Updated: 27th April 2020
In the last 7 days, Hive is up by 600% and it seems Huobi listing played a major role. Moreover, Huobi is now trading 83% of the total HIVE.
Excitement within the tribe is on the peak. And that’s because Huobi, one of the leading crypto exchanges, has announced its trading support to its native token. Starting from 14:00 UTC on Friday, April 24, Huobi is set to support Hive trading.
At the time of the press, Hive price was up by a whopping 76.6%, trading close to $0.321 while Steem continued to trail behind at $0.174.
A U-turn it is
There is no doubt that Huobi was tricked by Justin Sun into believing that “Steem was at immediate risk of an attack” in early March. However, as soon as the real story of Steem’s hostile takeover plans began to surface, Huobi mobilized customers’ Steem holding.
Readers will remember that when the community-driven Steem-Hive hard fork happened last month, Huobi had immediately made an official announcement of supporting the fork. However, even as it supported the airdrop, Huobi had initially rebutted any plans of listing tokens.
But today by listing Hive, the exchange has proved that it will stand only by true decentralization.
The HIVE Is Alive On Huobi!
— Huobi (@HuobiGlobal) April 24, 2020
More trouble for Steem
With this, Huobi becomes the third exchange to support Hive trading. Earlier, Bittrex and ProBit had become the first two exchanges to list the token. However, Steem is still leading ahead of Hive in terms of exchange listings. Currently, 18 exchanges list Steem while with the Huobi addition, Hive is listed only on 3 exchanges. But, we sense Steem is in big trouble.
According to a tweet by @HivePeople, Steem has now lost potential business. He set out by comparing “Daily Time on Site results” between PeakD and SteemIT, with a stunning realization. PeakD is garnering 10 times more attention than SteemIT. To remind, PeakD is one of the leading DApp on Steem to have moved to Hive.
👁 Attention is the true value of any site.
We used Alexa rank to compare https://t.co/tqtMQ6A2U4 vs. https://t.co/wxeduBhMqM and the Daily Time on Site results are pretty shocking
📉https://t.co/tqtMQ6A2U4 = 24:21 minutes 📈https://t.co/wxeduBhMqM = 2:51 minutes #hive #steem pic.twitter.com/DjpzNkT7Hl
— Hive People 😼 (@HivePeople) April 20, 2020
In a fresh twist, Steem’s four former members Michael Vandeberg (@vandeberg), Nathaniel Caldwell, Steve Gerbino (@gerbino), and @theoretical recently formed a new company, OpenOrchard. Most importantly, Michael and Theoretical were founding members of the Steem’s blockchain launching team. And now, they have also moved to the Hive blockchain.
OpenOrchard believes that Hive will play a critical role in progressing the mission of full decentralization.