Why are people selling steem on the internal market?

in #steemitlast year

The selling of STEEM on the internal market only yields SBD. Why not just transfer the STEEM straight to an exchange and sell for BTC?

Is it because people think the price of STEEM will continue to fall and rather hold SBD?

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Good question... How do you know what people are doing? Aka where do you see this kinda statistics?

Go to wallet, then go to market. I usually just click on any of the numbers on the my wallet (steem or sbd) and the market menu will pop up. From there you can see everything on the internal market place. Still not sure who is buying sbd. I thought you could only burn sbd for steem.

I think that SBD has a pseudo-stablecoin attraction to it. People hedge in it when the market dips. Quicker, cheaper and easier than sending funds to a proper exchange I guess.

Coin Marketplace

STEEM 0.17
TRX 0.03
JST 0.040
BTC 10736.72
ETH 352.79
USDT 1.00
SBD 0.95