HBD stabilizer had generated a profit of approximately $1.5 million, adding funding for the DHF, helping to stabilize HBD, and, on net, removing many millions of HIVE from circulation.
So in effect, it's also helping hive price ? Creating less supply and more demand situation ?
No one can guarantee what a price will do but historically yes, the stabilizer has been a source of a lot of net demand and reduced supply for HIVE.
Right now the trend is actually moving a bit down because a suddent sell of a lot of hive on the market, but it will be stable soon, im keeping a eye on the markets rn. Data can only be look and analized at a later date, in a few weeks after the burn it will be show if it helped or not :)
Probably most of the short term move down is the wider global markets pushing everything down rather than anything specific to Hive but who knows.
Hive already doged the market down past week, is not as influenciable right now thanks to some heavy holders XD
You're right about the burn aspect. I removed that sentence as it was confusing.
When HBD is under one dollar, the funds recieved from the dhf in form of hbd are first converted to hive and then used to buy hbd on the internal market to support the one dollar peg ... basicly hive is sold for hbd