The wild ride for new cryptocoin SmartCash continues after the October 28 SmartRewards payout date. This new community is gaining traction despite not yet being listed on major exchanges.
My sense is that much of the monthly payout is being redeemed by holders perhaps as a diversification strategy and also source of revenue for living expenses.
The previous payout period (September 25) also was followed by a sharp selloff, only to eventually shoot back up to record highs as word spread about this new coin on the block. Based on the coinmarketcap.com chart below, it seems a similar pattern may be emerging. There is much larger volume over last month's period, but the price seems to have stabilized / found support around 0.09 USD per SMART.
We shall see what the next couple of weeks bring, but I am speculating that November 15-25 period will be another record setting time.
The fact that this value is increasing will only serve to attract even more talents to it's SmartHives, and no doubt will accelerate the pace of innovation.
Stay tuned!
Thanks for the analysis. Realized there're so much to learn!
Congratulations @luup! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP