STEEM APR
Now, I did some digging into another indirect reason for STEEM dropping despite major coins going up.
The obvious one, some selling a lot is probably the bigger part of the explanation.
Here is one evidence of that, I went to Binance and checked the daily APR value.
In "normal" days, it is around 3% that's about the same APR one gets for their SP without doing anything, no activities.
The Simple Earn value Binance shows today, is the massive 34% !!! This is an unquestionable indicator that liquid STEEM is in high demand on the platform. In terms that means more selling than holding or buying.
Here is a screenshot I took from my account:
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That is high. Typo?
It was a real deal yesterday, everyday's a different value, I saw 11% a couple of hours ago. Still high though. I posted a screenshot as I knew someone will question it
This doesn't surprise me, it's always been like this soon as the price goes up a bit with Steem, remember at one point Steem hit $8, with the price of bitcoin these days Steem should be much higher now, but see there are too many earning big votes here who just continue to power it down. For us to retain and increase Steems value we need to vote more on users who are buying or keeping their Steem. I have personally been doing this for a few years and the support for this isn't exactly the highest it could be which sometimes I do find a little odd.
0.00 SBD,
1.49 STEEM,
1.49 SP
True and true. I don't believe we will ever see STEEM go that high again, unless the coin has more use cases and new famous people and investors are attracted. The infinite minting doesn't help either but that is by design. Attracting new investors will need huge efforts from the Inc. too. New dapps, new interface, etc.
0.00 SBD,
0.01 STEEM,
0.01 SP