I Think I Just Found The Reason To The Big Move In Steem
In my earlier post I said that I didnt know why Steem was rising, but I think I now have found the answer. Have a look at this graph from @penguinpablo:
Comment: According to this graph someone powered up 863880 Steem yesterday and that is the biggest power up since late January when Steem was trading in the territory of 9 USD.
So, this is very encouraging, and in my opinion, this could be the momentum trigger we were looking for.
Happy Steeming!
Think about the effects of SMTs. Mithril which is "Attempting" to be a STEEM competitor is up 214.23% and it's an ERC-20 for god's sake. STEEM is just starting. Mithril is just hype. People will realize what's better. I'm so not powering down even if STEEM hits $30+
Yeah, but i havent seen any major news about the SMT´s, so Im expecting a lot of action once we hear a big player coming in.
I was not aware of Mithril, will check it out.
Just imagine that the market cap of Facebook is around 500 Billion USD, Steem could easily be worth 50 Billion (10%) of that) and that would give us a Steem price of $187. It might not happen this year, but markets always overreact, so who really knows...
I'm pretty sure about $30 for the year. Mithril is a STEEM ripoff (like YOYOW) but using ERC-20 and with focus on millennials. I've been following the project since the time you told me about Theta Token. I won't make any long term bets on it.
I hope for Hiveminds to come first. That will drive prices up like crazy and then a correction and then SMTs. What I found to be interesting was that they are working on what seems like HF21 along with SMTs and HF20
https://github.com/steemit/steem/projects/4
You can have an idea about SMT development here: https://github.com/steemit/steem/projects/5
It's not too comprehensive. But it's something and there is actual work being done.
Guess someone with deep pockets is buying in big on steem.
most likely, perhaps some future SMT
Could be, the fact that they power up means they are in for the long run.
Or a whale who cached out partly when the steem price was high in januari and is buying back in now it's low.