The cryptocurrency Steem (STEEM) has seen a 60% increase in volume. Who motivates this rally?

The past 24 hours' trading volume in STEEM crypto was US$1.13 billion, up 6,317 percent, as according CoinMarketCap.
This volume is 4.78 times the current marketcap of STEEM crypto, which is US$237 millions.
Steemit, based on the Steem blockchain, is Steem's primary social media site.
On Friday, the underlying chain for social media network Steemit, Steem (STEEM) crypto, a community-focused blockchain, saw a significant increase (22 April). STEEM was selling at US$0.5976 per token at the time of writing, up 53 % from its price on Wednesday. This token's trading volume has skyrocketed. The token's trading volume in the last 24 hours was US$1.13 billion, up 6,317 percent, according to CoinMarketCap. The current market capitalization of US$237 million is 4.78 twice this volume. So, what's the reason behind STEEM's massive volume increase?
Why is ZRX crypto rising by over 50% with tremendous volume?
The unexpected increase in STEEM can be related to the Binance exchange's statement.
How far can STEEM rise?
Despite today's rise, STEEM is still 93% below its all-time high of US$8.57 set on January 3, 2018. As according CoinMarketcap, the cryptocurrency reached a high of US$0.6224 in the previous 24 hours. With today's price increase, STEEM crypto has broken throughout its resistive trendline, prompting technical specialists to forecast that this cryptocurrency could soon reach levels of US$72-US$75. However, because the Current Strength Index (RSI) is above 80, this cryptocurrency is currently severely overvalued. For the uninformed, RSI is a momentum indicator that determines whether a market is overbought or depressed. A stock or cryptocurrency with an RSI above 70 is overbought and likely to correct soon.
What is Steem?
Steem is a new sort of platform that combines social networking with cryptocurrency to empower anyone to create, share, and upvote/downvote content. Users can earn bitcoin tokens based on their performance/posts on the Steem network.

Steemit, based on the Steemit blockchain, is Steem's major social networking site. It works in a similar way to Reddit and Medium, two major evidenced social media networks. The only distinction is that it compensates consumers for their involvement in cryptocurrencies.

How does it work?
The amount of money a person receives for their post on the Steemit platform is determined by the value that the content provides to the community. This is selected through user voting, which results in the construction of a content hierarchy. The more upvotes a post receives, the better.