We are in the midst of a mini altseason, at the very least
Over the last week most altcoins have significantly outperformed bitcoin, but hopefully that wasn't IT for our altseason...
Bitcoin gained roughly 1.3% over the last week, which is decent considering if bitcoin did that each week it would be equal to more than 60% in gains over the course of a year.
However, compared to most other coins, it was pretty poor performance...
In fact, there were several coins that outperformed bitcoin this past week by 20x and 30x.
Check it out:
(Source:
The above chart is a list of top performers over the last week.
As you can see there are several coins that returned more then 20% and 30% on the week with a couple even returning close to 50% on the week...
Hopefully this altseason is just starting out and not close to finishing...
In a week that saw many coins return double digits, STEEM barely struggled to see any gains at all, coming off already low levels.
That is not an encouraging sign for the time being as STEEM is lagging many of the other popular altcoins out there.
There is nothing more frustrating for an altcoin investor to invest in altcoins only to see an altseason finally show up only to find out his coins are not included.
I am not saying that is or will be the case with STEEM, but the early price action is not promising.
That being said, the majority of the coins doing well are "defi coins".
There has been a craze extending far beyond just this past week where investors have been bidding up the prices of defi coins.
Coins that offer returns more in line with traditional investments.
If this early altseason is any indication, not all coins will go up similar amounts this time around. It's possible that coins that offer the investor something in return are the ones that see the majority of love this time around.
As it relates to STEEM, investors can earn roughly 30% on their money by participating in the network, which is better than many defi coins, people just don't really know or understand that yet.
Perhaps it's time we educate them.
Stay informed my friends.
-Doc
You are right about the last part maybe steem 30% return could be a selling point. I noticed we have a new block explorer which hasn't been updated on Big exchanges like Binance and Huobi, Poloniex seems to be the only exchange quick to implement. New steem block explorer is https://steemdb.io/. Looks good. The explorer on exchanges is still https://steemd.com/, basically warning investors to stay away from steem.
We need a steem-pump, it's getting boring with almost 50d since last pump.
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Agreed. Is Justin going to make one happen?
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who knows, he hasn't said anything about steem since HF, not sure what his plans are for steem. Maybe he's in talk with coinbase to list steem lol.
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Lol that would be nice, but I highly doubt it. Any idea what the plans are going forward for steem? I haven't seen much...
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Part 2 of the dairy game is going to start 1st of August, according to steemitblog, the first part has exceeded their expectations and been successful and does look so. Steemitblog has an announcement to make in a couple of hours, seems they have a plan/news to announce.
Dlike also mentioned that SMT has been delayed in some ways, I sense the plan for steem is to build the community and move forward with SMT.
I watched some of TRX recent conference, I heard DLive will be working with steemit in some ways soon, not sure what that will be. I guess we will find out in from steemitblog in a couple of hours what the announcement or plan is.
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