If you look at the daily volume on Coinmarketcap for STEEM it is $1,689,202 USD ; so 300K USD of SBD converting to steem and hitting the market has a massive effect on price. You can always pick and choose coins that are falling just as fast as STEEM but the reality is that we would be holding significantly stronger if we did not have a flood of STEEM coming on the market from SBD conversion; this is exactly how the SBD mechanism is designed to work (push STEEM supply up though burning SBD while reducing SBD supply in order to maintain a stable SBD price). We just have a lot more SBD floating around now then the white paper ever envisioned.