I'm certainly perplexed by the situation that is being created and how it is causing that much volume.
The activity with STEEM is confusing as well. SBD collapsed back closer to a Dollar and then did a U turn back up to over $3 and then STEEM is pumping.
Do you feel that this HIVE pump has anything to do with people getting confused thinking they are buying the Fake AI play called HIVE AI $BUZZ on Solana? It had popped up in the Phantom wallet saying it was up hundreds of thousands of percent.
The reason I say that is we have had a few of these pumps and if it was pressing the short sellers I would have thought they would have already gotten their backs blown out.
It's hard to say what's going on but it seems like a combination of market makers playing games on top of the fact that Hive is very illiquid due to powerups on top of the fact that everyone on Hive knows to sell pumps
This creates massive demand to use the futures market to create liquidity but then results in these crazy funding rates because nobody is going long