STEEM & SBD Catching the Wave with the Rest of the Market! Interesting Stats Here!
The market is battling to stay above $280 billion over the last 24 hours led by Bitcoin getting past the $6,800 resistance. However, it has not been able to stay there so the market is closely looking at where it goes from here.
As usual, STEEM & SBD are moving in the same direction with some more strength. Interestingly, SBD catching more of a bid than STEEM:
Could a potential run towards parity be coming?
I am not so sure though given some interesting things going on the exchanges. We all know that HitBTC has had some issues with SBD in that the price is currently multiples of the reality given the limited volume there. CoinMarketCap has excluded those numbers to avoid not adequately reporting a good average. However, have you seen what is going on at Bithumb with #STEEM?
Despite having more than 50% of the total STEEM volume, CoinMarketCap is not including the higher price in their calculation. It does seem like an outlier but with more than 50% of total volume, there may be something happening that is causing this demand. Bithumb is a large exchange (would be 3/4 in last 24 hours but CMC also excluding due to free trades) in Korea and was one of the last to list #STEEM. It would be interesting to know what is going on here.
What are you thoughts on these movements? Does #STEEM have what it takes to move away from depending on Bitcoin for moves? I look forward to your thoughts in the comments below!
source of images and data: https://coinmarketcap.com/
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I hope SBD gets back to par or above STEEM so we can use it to buy STEEM. Given it is the easier currency to earn here, it would help new users power up for influence.
This is a hopefuly development. I am holding my STEEM and I might use this opportunity to convert some of my SBD into more STEEM.
We might not see this prices ever again.
Now's the time to scoop some up!
Wanted to give a quick update!
As I was scanning the markets this evening I was wondering why the SBD/STEEM gap was not similar to what was being seen on the #Steemit Internal market which still has it around 1.25 SBD/STEEM. I found that the STEEM/ETH on BitBTC is also an outlier on that exchange:
However, unlike the STEEM/BTC pair, CoinMarketCap is not excluding it from its calculation. Hope this helps!