š Hive Stats Nov 2025: The "Cheers" Effect & The Economic Leak
Data vs. Reality: Are we biting the hand that feeds us?
November 2025 is behind us. If we look at the charts, we see a clear trend: the ecosystem is shrinking. But if we dig deeper, we find a paradox. While the user base declines, the rewards distributed by curators remain constant.
Let's start with the hard facts.
š Part 1: The Numbers (The Trend)
There is no other way to say it: the social layer of Hive is contracting. We are currently seeing the lowest activity levels of the last 12 months.
The Yearly Drop
First, let's look at the macro view. The drop since the peak in May 2025 is undeniable.
| Period | Active Users | Posters | Posts | Comments |
|---|---|---|---|---|
| 2024-12 | 15,045 | 11,037 | 76,955 | 241,442 |
| 2025-05 (Peak) | 17,878 | 7,388 | 74,711 | 264,695 |
| 2025-09 | 13,735 | 6,419 | 65,306 | 221,456 |
| 2025-10 | 8,100 | 6,617 | 62,575 | 199,656 |
| 2025-11 | 7,227 | 5,765 | 54,753 | 168,652 |
The Daily Reality (November)
Here is the daily breakdown for November. The number of active posters now hovers around 1,500 per day.
| Date | Active Users | Posters | Posts | Comments |
|---|---|---|---|---|
| 2025-11-01 | 2372 | 1540 | 1863 | 6402 |
| 2025-11-05 | 2383 | 1591 | 1865 | 5940 |
| 2025-11-10 | 2419 | 1630 | 1980 | 6381 |
| 2025-11-15 | 2266 | 1510 | 1776 | 5397 |
| 2025-11-20 | 2290 | 1501 | 1812 | 5165 |
| 2025-11-25 | 2315 | 1563 | 1884 | 5525 |
| 2025-11-30 | 2061 | 1330 | 1536 | 4483 |
(Selected dates for readability, the trend is consistent)
The Conclusion: The "noise" is fading. Many casual users have left. Only the core remains.
š Part 2: The "Smart Money" & My Personal Reality
Here is the interesting part. While users are leaving, the Curators (the accounts with voting power) are still performing as usual.
The Top 10 Curators alone cast 22,932 votes in November.
| Curator | Votes (Total) | Avg/Day | Diversity | Total HP Value |
|---|---|---|---|---|
| appreciator | 3342 | 111.4 | 24.2% | 94,205 HP |
| ocdb | 2534 | 84.5 | 33.1% | 38,709 HP |
| curangel | 3026 | 100.9 | 31.4% | 19,791 HP |
| leo.voter | 1839 | 61.3 | 18.7% | 18,084 HP |
| ecency | 7244 | 241.5 | 19.2% | 14,223 HP |
| TOTAL (Top 10) | 22,932 | 764.4 | 11.6% | 192,875 HP |
Together, they inject roughly 192,000 HP in value into the system every month.
Statistically, with fewer posts and constant voting power, I should have a roughly 30% chance of being upvoted.
The Painful Truth (No "Added Value")
However, statistics are not reality.
Personally, I rarely get a curation vote.
I do get an upvote from leo.voter on about 40% of my posts published via InLeo, but let's be honest: that is because I am a Premium Member. It is a perk of a subscription, not necessarily a badge of quality.
But the organic curators? The accounts listed above? They ignore me.
That probably means that the curator accounts don't see any added value in my posts.
Probably because I don't use the popular tags (like #photography, #travel, or specific community tags).
Should I cry now?
No, I don't care to be honest. I write because I like it. But it is a stark reminder that "added value" on Hive is defined by a very small group of people.
š Part 3: The Economic Reality (The Sell Wall)
There is a deeper economic issue. Where does that 192,000 HP go after it is paid out?
Too much of it flows directly to exchanges or is converted into other crypto.
Services like reward.app have become popular because they allow users to bypass the vesting period and get liquid Hive immediately.
Every token that is "earned" and immediately offered on the exchanges just adds to the Sell Wall.
- The larger the sell wall, the harder it is for the price to move up.
- The lower the price, the less attractive the ecosystem becomes to investors.
By constantly extracting liquidity without reinvesting (Powering Up), the community is effectively biting the hand that feeds it. At the current pace, Hive risks turning into a "Penny Stock"āa network with high activity but very little value per unit.
š» Conclusion: The "Cheers" Effect
With a shrinking and "bleeding" user base, Hive is changing character. It will turn into the bar from the sitcom "Cheers":
"Where everybody knows your name."
- The Good: It's cozy. Engagement is personal.
- The Bad: A village without new blood slowly withers.
Meanwhile, the majority of the Hive blocks are filled with Splinterlands battles and automated actions, but that is a separate world from the bloggers.
I will keep writing, because I enjoy it. But we have to be realistic about the direction we are heading.
Cheers,
Peter
Posted Using INLEO
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STOPecency works similar to leo.voter, its all about which d.app you use. So you can only pick one of them, not both.
I know. Thatās part of the game I guess.
I am realistic too, trying to be active
That's all we can do. I do try to tweet (of or is to X these days?) about my post about the prediction model with a link to hive. But that is about where my influence stops :(
Just to clarify: LEO.voterās team manually curates all inbound content created via INLEO
Your posts are curated because they originate from our interface
Whether or not to vote is determined on quality
Once a post is decidedly voted by curators on our team, a % vote is granted based on certain params. Of which āif premiumā is a parameter
TLDR; the voted on your content from LEO.voter are because:
It is a mix of the variables and some continue to say that we only vote premium posts which is contrary to the onchain data. We vote anything posted from INLEO. Premiums appear more in the feeds + get priority when it comes to how large of a % we use
Additionally, anyone who posts from INLEO also earns LEO which is the most valuable HE token
I recommend everyone at least post from INLEO if they want more upvotes, engagement + LEO in addition to their Hive/HBD rewards :)
"Thanks for the detailed clarification! I appreciate the transparency on how the workflow operates.
I completely understand that manual curation is subjective and the team can't catch everything. However, I admit Iām currently struggling to figure out where the 'Quality' bar sits regarding my content.
For example, my recent deep-dive into how AI replaced my need for developers was skipped, despite being original, long-form content.
Similarly, my AI Sports Model predictions often get passed over. I realize raw sports data might be a niche topic, but considering the coding and effort that goes into the model, it feels disheartening to see them skippedāespecially when I often see much simpler, lower-effort content circulating with curator support.
If Premium buys 'visibility,' Iām just hoping that visibility can extend a bit more to these data-driven posts!"
I think a lot of people feel the same way as you. I'm kind of here until the end either way. I just try to keep my head down and do my thing. I have a feeling eventually things will turn. One way or the other.
The question is if the turn already has started. If that is the case than it could go fast!
Some are trying a quick win system but by doing that they are stabbing the system in the back. And more or less killing it!
I think a lot of people feel that way, but there are a few who seem to be a lot more educated than I am on this sort of thing that still have hope for HIVE. I choose to think they are right! :)
I am realistic too. That's why I am leaving.
Too bad. Will stick around.
Thanks for sharing. Interesting to see the things you more or less feel or see are proven by the numbers. A lot must happen for Hive to thrive again, but I don't see any of that coming anytime soon...
Let's just have fun blogging for now š¤·āāļø
I do think that is the only thing we can do. Trying to add value.
Could you compare hive price vs user numbers & activity numbers? I just saw we are now bellow 10 cents, so any correlations?
I can have a look at that. I know from the past that there is indeed a correlation.
Since you also like to bet, throw in you best guesses for next 6 months price wise. I have seen very pessimistic 1 cent opinions floating around
Ā”Cheers! @fullcoverbetting ...everything else is just practicing floating coin tricks.
50% is for the authors,47.5% is for the curators. The remaining 2.5% is for the hive funds if I am not mistaken.
If the authors does use the reward.app it comes as liquid hive and probably will be converted into L2 tokens.
Yeah, that's pretty much the thing. Although not so sure about that 2.5% for the hive funds.
So, in summary, it's 50% for the author and 50% for the curators. However, you should take into account that in the case of the authors that 50% amount is split in half: 25% in HBD and 25% in HP and the curators receive that 50% in HP only.
Not only into L2 tokens but in whatevah the heck they want. And as for the reward.app, that's exactly what I was referring to with "practicing floating coin tricks" in my previous comment.
So, again... Cheers!! }:)