Hive (HIVE) crypto rallies over 11%. What's next in store?

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Hive (HIVE) crypto rallies over 11%. What's next in store?

 Hive (HIVE) crypto rallies over 11%. What's next in store?
Image source: © Inueng | Megapixl.com

Highlights

  • Hive (HIVE) crypto operates as a decentralized information sharing network, which comes in with a blockchain-based financial ledger.
  • Serving as a blockchain for DApps, it allows the users to share videos and audio files, and they can claim the ownership of these files with a photo of the same, thereby giving the ownership to the creators.
  • The HIVE crypto on Wednesday was trading at US $0.642585 and a trading volume of US$38,67,85,812 over a day, according to CoinMarketCap.

Hive (HIVE) crypto operates as a decentralized information sharing network, which comes in with a blockchain-based financial ledger. Powered by the Delegated Proof-of-Stake (DPoS) consensus, it supports different types of information sharing applications. 

Serving as a blockchain for DApps, it allows the users to share videos and audio files, and they can claim the ownership of these files with a photo of the same, thereby giving the ownership to the creators. Its unique features include several Web3 apps on its platform, such as Splinterlands, HiveBlog.cy etc. 

The Hive crypto on 29 June witnessed a rally of 11.71%, at 11:30 AM (GMT + 1), according to CoinMarketCap. 

Why is Hive crypto rallying? 

Hive crypto has been showcasing rallies for close to a month now, with rallies of 36.6%. This stretched further during the 14 days when it zoomed by 80% and 59% in the past week or so. 

Wednesday's rallies seem to be one the back of the rewards program which the protocol had announced on 28 June, wherein it said users who participate in its AMA session would become eligible for a US$100 USDT reward pool. 

Hive's unique peer-to-peer model allows its users to connect directly with the files' owners without the need for intermediaries. By combining the factors of increased speed and fee-less transactions, Hive is well positioned to be one of the leading blockchain technologies that people around the world use.

Price performance

The HIVE crypto on Wednesday was trading at US $0.642585 and a trading volume of US$38,67,85,812 over a day, according to CoinMarketCap. The 101-ranked token had a live market cap of US$28,61,51,067 with 44,53,12,127 HIVE coins in circulation. 

While the rally would give the investors much-needed momentum, they would do well to keep an eye out for any sudden price changes, which often come following a rally. With the volatile crypto market, they must conduct proper research before venturing into such markets. 

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