Finally some movement up for Hive!
End of the tank?
Since about a few hours Hive has taken off upwards and has gained almost 15 % in value.
And that is nothing too soon, Hive had dropped to almost an all time low. So a jump in price for Hive was really necessary, not just for Hive but also for LEO and other tokens linked to the Hive platform.
Secondary effects
The growth of Hive’s price also has secondary effects, the interest rate on Binance suddenly jumped from 1.30 % to 5 %. Which makes it a lot more attractive to have Hive in your wallet or portfolio!
Hopefully this rise goes on further!
Sincerely,
Pele23
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That’s what I thought today too ! Finally some upside. 😅👍🏻
That's because the short-sellers are gearing up again.
Short-selling works like this: the short-seller borrows coins, sells them to force the price down, buys them back at a lower price, and then repays the coins with interest.
Their profit = the price they sold at minus the price they bought back minus the interest due.
Say they borrow coins at 5% APR for a month, but manage to force the price down by 15%. Their profit = 15% minus (5%/12) = 14.58%.
People who want Hive's price to rise but are lending coins to short-sellers are CONFUSED!
It used to be very interesting to put Hive on Binance at 20 % APR, some days even 40 %