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The fact that steemit has been the least developed UI for a while now and there was no expectations of its improvement could have played.a role here, but the price stabilization mechanism that stopped the SBD printing press and the reticence of many holders to sell at such a low price should certainly play a role as well.

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Yeah. Good point. Also what is indicative here, when you have cryptocurrency market drop in mind, looks like there is not much speculative money in STEEM. Otherwise there would be a large price drop after ned's announcement.