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RE: Daily Steem Price Update 25/1/2018
New guy here. I thought SBD was supposed to be pinned to the dollar or thereabout, why is it worth around $7 currently?
New guy here. I thought SBD was supposed to be pinned to the dollar or thereabout, why is it worth around $7 currently?
Simply put, demand. Other USD-backed currencies (Tether and the USD itself) kind of suck.
Ahh I've just noticed that SBD is traded in a market for Steem rather than that rate being pinned to reflect the dollar. Thanks.
Yes its suppose to be you are correct which is why it tries to go back to $1 but people in Korea keep buying SBD like crazy and we cant figure out why yet so until they keep buying it will hopefully stay above $1 it works like its its own coin your welcome @jakedavison dont forget to upvote