I just read one of @penguinpablo's analysis posts, and for the last week or so the amount of sbd traded for steem (on the internal market, I assume) was WAY down. This answers my question from a week ago about how amazed I was that I was able to get 6 steem for each SBD on the internal market. I couldn't believe that the price of steem wasn't going up. Clearly people have been either holding sbd or perhaps buying other coins with it. I hope they keep doing it, because I'm looking forward to powering up with some coming payouts.
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"Clearly people have been either holding sbd or perhaps buying other coins with it."
Yep, this is what is happening. People are holding it and/or buying more of it than they are selling, which is what continues to keep the price high.