Hive Backed Dollar slacking, not good for the trust in HBD!
Where’s the peg?
The last few days, Hive Backed Dollar has been trading way below the one USD peg. And that concerns me, if we want HBD and Hive to thrive, the peg to the dollar is really important. It shows that the mechanics aren’t working as they should be working. Which creates a huge dent in the confidence in HBD.
Cashing out now is disastrous
Imagine you had planned to cash out some of your heard earned Hive Backed Dollars around now. You really would be screwed pretty hard and lose almost 10 % of your dollars worth. Yesterday it was even more. That’s just sad, and it shows that the project is just not reliable enough at the moment. And by that we are losing potential new users. And that’s just such a shame. A good peg would create so much more interest in HBD and Hive!
Let’s hope these issues can get resolved quickly and the peg can be held correctly in the future.
Sincerely,
Pele23
Not good news indeed. Fortunately there are mechanisms that should get the price back to $1.
I wonder what happened/who massively sold HBD...
It seems the price is low on one (low volume) exchange only. The rest shows an (almost) perfect $1 peg.
You are acting too fast, HBD is probably the most secure dollar pegged cryptocurrency of them all... its already back to $1 now one hour later...
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I don’t have much faith in CMC, greatly preferring coingecko.com
But anyway, easy come easy go, as of a few minutes ago we’re back to par:
Mmm, and yet Ecency says it is still at 92 cents
In coingecko everything is fine and if you go to the internal market from hiveblog, you can also check that the HBD is in perfect condition. The truth is I don't understand what happened, because in coinmarketcap it comes out that way, I was also a little worried, but then I could see that everything is in order.
CMC is basing their HBD price on the price at a very low volume exchange, and other places use CMC as their price feed. In reality, HBD has been very good at keeping its $1 peg. Not perfect, but good.
I just wrote more on this issue here:
https://peakd.com/hive-167922/@kenny-crane/re-rehan12-rkskvk
Thanks for bringing this matter up for discussion! :)
i noticed the same , but we are already up again..