Hive serves as a decentralized information sharing network with a blockchain -based financial ledger, built on the delegated Proof of Stake (DPoS) protocol.
Launched in March 2020 by a group of community members, developers and investors who believe in the common goal of decentralization.
Uniquely, Hive has support for a high transaction volume, combined with a fast 3 -second block time and low transaction fees, making it an ideal platform for building highly interactive applications on most blockchain networks.
It also has a unique focus on a 2nd layer architecture to distribute application loads across different sidechains, enabling scaling beyond traditional smart contract networks.
Looking at the HIVE/USDT chart, the price movement can be seen to have made a good 2021 market record producing over 800% increase recording the all -time high (ATH) reaching the $ 1.06 price level on March 28 last.
At the opening of the market in July, the price movement was seen to be moving positively producing over 50% of the spike so far which has been the concern of investors.
From a technical point of view, the price movement is seen to have penetrated the RBS zone (resistance become support) around $ 0.36 and is focusing next to test the resistance zone around $ 0.42.
For the next expectation, the price movement is likely to make a higher rise if it breaks the resistance zone around $ 0.42 and heads to the next resistance zone.
However, if the price movement fails to maintain the upward momentum, the price movement will re -test the RBS zone space around $ 0.36 before making a lower decline.
At the time of writing, HIVE is trading around $ 0.40 with a market value of over $ 170 million in the last 24 hours. Coins currently rank 167th in the crypto market.
