STEEM had a great day, we need exchanges for STEEM.
Today STEEM touched $1.28, currently hovering around $1.1 to $1.2.
Though it is ranked 34 by market, by daily volume it ranked below 60. Some may say, most STEEM is locked to SP. In that case, it's price should rise sharply due to low supply.
However, my assumption is that since STEEM is only traded on top 3 out of top 10, demand from the traders/investors is supplanted by the supply of STEEM sellers.
Therefore, STEEM needs to be added into exchanges such as Bitfinex, Bithumb, Gdax, Binance, Coincore, Korbit, Bitstamp, Kraken etc. For starter, all of them have LTC, XRP, ETH other than BTC. Zcash, DASH, IOTA are listed on more exchanges than STEEM.
Some may argue that STEEM is fundamentally better than other coins but if investors/traders do not know or care, until it is in the TOP exchanges. Best way to publicize a coin is to list it an exchange.
BTS has sharp rise recently, once it is included in Binance. Even STEEM saw a spike when it was added into Korean Upbit exchange.
The issue is that some exchanges demand some compensation and tech support from the developers or foundation (e.g. Binance) to add a coin to the exchange. It is mostly a win-win game.
If developers at Steemit Inc. think that if STEEM gets more popular, it will be added to an exchange not necessarily the case always. It could be other way around, if a coin is added to say, Bitfinex, Bithumb etc. its demand rises sharply. Therefore, some coin developers and foundations actively pursue to add their coin to exchange aggressively.
What do think we can do to add STEEM in top exchanges?
What's even stranger is that SBD is going up!! It's at $1.66 on Bittrex... and everywhere else for that matter. Check it out
That is strange too. However, it recently went up $3.82 in one exchange (I guess it is Korean upbit.com), traders may not aware of its pegging to 1 USD and played with its low circulation.
I don't know... But I sold my SBD. 66% profit is too good to pass up!
If it goes down, I'll buy it back. If not, well ,then all my SBD will forever be worth more which is fine too
I was intrigued by recent surge of SBD too and did some research. Yes, it is good time to sell SBD and buy a load when it trades below 1 USD if one has some extra money (also, very safe trade).
Thanks for those links.. wow. Too bad I didn't catch this when it was up at $3!
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