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RE: STEEM finally over 20 cents!

in #steem5 years ago

Those projects that pumped have so little liquidity so I wouldn't look at it the same way as STEEM. I'd love us to hit around $0.30 so we have a solid SBD peg, once that's in place I will start trading on the internal market more often looking for arbitrage opportunities

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Yes! But STEEM doesn't have great liquidity unfortunately. Maybe when it pumps with 100+ BTC trading volume the liquidity is acceptable depending on who you ask but if you trade large position sizes on most days the books are super thin at best and sometimes the spread is also wide, forcing you to slowly build your position over a greater period of time. Even if you are trading a mere 10K-20K STEEM i've seen volumes as thin as 6-8btc/24 hrs making it hard to buy/sell at a very specific price. But all said and done it's still good for a multi-week swing trade if you sit and accumulate patiently, but not great for scalping unless it's pumping. I might be looking for some arbitrage opportunity just as you are down the road.

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