Those of you who also follow other crypto currencies -besides steem - must have seen it already.

STEEM went up 10% while others all went down further. Only XRP went up comparably.

As a result steem also climbed two steps on the marketcap ladder.

Is that market cap position important ?

In my opinion YES. Not for steem or steemit itself but for the price it can make a large difference.

Once so called crypto ETF's are allowed (i.e. regulated) in the USA these ETF's (Exchange Traded Funds) will contain crypto currencies. Institutional investors like pensionfunds can then put some of their investments in crypto.
When fresh money flows to crypto (as investment) the price goes up fast. Just follow the ETF discussions in the USA.

There will be a range of ETF's like large cap (BTC/ETH etc in short the top 10-20) ; small cap (21-50 or alike) and perhaps ETF with most potential cryptos (manager picks). So it is best to sit in the top to make the chance of ending up in a ETF large.

Or ....be the most potential crypto and we all know which one that is...….

" That is STEEM!"