The STEEM-Backed Dollars had hit its all time price momentarily on April 2nd, 2021. It is the stable coin on STEEM but it is now had gone parabolic in value detaching itself to a supposed 1 dollar value and now is hovering at a price of $9.51 at the time of this writing.
Personally I have no idea on why it is skyrocketing in price but we have to factor in that most of its traders comes from South Korea and cryptocurrency is at a premium price in Korea. Then of course we also know that a price of an item/thing/commodity or whatever rises in value if there is a big demand for it.
So in my own opinion SBD is just traded for a profit by many people and thus making the demand for it to rapidly gain in activity and thus the appreciation in price. If in 2017 it had reached the $15 price point when BTC is just trying to reach the 17K price, what more today when BTC would breakthrough the 60K per BTC level?
Nothing much to say about the price of SBD except that steem is just gaining popularity among the former users and the new people who want to either use steem platform in order to earn steem through the proof-of-brain (POB) method through blogging or just speculating on its price by trading on it or both. This just proves to show that STEEM and SBD will continue to grow as BTC also grows and it is a type of perfect storm for the steem platform and currency users to reap the rewards of their own work.
Wonderful for those of us who bet on this platform, and we are constantly creating content, praise God.
#onepercent #venezuela
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I listen to some tutorials from people trading and they say that the value of Steem and SBD will increase even more, I hope they are right, well while this motivates us to keep working.
Thank you very much, a hug
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I do believe that the SBD and STEEM prices would increase more in value.
I do not use any other social media as of now @lupega
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:)
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I couldn't agree more, @cryptopie. You make a very strong point.
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Imagine BTC at 100K+ @gungho @o@/
I reckon it will get noticed more and we'll see about that :D
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