Summary:

• Hive price (HIVE/USD) spiked 18% in the last 24 hours, extending the 7-day gains to over 70%.

• Trading volume also increased by more than 70% in the last 24 hours.

• The blockchain ecosystem is based upon a Delegated Proof of Stake protocol (DPoS).

Hive (HIVE/USD) has spiked nearly 18% in the last 24 hours, pushing its 7-day gains well above 70%. The Delegated Proof of Stake blockchain ecosystem also witnessed a volume spike of more than 70% driving its market capitalisation above $645 million.

Hive is a decentralised information-sharing network launched on 20th March 2020. It also includes a blockchain-based financial ledger, which allows content creators, investors, builders, and consumers to share data across various applications.

Should the bull run be your betting strategy?

Hive is an attractive investment opportunity for those looking to enter the blockchain-driven IoT marketplace. Its long-term outlook is bright, considering that companies continue to invest in data gathering and analytics tools.

Therefore, although HIVE/USD is up more than 100% in the last 30 days, it may not be too late to buy the utility token of the DPoS protocol-based blockchain ecosystem.

Investors could aim for technical pullbacks around $1. 50, or lower at $1.28. For those who are willing to ignore the short-term turmoil in order to achieve long-term gains, extended gains of $1. 82, or higher at $2.01.

In summary, HIVE remains an attractive buy despite recent rallies.