SBD Pumping Continues: $2.36 On A Volume Of More Than $5 Millions In The Last 24 Hours - STEEM At $1.22
During the last 24 hours, SBD, as a currency, traded on a volume of more than $5 millions, which is something highly unusual.
Especially if you look at the volume of STEEM, which was around $4 millions:
Bittrex 1 hour char shows a constant increase in buying volume (green candlesticks) at recurring intervals:
I have no doubt now that this is coordinated.
Other than the scenarios described in my previous post about this YASP (Yet Another SBD Pumping) I have nothing new, although I tend more and more to think that the SMT related scenario is the one behind this. In other words, somebody thinks / hopes / knows that SMTs will be a huge success and it gets a strong hold of some STEEM, at a discount, before the price goes up.
A couple of weeks ago, a very important news which went almost unnoticed, announced the first private investment in future startups using the SMT technology. Total amount was $20 millions, and a part of it was bound to be injected as STEEM. Nobody knows how much, but let's assume it was half. One way to get $10 millions worth of STEEM could be to use an expensive SBD as a proxy, in order to get it cheaper. Correlating the volumes of STEEM and SBD traded during the recent pumps, we can also assume that half of this amount ($5 millions) is already transferred. So if this is true (which probably it isn't) the SBD pump will probably last another $4-5 millions and then it will come back to the peg.
At which point STEEM could start its journey to the Moon.
Disclaimer: it is a well known fact in the Steemit community that, when it's weekend and I didn't have my coffee yet, I tend to write all sorts of stupid speculations. So take this with a lot of salt.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
i like your "stupid" speculations coz i belive there are many people who are trying to take advantage of crypto world and if u have a lot of money you can move it around and pum up the price easily
Yeah! I am taking it with a lot of salts😂. But then, I will buy more steem with my SBD!
I may be wrong, but my gut feelings tell me the steem ecosystem has a bright future and it is today a promising investment.
Have to agree that its a coordinated pump but I'm happy that I'm able to get some cheap steem through the internal market.
As far as i can understand SBD is peg to US dollar, then why is it increasing?Even if there is pump it should automatically adjust to US Dollar.
if it's in a controlled environment, like the one supervised by witnesses, yes. Once out in the wild it's supply and demand.
Then SBD should not allowed to be traded on exchanges.
@dragosroua I like your Thinking on this matter.
nice info. keep sharing cool stuff. your graphical representation is just awesome @dragosroua It's good that SBD is progressing. keep sharing. Resteemed & Upvoted
I don't care for salty coffee.
2.51$ right now
Love me a good conspiracy theory ;P Especially when its related to crypto's haha. SMTs don't come till february or march aren't they? Or can people already use the application before that, to integrate their platform?
February or March are just around the corner, IMHO...