During the last 24 hours, SBD, as a currency, traded on a volume of more than $5 millions, which is something highly unusual.
Especially if you look at the volume of STEEM, which was around $4 millions:
Bittrex 1 hour char shows a constant increase in buying volume (green candlesticks) at recurring intervals:
I have no doubt now that this is coordinated.
Other than the scenarios described in my previous post about this YASP (Yet Another SBD Pumping) I have nothing new, although I tend more and more to think that the SMT related scenario is the one behind this. In other words, somebody thinks / hopes / knows that SMTs will be a huge success and it gets a strong hold of some STEEM, at a discount, before the price goes up.
A couple of weeks ago, a very important news which went almost unnoticed, announced the first private investment in future startups using the SMT technology. Total amount was $20 millions, and a part of it was bound to be injected as STEEM. Nobody knows how much, but let's assume it was half. One way to get $10 millions worth of STEEM could be to use an expensive SBD as a proxy, in order to get it cheaper. Correlating the volumes of STEEM and SBD traded during the recent pumps, we can also assume that half of this amount ($5 millions) is already transferred. So if this is true (which probably it isn't) the SBD pump will probably last another $4-5 millions and then it will come back to the peg.
At which point STEEM could start its journey to the Moon.
Disclaimer: it is a well known fact in the Steemit community that, when it's weekend and I didn't have my coffee yet, I tend to write all sorts of stupid speculations. So take this with a lot of salt.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
i like your "stupid" speculations coz i belive there are many people who are trying to take advantage of crypto world and if u have a lot of money you can move it around and pum up the price easily
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Yeah! I am taking it with a lot of salts😂. But then, I will buy more steem with my SBD!
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I may be wrong, but my gut feelings tell me the steem ecosystem has a bright future and it is today a promising investment.
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Have to agree that its a coordinated pump but I'm happy that I'm able to get some cheap steem through the internal market.
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As far as i can understand SBD is peg to US dollar, then why is it increasing?Even if there is pump it should automatically adjust to US Dollar.
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if it's in a controlled environment, like the one supervised by witnesses, yes. Once out in the wild it's supply and demand.
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Then SBD should not allowed to be traded on exchanges.
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@dragosroua I like your Thinking on this matter.
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nice info. keep sharing cool stuff. your graphical representation is just awesome @dragosroua It's good that SBD is progressing. keep sharing. Resteemed & Upvoted
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I don't care for salty coffee.
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2.51$ right now
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Interesting stuff. I'll just take advantage of this to convert sbd to more steem. Next year things could really take off.
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I am seeing a good year for sbd and steem next year. maybe it will reach $10 soon. Steemit population is soaring so it is possible to happen. actually I am believe steem and sbd will be $25 before 2018 ends.
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Mixing hopes and beliefs is one hell of a way towards financial failure - I'm telling as a one who did this constantly. What I mean is that hoping STEEM would be $10 is one thing, and believing it will be $10 is a completely different one.
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Indeed. I hope Steem will go up to $10+, but I know (believe with 100% certainty) EOS will be worth 100's of dollars, to eventually 1000's of dollars ^.^
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yeah you are right, I am just being positive about that.. but no matters what happens steemit will surely stay and I am gonna hold some steem and sbd once I got lots of them. we are mining steem and sbd so why worry about financial failure if we haven't invested money. the good term will be "waste of time" if steemit fails. ^^
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You know, if Steem did hit $10, there'd be many of us who could actually plan to work on our blogs full time and earn a real living from this. That would be lovely. Imagine how much the quality of our content would improve if we didn't need to work in jobs or businesses outside of our time on Steemit.
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how I wish it really happens haha.. that would be great. I am looking forward to that 😁
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This is really interesting. I'm so poor at keeping an eye on the price of Steem and SBD. And transferred the bulk of my Steem to other currencies just last week. :(
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If this is true, I need to convert every bit of btc I can get my hands on to steem right away haha. I wonder how long this pump will really last. No sign of slowing just yet
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Wow! I would have bought steem, but Unfortunately i don't have SBD or cash to buy steem.
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Love me a good conspiracy theory ;P Especially when its related to crypto's haha. SMTs don't come till february or march aren't they? Or can people already use the application before that, to integrate their platform?
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February or March are just around the corner, IMHO...
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Meanwhile - steem is around 50 cents in the internal market right now. I don't understand, but I bought a tiny bit since I use it to lease delegated sp.
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Oh, that's 50 cents in steem backed dollars. It's only .50 SBD since an 1 sbd is worth around 2 USD or more while Steem is more or less 1 USD. So, you're to buy 2 Steem at the cost of 1 SBD since SBDs are worth twice as much in fiat USD.
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I'm confused beyond belief! I'm assuming this is a good time to buy in the market anyway (I hope).
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Oh noes, anyway I tried to explain. It's a good time thought to stock up on Steem while the price is still low in comparison to Steem backed dollars. :)
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Ok I'm so far behind! Hopefully I am doing the right thing - sort of chasing the price down. My last buy in the market was at .27100. I'm just putting a lower order each time I get some. I guess this is just unheard of for the sbd to go so high.
I joined this place to be blogging and getting the word out about my health and weight loss work. Steemit is my first glimpse of crypto. I feel distracted - but optimistic!
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That's an interesting theory. I think it's probably easier to manipulate the market of SBD vs. STEEM. I think we're all enjoying the pump since we can either pickup more steem for a cheaper price or cashout ar higher prices.
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thanks alot for sharing these info with us.actually we get to know alot of things that we are not aware of.thanks alot..like the way how you think and analyse things :) keep up your good work
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need to buy some more steem..thanks ..very good invetment info..
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This is NOT investment info! This is speculation, just read the disclaimer, please :)
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okk..its rising that why i said..
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continuously maintaining that its miracle
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I totally agree with your post, SMTs are the main reason behind the present pumping and when it will happen, price will be stable again until any such major development again is made here.
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