Wild ride in Graphene land
It's been a phenomenal couple of days for holders of STEEM and Bitshares, with BTS just hitting all-time-highs just months after its all-time-low, and Steem rocketing past $1 for the first time since its wild pump last summer. What is all the fuss about?
In my pessimistic view, it seems likely enough that Steem and BTS were simply two of the cryptotokens that hadn't been pumped yet in the past few months' crypto bull market. Steem has always been highly susceptible to massive run-ups in price because so much Steem is typically locked away as Steem Power.
It feels like traders just cycle through coins and take them on a rocket trip. It's a small subset that sustains the gains over a longer period.