Lots Of Whale Attention On Steem
I took this a couple days ago
Steem was pumping once again, so I had a look at how we were faring on coin market cap.As you may imagine, it was to my utmost shock when I couldn't find steem at #31 for market cap. I was thinking something along the lines of "fuck we've dropped off the chart!"
But that was just me being a paranoid pessimist. Eventually, I thought about scrolling up; Just as I was about to give up and declare steem dead, I got to #25. That's a jump in 6 places for market cap in a matter of minutes...
And this isn't the first time I've seen whale action happening to STEEM, it's been happening almost daily for the last week now!
I don't think we're going to see the whale attention stop, STEEM's Weiss rating of B places it leagues above all other crypto assests apart from maybe eight others (Note: the ratings come from a purely investment point of view and do not favour some factors such as decentralization).
The point above matters because cryptocurrency has not yet been institutionalised according to this cnn article about the billionaire and retired hedge-fund manager, Mike Novogratz. The cryptocurrency total market cap is still relativity small compared to other markets. For example, Apple has an $800 Billion market cap, that's double crypto's $400 Billion, and Apple is just one company, crypto is an entire market!
My whole point here is this: While every other top crypto was falling (some by double digits), in this case, our favorite one shot up by nearly a fifth, which probably indicates some movement of money from other crypto's, to steem. Coupled with the fact that the big, institutional money is only just starting to move in to crypto, we can expect great things in the next half a year.
https://ycharts.com/companies/AAPL/market_cap
https://coinmarketcap.com/
https://www.ccn.com/billionaire-bull-novogratz-big-money-is-coming-to-bitcoin-real-soon/
https://pixabay.com/en/blue-whale-animal-water-nature-3158626/
Hopefully this will be the start of a new bull run. If it really takes off, I'm really curious to see what will happen.
I can see it happening, all the FUD is out of the window now and the big players will be swooping in while the takings are cheap.
Thanks for the update!
No bother, glad you enjoyed!
Also, well done winning court jester - your Dave Chappelle fanfic had me cracked up!
Thanks, I appreciate it! Hoping to do more pieces like that in the future.