July 22, 2024

Hive community successfully separated from Steem

Hive community successfully separated from Steem

A few weeks after the Tron Foundation bought the Steem blockchain, the platform community conducted a hard fork andlaunched its own network called Hive.

On March 20, the Hive network split off from Steem. STEEM token holders have received the appropriate amount of the new Hive cryptocurrency. It is worth noting that most content creators are already publishing their posts on the new platform. Steempeak co-founder Scott Jarvey said:

We asked all community members to expresstheir honest stance as to whether they want to stay on Steemit or switch to Hive. I read every post on the platform and can hardly find at least one person who would be against switching to Hive.

Over the past few weeks, the STEEM token has shown increased levels of volatility. After the purchase of the network by Justin Sun, the price of the asset fell by 60%. 

After the announcement of the hard fork, the price of currency soared200% in 18 hours. Many experts believe that such pressure from buyers demonstrated the desire of investors to make money on hard fork and airdrop. This point of view is confirmed by the fact that after the fork, the price of STEEM fell by more than 50%.

Based on materialscointelegraph.com