Bad news Hive Fans
Here is an update on the recent crypto news regarding Hive:
- Binance made an announcement about stopping a specific way to trade Hive.
- They are getting rid of the Hive and USDC trading pair.
- The Hive and USDC pair will officially stop trading on Binance on July 30.
- Binance is also ending special margin trading for this pair.
- Margin trading lets people borrow extra coins to make bigger trades.
- On July 30, all leftover margin trades for this pair will close by themselves.
Why? I can only guess
- One main reason Binance removes a pair is when not enough people are using it to trade.
- The Hive and USDC pair had very low activity and low trade numbers.
What is the impact??
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Luckily, people can still trade Hive using another pair called Hive and USDT.
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You can still buy and hold Hive on Binance using other trading pairs.
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Six other crypto pairs were also removed by Binance at the same time.
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When bad news like this comes out, many people get scared and sell their coins quickly.
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The price of Hive dropped by about 8% after people heard this news.
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Being listed on more trading sites helps a coin become popular and trusted by more people.
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If prices keep falling, it could cause problems for Hive's stable coin, called HBD.
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HBD could lose its steady value just like another old coin called SBD did.
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But Bitcoin went up over $70,000.
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Sometimes when Bitcoin goes up, the price of Hive goes up a little bit too.
Posted Using INLEO
