Steem Dollars (SBD) are trading at $12.28 USD!
I'm still trying to wrap my mind around this at the moment. I have some ideas, but am not quite sure. At the time of writing this article, SBD is trading up nearly 300% on Poloniex and the current price of SBD is $12.28.
By design, SBD was supposed to be averaging around $1 USD. Now, obviously that was the design and the actual market economy can change that. But what factors are playing into the overall demand for SBD over $1.
It'd be interesting to see some comparisons between the supply/demand economics of STEEM and SBD. Obviously the internal markets here play into the current price, as well as Polo and other exchanges now. However, I'm curious about the value of STEEM and the current cost of SBD. It seems there may be some equalization needed here.
Screenshot from the wallet page
Please share your thoughts!
[UPDATE]
It looks like coinmarketcap.com has the SBD/STEEM market added incorrectly, inflating the price. This could have certain traders thinking that SBD is well under valued possibly.
I heard it was trading at high amounts while I was asleep, but we're already nearly back to normal, 0.0018
I suppose it was someone screwing up, misunderstanding SD or even confusing them with Steem
https://steemit.com/steem/@jl777/sbd-at-0025-btc-how-is-this-making-any-sense-i-explain-what-happened-with-the-pricings-today
They're trading at .0018 btc at the moment on Poloniex, that's about $1.20. Highest I saw tonight was a little over 002 btc.
alright, thats definitely nice to know. It is like people are buying a 20 dollar amazon voucher for 23 dollars on ebay. This is stupid .
Though not related to this post, I have some questions about Steem Dollars... Can anyone help me telling me what you know? https://steemit.com/steemit/@ynotplay/question-how-do-you-transfer-steem-dollars-from-an-exchange-to-your-steem-account
Who knows what could happen there are so many strange human variables at play not purely the numbers, i don't think anyone really knows steemits potential yet, just optimistic speculation and hope, i see a lot of hope and faith here.
And i don't think it's misplaced.
Yes, but what are the market/economic factors that ensure or set SBD value at $1. Could it be possible that an arbitrage play on SBD could alter the market dynamics in a big way?
i hard that japan and south korea have now legalized cyptocurrency and that's why the steemboard dollars is at a very high deman.
This was before two years but recently also SBD went beyond $13 and fell down unexpectedly.