The SBD at Upbit is soaring!
However at HTX, the SBD is less than $2.
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My guess would be that the prices at Upbit are the result of manipulation rather than genunine economic activity (and likely have been for a while). SBD has a small market cap and doesn't have a lot of presence on other exchanges so it's probably easier to manipulate than many coins.
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I was wondering - if the upbit resumes what would happen..
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.. and just as interesting: why does SBD pump to anything over US$1... EVER? The whole point of SBD is that it's only worth US$1 worth of STEEM... so buying SBD at $8 on UpBit and then trading it for STEEM will realise a loss.
The only thing I can think of is market manipulation... but then For What Reason?... How do those manipulating the price benefit?
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Hmm... almost (99%) all SBDs are locked in Upbit..
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Yeah, I can see that... but what could the possible benefit be to pump the price of SBD on UpBit (or any exchange)... the buyer is never going to get his (US$) worth back when he wants to sell (unless he sells to someone else that also wants to buy overpriced SBD)... it just doesn't make any sense? hmmmmmmmm
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Yes, the market is just crazy....
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