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RE: STEEM and the $1.00 USD Psychological Level
Nothing has happened in terms of SMT adoption at the moment, but markets also like to look forward and price that future possibility in. I can't see why it should have dropped back down to these levels when the potential that has been opened up and will eventually come, is there. Should have a new floor a lot higher than $1.00 in my opinion.
I don't think the valuation should change until steem announces some partners that will be creating coins with the SMTs. Yes the possibility is there, but if no one adopts/uses it then it's just an idea.