We have plenty of crypto stocks priced under the dollar in the crypto market. Many of them are still trending in the marketplaces, barely moving beyond 50 cents. Some of them never even crossed 10 cents.
A lot of such penny stock cryptos don't serve many purposes. A lot of them lack use cases (exception TRON), but apart from that, most of the penny stock cryptos are placed as if it is trolling the makers of those coins.
Where does the Hive fit into this? Is it just another penny stock crypto?
Hive has a Use Case
Hive has splinterlands, leofinance, dcity, drops, and many other games and tribes that are fueling the economy of the Hive. A lot of tokens within the hive are basically serving the economy based on its usage.
Unlike Dogecoin or most of those clone coins, which are nothing but troll attempts in the market, you will find that Hive is serving a purpose. It's a serious business of content creators, developers, and business people.
Hive has potential to cross dollar, It did in the Past
Hive crossed prices larger than a dollar in the past, so it is technically not a penny stock crypto coin. It may have a low price as of now, but once the market appreciates, it would get higher pricing based on the investment from outside.
Compare this to the TRON and STEEM, they are not going to be rising anymore. And with each day they are going to be dead and buried soon. Hive has potential, and it has proved itself beyond the penny stock level of the crypto coins.
Hive is not dependent on Celebrity Market
Dogecoin moves it's price based on the Elon Musk's push. A single tweet and support from celebs on Twitter can move some of the coins. In that context, we don't have any celebs pushing the Hive. Yet we are staying decent level with the development of the ecosystem.
So by not needing the big guns, we are basically playing by the strength. Moreover, we are not relying on the market, which is often artificially boosted in its price. So let us see if this makes the coin stronger in the long run.
Hive has a potential to become one of the Top 20 coins. All it needs the increase in adoption among the consumers. Once it does, it won't be compared with the altcoins under dollar as if it is some penny stock.
What do you think?
Penny stock crypto coins are trolling the market. You can invest in them if you have the trading mindset and can see through the rug pulls. However, it is always a good idea to invest in coins with a use case, and the hive is just that. :)
What is your opinion?
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Totally agree with you on Hive but I wouldn't declare Tron dead just yet. It's done really well during the recent dips and it's actually +10% on the 7-day chart. I remember that in recent years many people have laughed at Tron, but there it still is, at top-20. Quite resilient asset.
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I consider myself as a newbie in the cryptos world, but what I found is that HIVE provided an environment that works, even if they loose value at the market at a particular moment. I feel more confortable reading news at my favorite community feeds, than spending time on facebook and other social networks, Probably because the fact that contents are curated, people care more about the quality of what they write.
Every point is valid, and to be honest think about the economy behind the scene. For the outside people it is just Hive and the price, but we know how much value Hive Blockchain creates with so many dApps and Play2Earn games.
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I agree with you Hive is a great Crypto!!
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Dear @esmeesmith, we need your help!
The Hivebuzz proposal already got important support from the community. However, it lost its funding a few days ago and only needs a few more HP to get funded again.
May we ask you to support it so our team can continue its work this year?
You can do it on Peakd, ecency,
https://peakd.com/me/proposals/199
Your support would be really helpful and you could make a difference.
Thank you!