I think what we're seeing is a loss of confidence in major projects, and people are turning back to Hive basics.
!BBH
!PIZZA
!ALIVE
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Yet hive is still having a shitty performance which bring people to HBD which worsen even more the HIVE price : (
It'd almost be better to have a small burn mechanism so if people are converting from HIVE to HBD, it burns a small amount in the process.