It's almost 2 weeks since ETH first surge drastically and its been continuously laddering up the charts. These surges in prices seem unstoppable as these money coming are locked-up because of the Defi thing. It's incredible how a single app could literally change the direction to where the market goes.
Some time ago, Steem was on the 5th rank in the Market cap. The social aspect of Steem became a big hit. Because of Steem, crypto was introduced to the normies. It became the gateway of information and crypto became easier to grasp.
At this point, it seemed that the social aspect of Steem is no longer its major selling point. However, the tech of Steem is still competitive in terms of utility and functionality.
I believe Steem has the capacity to handle transactions similar to BTC or ETH. We need more developers to create apps that could facilitate apps similar to what a Defi could offer.