New cryptocurrency launches 790%

Hive, the 37th largest cryptocurrency by market capitalization, has seen a huge wave of volatility reminiscent of the 2017 wild bull market

n just four days beginning on April 22, Hive jumped 790%, going from $ 0.11 cents to $ 0.98.

A likely explanation for the jump is the recent adoption of digital assets by a number of major exchanges, including Binance Bittrex and Huobi Global.

Hive is the fork of the blockchain Steem, which is the basis of the social platform Steemit.

Shortly after Justin Sun’s acquisition of Steemit last month, members of the platform management community launched Hive as an independent and decentralized alternative.

After its massive rise, Hive retreated to $ 0.58 at the time of its release, according to CoinMarketCap.

It currently costs more than the original Steem cryptocurrency, which is now valued at $ 0.22.