Did Splinterlands Cause HIVE to Spike Yesterday?
We've all seen the huge spike HIVE had yesterday. That seemed very much similar to other such movements in the past.
Upbit, the Korean exchange that usually is at the center of these big swings, yesterday had a reported volume (on Coingecko) of multiple hundred million USD on their HIVE-KRW pair, whereas the regular daily volume for HIVE is around 10m USD.
However, yesterday might have been a little different...
Also yesterday an announcement was made by Huobi Global on their blog about the imminent listing of Splinterlands' SPS on their exchange and the creation of the spot trading pair SPS/USDT.
That is important news, as Huobi Global is a major centralized exchange.
Like Upbit, it has Korean origins, but unlike that exchange and as the name says, it is global. Of course, given its origin, it has a high influence in SE Asia, and such news made waves there first, probably.
Let's not forget that Koreans are major video game players and at least a few top players in Splinterlands back in the day were Koreans.
I don't know how many of them are still active, I know some lost interest in time for reasons that aren't related to the game, necessarily.
Such news of listing SPS could have made waves for HIVE too, even though SPS runs on BSC. SPS and DEC also took off yesterday by about 20% (a similar percent), but nothing like HIVE with an 80% pump.
I found out about the listing by listening to the Town Hall meeting (well after the pump), but there was a brief announcement in discord as well, after that.
Looks like it's a paid listing from the SPS Foundation, but people were asking for listings of the Spliterlands tokens on centralized exchanges in the past, and I believe it's great to have at least one major such listing.
I thought I had an account at Houbi but looks like I don't. Maybe I should create one, interested to see if that could become an off-ramp at some point.
Also in the Town Hall meeting yesterday, the next meeting from next week was being hyped, where some interesting announcements should be made about secret stuff they can't talk about yet. I wonder what surprises they kept secret from us? :) Looks like that's going to be an interesting Town Hall meeting.
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👍🏻 Makes kind of sense this theory. Still speculation but we’ll justified.
Of course, it's speculation. It's not like they're going to provide me with proof. :)
I know. What I mean that it is „well combined“ and has a certain probability of being correct. 👍🏻
Thanks for the update.
I was able to make some moves yesterday, having a bunch of DEC available made it so I was able to buy some income tokens "on sale"
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Good move! I haven't checked them out, but even if I had, pretty much everything right now goes to my goals. I need to make looser goals next year, to allow for some room for maneuvering.
I agree, Adrian. It would probably be beneficial to have an account with Huobi Global. Of course, when I went to the site, it immediately informed me that the USA could not play in their playground.
Interesting point, though. I think Hive needs to be listed on more exchanges so that this won't be such an impact.
I am okay as long as they follow the same trends as I was able to capitalize on this one, but I understand that it is very risky.
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I didn't know it doesn't work in the USA. Another one that doesn't work there.
I agree, on a personal level, it can be very profitable and quite predictable to make a profit during these swings.
Unfortunately I can't use Huobi in the United States. Thanks for the information.
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Sorry to hear that. I haven't even tried it myself, maybe it doesn't work for me either, lol.
Haha, I would like to say good fundamentals played a part...
But we all know it was nothing more than an exclusively Upbit driven pump and dump like always.
Also gotta always remember that these massive CEXs don't list tokens because they're good.
They list projects because they're paid a fuckload of money.
Hive can learn a thing or two here ;)
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I tend to believe this time it was a combination of both. They profited from the announcement to pump it once again.
Of course! Could work for small ones looking for some liquidity and exchange fees, but the big ones are greedy.
Unlikely it was that mate, probably more speculation and market making.
Maybe a little bit of both this time. Speculation and pumping based on the positive announcement that had the market in the right mindset.
Little guys like us don’t make the wave’s, but with a bit of practice we can make some gains by riding them.
Did you sell any hive for HBD this time?
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I only had an insignificant amount of HIVE which I exchanged for HBO at around 0.85. Waiting to exchange it back.
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Damn this autocorrect. I meant HBD.
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That is quite interesting and it's nice to see SPS being listed there. I am still waiting for more use cases for SPS but it bodes well for change where DEC will be replaced with SPS for people.
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Yes, I agree, that was a great surprise! And hopefully one that will reflect well on the price of SPS too, besides the short spike it had when the news broke.
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approaching the %0,50 target price still! But it is feasible that Splinterlands could make such big waves.
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Yeah, I'd be happy to see them again and even lower for some time.
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I seldom visit Discord throughout the day that's why I miss this type of announcement. It's good that you keep us updated. Thanks for sharing!
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You'd be surprised. Often I don't keep my discord opened either for a good part of the day. But sometimes we lose some momentum.
Yeah, too many things occupy our time.