The price of Hive has surged by more than 460% in less than a week. The Hive token is ranked in the top 50 cryptocurrencies by market capitalization on Coinmarketcap now. Hive is a part of Rapid Listing Initiative by WazirX. Because of this initiative STEEM deposits/withdrawals are not enabled on WazirX.
“WazirX has distributed the HIVE Tokens to all eligible STEEM holders.“– Priyanka Sharma, CoS, WazirX
The Graphene-based social blockchain, Hive is launched with the core idea of decentralization. Hive’s prime selling points are its true decentralization, speed and scalability. WazirX has started HIVE/USDT trading without enabling its deposits and withdrawals, which means:
- Deposits: Users won’t be able to deposit HIVE from another wallet to WazirX.
- Trading: Users will be able to buy, sell, and trade HIVE in the exchange’s USDT market. When users buy HIVE, it will appear in their “Funds.”
- Withdrawals: Users won’t be able to withdraw HIVE from their WazirX wallet. However, they can sell it in the USDT market.
Global Cryptocurrency exchanges like Binance, Bittrex, Probit, Huobi Global, CoinDCX, Hotbit, MCX Exchange and BHEX have listed Hive blockchain on their platform in the last few days. After the HIVE listing of announcement Binance, it appears to have resulted in a bearish pull-back recently. However the scene is different with WazirX till now.
Hive is an open-source blockchain, forged in years of development to bring Web 3.0 to the world. With a diverse community of stakeholders and without controlling bad actors, individuals can experience true ownership in a decentralized blockchain & cryptocurrency. It is an ideal building location for a variety of innovative projects focused on a broad range of fields, from open source development to social games. Hive aims to be the preferred blockchain for dApp development. For more information, please visit: Official Website of Hive.
WazirX is the largest cryptocurrency exchange of India based in Mumbai, Maharashtra. The exchange was launched in March 2018 by Nischal Shetty, Sameer Mhatre, and Siddharth Menon. WazirX offers a system, which allows users not only to trade digital assets but also to buy and sell cryptocurrencies such as Bitcoin, Bitcoin Cash, Litecoin, Dash, and many more. For more information, please visit: Official Website of WazirX.
Source: WazirX Medium Blog