- My SETX token index is following surprisingly close the Steem price as if it were moved by an invisible hand.
- Steem price fall has stopped in the last 48 hours, for now.
- But the movement of each coin is very different. Losers and winners.
In the last days, Steem price fell further, to new yearly lows. But in the last 48 hours, this fall stopped, the value increased a very little bit measured in USD. If that was the bottom or not, nobody knows. Many people are talking about the great buying opportunity, but the market says they are not really buying.
Or, at least the same selling pressure remains on the market. I suppose the uncertainties around Hard Fork 21 also can delay investments actually.
The invisible hand
I'm just groping in the dark, guessing, but based on the numbers, at least the fall has stopped. The data I’m collecting of the Steem-Engine Tokens page show a slight over-performance of the Steem-Engine Token Index (SETX) above the Steem price. The tokens fell some less than Steem in total. (See the first two charts.) Although, the difference is relatively small.
The token index is following surprisingly closely the Steem price as if it were moved by an invisible hand. But the individual, respective tokens are moving very differently. Some of them have increased their value from 7th of July, some fell but overperformed Steem. Some underperformed in this period. (See the 3rd, bar chart.)
Some tokens like RHB or AFIT declined sharply at the beginning and were relatively stable after that. I suppose the initial price was wrong somehow, and later market priced in the tokens better after a couple of days.
That’s all for today. I hope I can bring you some nice charts tomorrow, too.
If you want to message me in private you can find me in various popular Discord channels (Palnet, Steemleo, Steempeak, Neoxian, etc.)
Series Steem-Engine tokens reports
7. Are Tokens Underperforming? Introducing The SETX Index
6. Losses, Losses, And More Losses
5. How To Be Rich, Quickly!
4. A Costly Hobby For Rich People?
3. Which Was The Most Traded Coin?
2. Which Token Fell 80 Percent In A Single Day?
1. Do You Still Believe In Your Tokens?
About the data:
I’m collecting all token prices from July the 7th on, once a day, approximately at 4-5 p. m. UTC (Coordinated Universal Time). I’m not a robot or developer and I’m not always online, so some delays can happen. The data is so more estimation than an exact recording. Data on July 9 and 15 are completely missing. If somebody knows how to regain this information more precisely from the blockchain please message me.)