I've been mesmerised by charts this evening. The price of Steem just kept rising and rising.

The price has pretty much doubled in the past 24 hours, at time of writing.

The total value of all STEEM in existence has risen by the equivalent of $25 million. Source: Bittrex and CoinMarketCap

Why is this?

The amount of active users of the site is rising substantially. 829 users have joined in the past 2 days source. That's a growth rate of 5.5%

At the same time, there have been record numbers of posts, replies and edits - 8635 to be precise. source

Now what does this mean to you?

As the value of STEEM as a currency increases - we will gain more interest in the currency, more growth and even more users.

More users = more content = more value as a social network = more casual browsers = more users = more contributors = more attention. Therefore the value of our currency and network becomes even more valuable and becomes even more of a magnet for more people.

Also, the doubling of the value of STEEM means the reward pool for Steemit contributors has doubled in size. This makes the rewards stable for writers and curators, despite it's rapid growth.

Furthermore - if these growth numbers continue at lets say at 2% a day - the social network will have 1377x more members in a year's time. (1.02^365)*15900 - which equates to 22 million total users.

Here at Steemit we have momentum and a growth engine. We're interesting, motivated, arty, creative, smart people who are early adopters. The energy here is fantastic. And therefore the growth may be even faster than that.

So if you want to buy STEEM or Steem Power, I doubt it's going to be this cheap for very much longer.