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RE: Why has Steem crashed to as low as $1.05 ?
Steemit price is falling because the coin supply is expanding by a million coins every 2 days. It also has an extremely low daily trading volume. A coin of comparable market cap has an average volume 30 times that of STEEM.
Thanks for sharing that, makes sense.
The current reason for the drop is because of a market correction, due to Ethereum getting over the ICOs fever and network congestion, and of course Bitcoin BIP 148 activating on August 1st, which may cause Bitcoin to hard fork
https://steemit.com/bitcoin/@rainelemental/day-9-bitcoin-price-crash-explained-july-august