Great news! Steem and SBD have finally had a bounce back after sliding for most of the year. At the time of me writing this (just before 8pm Australian time) Steem was up 35% and SBD was up 67%
BUT WHY????
Well, no one seems quite sure exactly why, but we do know where. The Upbit exchange in Korea has been accounting for a large percentage of the trading volume.
I would be curious to know if any Korean friends have an insight on what is driving the demand there. This is the highest trading volume since early February.
I've noticed the SBD/KRW pair on Upbit is often the highest price and high volume - though it's not usually enough to cause this.
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Nothing special.
I think it is because SBD is the easiest of major altcoins for big investors to pump in terms of market capitalizaion.
SBD is very vulnerable to price manipulation. They just used it.
Anyway welcome to Kr-tag. :)
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Keep us posted with any further enlightenment! Cheers :)
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I'm sure but some internet news sites are saying it was kind of pumping.
Is the word "pumping" common cryptocurrency jargon?
Anyway they are saying someones are using STEEM to manipulate cryptocurrency price.
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Maybe one thing amongst others, is the continued share price decline in face ache :)
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Lyndon (at datascience) from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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Your post has been voted randomly by @autovoters :)
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Someone's sitting in the shade today because someone planted a tree a long time ago.
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Korea's massive buy. Some steemians say Steem has to go to $1, the others say it will go sky high :) No one really knows what will happen tomorrow...
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