Hive Pump = Cheap Engine Tokens
By now I am sure that most of you have seen the massive pump that Hive had yesterday. If you haven't, here is what it looked like:
In the past I have written about how Hive pumps were frustrating because of the fact that Hive is difficult to power down and often we miss the chance to sell, but one thing that I did not notice before was the effect had on other tokens in our ecosystem.
As people see the price of Hive rising, they are wanting to get in on the action and one way that this can be done is by selling Hive-Engine tokens for Swap.Hive. When this is done, people are often selling those tokens for less than they would have without the time-sensitive issue of getting in on the pump, resulting in downward pressure on token price.
I really like that this happens as it allows you to add to your gameplan other than just trying to flip Hive for more Hive after the eventual dump. I was able to stack a few CHAOS legion packs for 15% cheaper than I would have gotten them for before the Hive pump. The packs are currently trading on the Hive-Engine around $10 at any given moment and I was able to get them for a little under 8.
In addition to downward selling pressure there is the obvious reality that Hive becomes worth more money and if you have some liquid, you have more overall spending power so you can just wait for orders to hit the market that appeal to you.
I know that this phenomenon can be seen pretty much across the board and it seems like people have caught on because prices have rebounded almost fully following the Hive dump today. It is funny calling it a dump when the price is still riding around 88 cents, a crazy reality we have as we are earning it on all of our blog posts.
Whatever your plan is when a hive pump comes, be sure to factor in price differences in the rest of the ecosystem, it is a great opportunity to build on your holdings across the board here on Hive.
@sgt-dan with this sick pic:
@gr33nm4ster made this awesome gif I needed to share, we thank him as well!:
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Yea the HIVE pumps always cause a lot of selling in HIVE engine as people want to get enough HIVE out for profit taking. However it looks like the pump hasn't lasted as long so who knows what will happen.
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They seem to be rather short pumps happening near the end of each month
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People will definitely wants to sell more hive engine tokens in other to get more hive for profit but it could also be an opportunity to get other token at a less price.
Exactly
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