Hive in MOONvember

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Welcome to my monthly Hive post, it's a few days late as usual, but it is a busy time of the year what with UPtober and now MOONvember.

Since my last post, the price has moved from $0,194 to $0,2404. This is on the back of the huge pump we had reaching over $0,34. We have managed to keep some of the gains which is good to see.

The current supply of Hive stands at 459.56m which is nearly 5.6m Hive higher than last month. The inflation seems to be increasing.

The freely circulating supply excluding Hive and HBD (converted to Hive) held in the DAO is 325.04m. The DAO's Hive/HBD supply converted to Hive stands at 134.514m Hive. This means that the DAO is 41% of the freely circulating supply which is crazy high still but trending in the right direction when the token price increases... last month the DAO was 53% of the freely circulating supply.

What Hive needs is higher prices to make the amount of HBD in the DAO more manageable or the DAO should burn tokens to a new lower priced Hive reality. For a decentralised chain, it doesn't make sense to have such a huge DAO.

With the higher price, the Hive market cap has increased from $57.45m to $78.14m which is a nice 36% rise in market cap! My market cap figures are lower than you might see other places as I remove the Hive and HBD held by the DAO from the supply figures as they are not freely trading and this is standard practice for calculating market cap.

HBD & Debt Limit

The current supply of HBD is at 33,52m, which is a decrease in total HBD of over 200k since last month. This could then be the cause of the increased inflation. The supply of HBD outside of the DAO is 10.67m, which is a decrease of around 250k than last month.

The debt limit excluding the DAO stands at 13,65%. If we include the DAO HBD, the debt limit is at 42,9%. This has been a big improvement with the higher Hive price this month and shows how close to the danger level we get under a price of $0,20.

Summary

It has been a good month for Hive and we have had a nice boost to its price and market cap and need to keep the momentum to get to a healthier Hive price over $0,30.

Summary Date: 17.11.2024
Hive Price : $0,2404
Hive Supply: 459,560,197
Hive/HBD held in DAO converted to Hive: 134,514,177
Hive DAO: 39,464,572
Hive DAO HBD: 22,849,925
Hive Market Cap: $78,141,058
HBD Supply: 33,521,273
HBD Outside of the DAO: 10,671,348
Debt limit excluding DAO debt: 13,65%
Debt limit all HBD: 42,9%

Hive data taken from Hive Explorer.

Thanks for reading.

Credits:

Title image created with Hive logo and clipart from canva.

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