What has happened to the SBD in the last 24 hours?
Hello Steemians,
In the last few hours, most of the steemians might have asked themselves a question. What has happened to the SBD?
You can see in the above image that the whole crypto market is down, but the SBD is not waiting for any other crypto and is going to reach its all-time high record soon.
Now, you might be wondering that SBD is only traded on the Steem Internal market then how did it happen, right?
You are partially not right. Because
SBD is also traded and exchanged on a few other trading platforms too. And I guess that is the main reason behind the recent surge in the prices of SBD.
You can see that Upbit is the exchange that has more than 1.5 Billion in Volumes in the past 24 hours only. Which for me is the main reason behind this surge.
We should also see that the pair offered in the above image is SBD/Korean Won. Maybe Koreans had their investments in bitcoin and other altcoins, but now due to the market going down, they might have invested in the SBD and Steem, because it is very easy for a whale to make or break a market that has a very low market capital, SBD in this case.
SBD has increased by approximately 80% in the past 24 hours while other crypto coins have taken a dip of approximately 15% to 25%.
Thanks for reading