STEEM Market Cap at New All Time High + Is TRON Credible Competition?

Today is a great day to be invested in STEEM, the price has now reached over $2.50 and the market cap has hit a new all time high at almost $620m. That's still a long way short of where it could and should be in my opinion, but we are moving in the right direction. With almost all investors now in profit STEEM sentiments are high, and hopefully this can act as a catalyst for more growth.

In other news the TRON coin has seen exceptional growth, with a market cap now almost 6X that of STEEM. For those who don't know about it, they aim "to construct a worldwide free content entertainment system". After reading more into it, it's clear that the platform will be similar to STEEM/Steemit in many ways right down to even having a "TRON Power" type system. The tokens are massively overvalued right now in my opinion, as it doesn't really appear to offer anything over STEEM in my opinion, with the exception of plans to integrate into the Peiwo social media platform which currently has over 10 million users. However, to date they still don't appear to have a working platform and are clearly a long way behind STEEM. Perhaps TRON will be the "Chinese STEEM"?

Whatever happens, some competition for STEEM may well be a good thing, and help to increase the rate of development.