Hive Token HIVE Price Prediction

https://www.beaxy.com/, just like its counterpart Steem supports a vast array of information-sharing applications. Hive is a decentralized network that supports information-sharing applications. It supports Myriad DApps, APIs, and front-ends, all of which contribute to the general and straightforward accessibility of data, transactions, and records. The information provided is for general information purposes only. No information, materials, services and other content provided on this page constitute solicitation, recommendation, endorsement or any financial, investment, or other advice.

Furthermore, transactions using blockchain technology can be expensive and timely, Hive has been designed to remove transaction fees and speed up transaction processing times. A list of the top Hive markets across all crypto exchanges based on the highest 24h trading volume, with their current price. Many cryptocurrency traders pay close attention to the markets when the current Hive Token price crosses an important moving average like the 200-day SMA. You can predict cryptocurrency prices by considering both on-chain and off_chain metrics, as well as technical indicators that take into account Hive Token’s past price performance.

What Is Hive

It launched in March 2020 as a hard fork of the centralized Steem blockchain and as a gateway from Web 2.0 to Web 3.0. The platform powers decentralized applications like Splinterlands, PeakD and HiveBlog. The Hive Ecosystem currently consists of 126 apps, communities and projects. One of these, Hive Blockchains is Hive.blog, a social application created by Hive blockchain and reflects Hive’s attempt at developing social media using blockchain technology. Meaning users can earn HIVE without requiring either financial investment or technical knowledge of mining. All content is stored on the blockchain and remains publicly accessible.

An overview showing the statistics of Hive, such as the base and quote currency, the rank, and trading volume. Use the calculator to convert real-time prices between all available cryptocurrencies and fiat. HIVE is the native cryptocurrency for the Hive network, and this is the liquid form of the cryptocurrency.

Hive Token Price Forecast Based on Technical Analysis

The network itself promotes their zero transaction fee policy, however, the users would need to pay for their account creation depending on the option they choose. So as we mentioned the network allows for original articles to be stored and posted on the Hive blockchain to earn rewards with HIVE. To receive rewards your article will need to be upvoted by the other users within the community. The whole ecosystem utilizes an inflation mechanism for reward distribution but that is not the only thing which affects the rewards as the value of the HIVE token also comes into the equation. To boost your chances of a good reward you can even swap your HIVE for Hive power which are influence tokens within the network. Hive’s price quote is based on transactions taking place at each exchange.

Steem uses a delegated Proof-of-Stake consensus model in which users leverage their STEEM tokens to vote for delegates, which handle the network’s consensus process. Hive is a blockchain platform that was created as a hard fork of the Steem blockchain. The fork happened thanks to a joint effort of a faction of the Steem community which was highly critical of Justin Sun’s acquisition of Steemit Inc. Any number of things could affect HIVE’s value in the future, including changes to regulation, the rate of adoption by retail and institutional investors, and technological developments. Because unknown future events can affect the price, it is impossible to make a precise forecast.

Most investors find it best to apply both technical and fundamental analysis techniques when evaluating a purchase or sale. Hive HIVE does not have a predefined maximum supply or hard limit. This implies that the protocol may generate additional HIVE tokens beyond its existing supply in the future.

Overall, this stock passed 11/33 due dilligence checks and has average fundamentals, according to our automated analysis. The Hive Blockchain to USD chart is designed for users to instantly see the changes that occur on the market and predicts what will come next. Wallets are incredibly important to securely store your cryptocurrencies and to interact with Web3 apps. Hive has multiple community-owned and open-source wallets available for Windows, macOS, Linux, iOS, Android & Web. On Mar 20, 2020, the data was transferred to a new blockchain, and a separate distribution and a new set of decentralized goals were set.

Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision. Let’s use a 1-hour candlestick chart as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about Hive Token’s price action in 1-hour chunks.

• Because unknown future events can affect the price, it is impossible to make a precise forecast.
• Any investment or trading is risky, and past returns are not a guarantee of future returns.
• Furthermore, transactions using blockchain technology can be expensive and timely, Hive has been designed to remove transaction fees and speed up transaction processing times.
• The information provided is for general information purposes only.
• There are countless ways to analyze crypto performance and make a buying decision.

Hive is an open-source blockchain built for decentralized applications and social interaction. The project is structured to ensure its ecosystem is welcoming to content creators, consumers, investors, and builders. There are several wallets promoted by the network on their website, but generally, you can use any appropriate software or hardware wallet. The software ones are usually cheaper but the hardware ones are safer. Storing HIVE on any of the exchanges you bought them from is also a possibility, but it is looked down upon by some traders because your tokens are in control of a third party.

HIVE’s financial health

The blockchain is live and working and the token is already listed on Bittrex and ProBit. Binance, which was a key player in making the controversial witness replacement possible, apologized for their involvement and distributed HIVE tokens to users who had STEEM on the exchange. Government regulations have a great impact on the price of Hive and other currencies. Tax policies, regulations regarding investments, mining restrictions, government plans for official digital currencies, and other developments can move the crypto market higher or lower. This means that the government can’t cause inflation – devaluation of the currency – by firing up the printing presses. Binance has the lowest transaction fee rate amongst all major trading platforms.

• More and more celebrities are promoting cryptos and NFTs to millions of followers on social media.
• 4 Ways to Earn Cryptocurrencies in You can now earn cryptocurrency as a consumer or content creator without having the skill to mine or invest in a single crypto coin.
• Traders also like to use the RSI and Fibonacci retracement level indicators to try and ascertain the future direction of the HIVE price.
• The Hive coin is a cryptocurrency purposely built to support content-oriented decentralized social blogging platforms.
• Some traders use different moving averages than the 50-day and 200-day SMAs to define death crosses and golden crosses.

Each candlestick will display HIVE’s opening price, closing price, as well as the highest and lowest prices that Hive Token reached within the 1-hour period. Hive Token traders use a variety of tools to try and determine the direction in which the HIVE market is likely to head next. These tools can roughly be divided into indicators and chart patterns. The 50-day SMA is calculated by adding together Bitcoin’s closing prices in the last 50 days, and dividing the total by 50.

The community is bullish as more than 77% of users are feeling good about Hive today. Hive-backed dollars are a unique type of trustless stablecoin that is backed by the underlying value of the Hive blockchain itself and pegged to the USD. This backing takes the form of an onchain conversion operation that lets HBD be converted to an equivalent USD value of Hive itself.

Circulating supply shows the number of coins or tokens that have been issued so far. To check Hive’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page. And social media dApps with an emphasis on speed, scalability, security and spacious storage. The launch of the project was announced by members of the Steem community. The Hive platform was born as a result of the struggle for control over management between Justin Sun and Steemit Inc.

The first token is used to tokenize your influence on the network and you receive rewards based on it while the second token is a stablecoin which always aims to be pegged to $1. The top crypto exchanges that have Hive available for trading, ranked by 24h trading volume and the current price. The Hive coin is a cryptocurrency purposely built to support content-oriented decentralized social blogging platforms.

The decentralized blockchain is built on the Delegated Proof of Stake consensus mechanism. Delegates verify transactions and create new blocks on the blockchain on behalf of investors, namely 20 selected Witnesses create blocks randomly, and users can stop delegating at any time. In general, the procedure reduces the centralized control over the network. All posted original content is permanently stored on the Hive blockchain. Voting for content creators is available on the platform, it’s carried out with HIVE and HBD tokens within a 7-day period.

hive cryptocurrency price leverages the coined Proof-of-Brain concept by distributing a portion of the inflation to content creators and consumers. The Hive ecosystem comprises many well-known DApp projects, including NFTMart, LeoFinance, and Splinterlands trading card game. Hive simplifies cross-platform integration by allowing the declaration of custom JSON objects to store text data on-chain, enabling any modern web application to be integrated with Hive.

It’s the world’s first massively scalable Delegated Proof-of-Stake blockchain that is entirely decentralized and user-controlled. Transactions can be made immediately upon ETC account creation, with no financial investment required for users to participate in the Hive ecosystem. Most traders use candlestick charts, as they provide more information than a simple line chart. 1-hour, 4-hour and 1-day candlestick charts are among the most popular. Some traders use different moving averages than the 50-day and 200-day SMAs to define death crosses and golden crosses. However, all definitions include a short-term SMA crossing above or falling below a long-term SMA.