Steem needs a spark of life from somewhere, anywhere....Trading volume on life support
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I haven't seen volumes so depress in a long time, both Steem and SBD are going into a coma with Steem experiencing a volume of 2 million, 2/3 of which trades on Bithumb exchange, a market where deposits and withdrawals are still disabled. Steem dollars (SBD) is on life-support with a trading volume of hundred &f forty (140) thousand, 2/3 of which are on Upbit exchange. On the bright side, the selling pressure has cool off and the charts are looking better but that can be short lived as any price rise could be greeted with heavy sellers. We need a spark from somewhere, I notice the tensions are building on discord and Telegram as to the potential problems that needs to be address from marketing of the platform to distribution of rewards. Steem the concept sells itself but the appeal to investors/ traders isn't showing up.
We need a spark from somewhere to kickstart the buzz, some good news, some big partnership or excitement from somewhere. Could it be SBD? Could it be temporary pause of the bear whale selling Steem? I miss the traders from Upbit, could they be back soon? Something needs to happen. I don't think there needs to be to much changes to protocol, the blockchain works well, probably dedicated curators with enough Steem power to make a difference. Where can that spark come from?????
It must come from people with very high SP who only do self-voting or vote-selling (whereby mostly trash posts are hyped). Please tell them, that they - on the long run - cut off the branch on which they are sitting.
Nah, the problem is a lack of innovation inherently. Listen we are still in Beta, with the utility of Steem not being fully utilized. Let us look at the SMT that is 6-7 months late. Without these and other changes, the value of Steem will increase, but not like it would otherwise. As a whale, I have friends that know for a fact they will get big upvotes, yet still they do not post more than once or twice every 2 months.
Even strangers I get on-board, will post a few times, with big full upvotes, and yet still they just stop. Then you look and see them posting consistently on Facebook. I have brought in over 60 people to this platform, and yet of these only two post daily. Checkout @grapthar and @kendama-odyssey.
I agree with you..... for my time being here, price influences activity and I think the late SMT did not help the situation as well, we had some flagging here and there with the Asian community and followed up by SMT next year probably did not go well but hopefully we can see some turn around... I think we need to give SBD a look, it probably the platform best chance of sparking enthusiasm, it should be better quoted as a floor of 1USD with upside potential, given Steem supply from what I have seen, any rise in price is greeted with heavy sellers, last week we had good volumes over 247 BTC on the Steem market but that did not do much for prices, we also have someone who is putting in quite a few 1000 and 4000 Steem sell walls, it takes time to break that down, given that Bithumb is lock out and Upbit volume is gone it would take some time. Binance I thought would have been a game changer but its volumes has been a disappointment... We have to flex things, see if a higher SBD spark something, it did extremely well turning things around during last year slump.... Thanks for your support, appreciate it