Here's a follow up from my previous post on STEEM-to-SBD relationship.
It appears the table has turned, and STEEM has surged a fair amount over the past few days compared to SBD. So as it stands, STEEM is now more expensive than SBD! Here's a table comparison on prices since my previous post:
| Apr 4, 2018 | Apr 13, 2018 | Difference | |
|---|---|---|---|
| STEEM | $1.92 | $2.70 | +40.6% |
| SBD | $2.57 | $2.42 | -5.8% |
Here is the updated chart on the STEEM-to-SBD relationship, truncated to reflect only the last 6 months:
As I mentioned, STEEM is more expensive than SBD anytime the line is below 1.00 (see the red line on the chart). This has certainly come few and far between in the past 6 months. However, we are in one of those rare instance now.
That last time we had a long streak was from June 6, 2017 - Oct 24, 2018 (see previous post ). How long will this last this time around?
I'm unsure what has caused the surge in STEEM. If someone has some knowledge on this, do share in the comments section below.
Thanks and have a great weekend ahead!
You got a 71.43% upvote from @minnowfairy!
I think the market in general is trying to find a bottom in prices and once found, the assets with best value relative to their networks and uses will be more in demand. Regarding the difference with SBD, it could be that Steem is more availablenon exchanges than Steeem so more external volumes are influencing Steem more than SBD.
Thanks for sharing. There sure is a lot of demand lately on Steem. I'm still puzzled on the past few days's move though, because for like 75% of the time in the past, SBD has been the one surging. So I wonder if there is more than meets the eye on this move on Steem.
By the way, both Steem and SBD should be available on exchanges.
Thanks information about STEEM
You're welcome! Hope it was helpful.