How does STEEM's price translate between exchanges and the SteemIt.com site?

in steem •  7 years ago 

I'm curious how the use of STEEM within the steeit.com site, which should theoretically be a proxy for supply/demand for the STEEM token, gets translated to exchanges, and vice-versa. How does the price action on all of the exchanges STEEM trades on get translated back to the Steemit.com site?

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

@ajack, I gave you an upvote on your post! Please give me a follow and I will give you a follow in return and possible future votes!

Thank you in advance!

Congratulations @ajack! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!