Does internal market affect steem prices too much ??
Been watching steem prices on the low side from quite a long time now may be this is the first time actually steem has been down so much for a long time and it struggling to even surpass a dollar sometimes
and comparing the prices on exchanges like bittrex or poloniex to the internal market which is present on steemit
their seems to be a huge difference always
don't have much resources available at the moment right now but would like to know on this one specially
pic source
Don’t worry, just Steem on for low price
hehe steem on :D
i know there are difference. just thought should not be much different or people will arbitrage it away
this was wondering inside my head why so much difference
is worth to sell and buy back between markets? :-)
There is not enough volume on the internal market to move the price On average it only does 7-10k. The open market does 500k- 1 million a day.
The internal market is set so that an SBD is pegged at a $1 value. The Steem price adjusts to that peg in correlation with the open market.
Example: SBD is trading at .98 cents and Steem at .93 cents then the price for Steem on the internal market will be .95 cents.
wow the finest explanation i got thanks you so much @lydon.sipe for this : )
You r right mam I also do concern about it
i guess it will be up with time :)
Okkkk thanks may it will
Thanks for your response over my post .
I have not made much comparison about the prices of steem on the exchanges and the internal market anyway. But i do check @me-tarzan post on the prices of steem to get updated. I hope we can someday drive the higher from the internal market.
Yeah @me-tarzan is one of the most consistent steemians and he post great content always :)