Introduction to HBD: A USD-Pegged Stablecoin on the Hive Blockchain
Hive Backed Dollar (HBD) is a native stablecoin issued on the Hive blockchain, with the core objective of maintaining a stable peg to $1.HBD was launched in March 2020 when the Hive blockchain forked from the Steem blockchain; its initial distribution was based on the holdings of Steem Dollars (SBD) on the Steem blockchain at that time, with no initial coin offering (ICO) or pre-mining.
HBD’s stability is primarily maintained through internal conversions between HIVE and HBD on the Hive blockchain. These conversion mechanisms typically include a waiting period of approximately 3.5 days, designed to prevent potential abuse during periods of market volatility and thereby enhance price stability.
HBD Market Overview (as of July 30, 2026)
As of this writing, HBD’s market performance is as follows:
- Current Price: The price of HBD typically hovers between $0.90 and $0.92, with the goal of pegging to $1.
- Market Capitalization: HBD’s market capitalization is approximately $29.78 million to $29.96 million.
- Circulating Supply: The current number of HBD in circulation is approximately 33 million.
- 24-Hour Trading Volume: HBD’s 24-hour trading volume is relatively low, ranging from approximately $180 to $740, depending on the data source.
Historical Price Data:
- All-time high: HBD has reached prices ranging from approximately $3.97 (according to CoinGecko) to $6.00 (as mentioned in the KuCoin FAQ), typically during periods of extreme market volatility or de-pegging events.
- All-time low: HBD’s all-time low has ranged from approximately $0.41 to $0.42, with the most recent occurrence on March 11, 2023.
Please note that the above data is subject to change over time and is provided for reference only. Stablecoin prices typically exhibit low volatility, but de-pegging may still occur under extreme market conditions.
How to Buy and Sell HBD
Trading HBD is similar to trading other cryptocurrencies, but it also has unique characteristics due to its nature as a stablecoin and its specific blockchain ecosystem.
1. Centralized Exchanges (CEX)
Centralized exchanges are the most common and relatively simple way to buy, hold, and trade cryptocurrencies. Users typically need to register an account, complete identity verification (KYC), and deposit fiat currency or major cryptocurrencies (such as USDT or BTC) to begin trading. For HBD, its listing on major centralized exchanges is relatively limited.
2. Decentralized Exchanges (DEX)
Decentralized exchanges allow users to exchange cryptocurrencies directly by connecting a Web3 wallet (such as MetaMask or other wallets that support EVM-compatible chains; however, since HBD is a native token of the Hive chain, a wallet that supports the Hive chain is required).This method typically requires users to first hold other base cryptocurrencies, which they can then exchange through the DEX’s liquidity pools. Since HBD is the native token of the Hive chain, trading of HBD on DEXs is primarily concentrated within decentralized applications (dApps) in the Hive ecosystem.
3. Internal Conversion on the Hive Blockchain
As the native stablecoin of the Hive blockchain, HBD can be converted between HIVE tokens and HBD through the Hive blockchain’s built-in mechanisms. This conversion is one of the core mechanisms for maintaining HBD’s peg and is typically performed within a Hive wallet or an interface that supports the Hive ecosystem.Users can convert HIVE to HBD or HBD to HIVE, but should be aware of any potential waiting periods involved in the conversion process.
4. Peer-to-Peer (P2P) Trading Platforms
Peer-to-peer (P2P) trading platforms allow buyers and sellers to transact directly, typically offering more flexible payment methods. However, P2P transactions require users to independently assess the credibility of their counterparties and be mindful of potential unfavorable exchange rates or fraud risks.
HBD Listings on Exchanges
As of this writing, direct trading services for HBD on major cryptocurrency exchanges are relatively limited. The following is a summary of HBD’s exchange listings based on publicly available information:
- Upbit: Currently, Upbit is considered one of the primary exchanges for trading HBD, and its HBD/BTC trading pair exhibits relatively high trading volume.
- KuCoin: KuCoin does not currently support direct buying or selling of HBD. However, the platform may provide guidance on how users can acquire HBD through other channels.
- Binance: The main Binance exchange does not currently support direct trading of HBD. Users may need to connect to a decentralized exchange that supports HBD via the Binance Web3 wallet to trade, but this does not constitute a direct listing on the Binance platform itself.
- Kraken: Kraken does not currently support HBD trading.
- Coinbase: Coinbase displays HBD market statistics, but the platform does not currently offer direct trading of HBD.
Please note that some sources may mention HBD’s historical listings on certain major exchanges or trading via third-party brokers; however, according to official statements from these exchanges, HBD is not currently directly listed on their main trading markets. Before conducting any transactions, please be sure to verify the latest support status and liquidity of your chosen platform on your own.
Risk Disclosure
Although HBD is designed to function as a stablecoin, its price may still fluctuate—or even temporarily deviate from its peg—due to market supply and demand, the health of the Hive blockchain, macroeconomic factors, or specific events. When buying or selling HBD, be sure to fully understand its mechanisms and potential risks, and choose a trusted trading platform.The cryptocurrency market is highly volatile; please carefully assess your own risk tolerance.
