablecoin is up by 265% and is a liability. I know Upbit the South Korean exchange is the only place where HBD is traded so the prices can be manipulated and why in my opinion it should be relooked at for what value HBD plays in our HIVE eco system.
This may be a blessing in disguise being delisted because then it will only be traded on our internal HIVE exchange which is traded at $1 even if externally it is traded at $1.14 or $3.51 which is not great to see. This is as bad as being undervalued lower than the $1 peg like SBD is currently at $0.44 up from $0.23c. Who can forget that this was valued at $19.02 back in May 2021. I can recall many HIVE users discussing when it hit $18 before we moved onto the HIVE blockchain.
Back to the HIVE price sub $0.04c is not terrible news as I mentioned many other crypto's are in the exact same position having lost huge value not only this year, but over the last 5 years. Kind of crazy and scary in 11 days it will be exactly 5 years from when HIVE reached the all time high of $3.41. Since that day we have been on a steady decline and have never come close to any type of recovery. The hope of a Bull cycle this time last year never materialized and we hop for something next year or who knows possibly 2028 or 2029.
The crypto cycle that we once knew and loved that made crypto easier to work with has fallen by the way side and who knows where we are these days. In the crypto world things change so quickly and we are all guessing not knowing what is coming next. There has been so much outside influences over the years that has directly impacted the crypto cycle such as the collapse of FTX and the Binance hack last month. These are major events that one cannot plan for and the market takes a backward step which takes time to recover.
There is very little we can do if the HIVE price continues to drop and the only positive solution is to remain active and grow your stake. This decline in price cannot continue forever and things have to eventually turn around. Sadly we do not have the tech or demand to decouple from the crypto market and we will always follow Bitcoin's moves which does give us hope.
