This is a bit crazy, Steem pumping when bitcoin isn't... This has to be one of the first times that it hasn't been following Bitcoins general trend. Now this could just be some Koreans pumping the coin but I don't think so, that's because the current volume is also at a huge spike. This is very important because it shows the demand for Steem is rising and that more people are starting to join this community, I believe it has to be new investors because the current ones already have so much Steem they don't need to buy more when they can accumulate loads at the current price it is at.
The reasons for the price rise could be due to the success of businesses that are being created on the Steemit blockchain and some companies are actually starting to accept Steem as payment for products. With companies using Steem it could cause a ripple affect within businesses as no businesses wants to lose out on a new thing or trend. The community itself is absolutely incredible and this could as be a huge attraction when businesses look at Steem. Plus Ned is talking again and seems to have a plan which could be causing this bullish run but I doubt it as his track record for delivering isn't great.
However I think the main reason is that people are beginning to see how undervalued this coin is, it hit $8 dollars at one point and although that was part of a bull run it has so much more on the blockchain now than it did then. It not being a dollar whereas some of these coins are doing nothing and worth more is a shame. Personally I can see Steem getting to $100 in a few years, i'd say maximum 5.
Why do you think its pumping?
STEEM is pumping because of you and me are with this wonderful Blockchain
Let’s keep pumping :)
Thank you so much sharing this content on Twitter and using #STEEM
No problem I'm hoping to promote Steem more and more and make people more aware!
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Wow, $100 for a Steem! Cheers to that!
Steem is pumping because of people like you, me, and the investors who believe in it. It will continue pumping as long as we rally behind it. 😊
Why not that is just above the current market cap of ripple and we are in a bear Market. As long as Steem has a community we will thrive!
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Yes, that is possible. 👍
As nathan said that its due to our combined efforts in pushing the steem forward. Moreover its due to korean community who are involved in steem .
We as a community can win togather .
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Exactly as a community we can push on all fronts and help us grow!
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I think the obvious reason is because Steem has become much more visible when people look at dapps. Just look how well Steem is doing, compared to the much higher market cap EOS and ETH. Hard to understand how its priced at such a discount to those two, especially when you consider how easy iy is to power up and start making more Steem
https://www.stateofthedapps.com/rankings
The chart does look much better but there's still a long way to go. I'd like to see much higher volume but maybe all the volume doesn't show on the chart?
We definitely dominate but more volume is needed, but it's getting there and these companies can start to expand and involve more and more into Steem.
Dapps will be important for the future
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Plant trees with @treeplanter and get paid for it!
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