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Dispute Between Steem And Hive Resulting In 17.6 M Freezing Of Assets

By Tyler Smith – Crypto Investor

The tension has escalated between STEEM and former Witnesses as Steem executed a Soft Fork resulting in the freezing of accounts holding 17.5 Million Steem coins, worth roughly between $3.1 to $3.2 million at time of writing. This equates to 5% of the total supply which is not good news for people buying and selling cryptocurrency on this chain as it could cause issues in demand.

Softfork 0.22.888 was proposed on April 4th. This resulted in STEEM blocking approximately the top 20 ranked accounts that met the necessary criteria.

Threats to Steem Blockchain,

The Steem network needed community support to enable the soft fork in which the author stated the need to protect Steem and found that 50% of witnesses were using version 0.23 prior to Hardfork, claiming it be a hostile version.

Hive within hour nosedives 50%

On April 6th, the price of HIVE suddenly crashed 50% over the space of a single hour. Consolidating at approximately $0.12 with the daily volume of HIVE roughly standing at $575.000. An increase of approximately 4266% on the previous days daily volume.

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