This isn't my quote, it was taken from the website Blocktivity (https://blocktivity.info/), which is a website that tracks transactions across blockchains.
The quote can be seen here:
If you are not familiar where I am going with this, you will be.
Using this logic, one would think that the blockchain with the most transactions would also be the most valuable.
Makes sense right?
Continuing with that logic lets take a look at the blockchains with the most transactions:
Check out that first one, our beloved Steem.
Not only is Steem the most active blockchain in the world, but it is by a wide margin.
Not only right now, but it's been that way for a while now.
In the last 24 hours, Steem has done over 8X more transactions than BTC and more than 2X that of Ether, the two most valuable blockchains on the planet.
I know what you are thinking, perhaps it's just been a slow day for BTC and Ether?!
Nope.
Steem has done close to 2X the all time high number of transactions in Ether and get this, it's done over 4X the all time high number of transactions in BTC!
Let that sink in a bit, little ol Steem has done 4X as many transactions in a single day than the most valuable blockchain on the planet.
Not only that, but look at steem compared to all other blockchains in terms of transactions:
As you can Steem has done far and way the most transactions over the last week compared to all other blockchains.
That is mostly due to the fact that the Steem blockchain has a very popular website Steemit.com built on top of if.
Which also brings me back to my point though, Steem is one of the few cryptocurrencies that currently actually has a use case.
Given that information, one would think that the overall valuation of the network should be at least somewhat close to that of the most valuable blockchains?!
Nope.
Check out the list of cryptocurrencies by market cap:
(Source: https://coinmarketcap.com/)
As you can see, Steem sits at number 30 overall with a market value of roughly $800 million.
By comparison, that makes Steem 230X less valuable than Bitcoin.
For a better visual, here is a comparison by market caps:
In what world does that make sense?
Yes, I get that each chain is solving very different problems and has very different use cases and potential, but the difference in valuation compared to their usage at the current time is staggering.
At some point will valuations more closely match usage levels?
I would think so.
To Recap:
Blocktivity is a neat website to check the number of transactions occurring on the most popular chains.
Steem is far and away the most active.
Steem is significantly undervalued compared to many of the others based on it's usage.
At some point I would imagine that money will flow into projects that are actually getting used by people, much like the quote at the top of the post states.
Stay informed my friends.
Charts and graphs were taken from:
Image Source:
https://coincentral.com/what-is-steem/
Follow me: @jrcornel
Nice analysis! Looking forward to the future in STEEM
👍💰💰💰👍
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Right now, most crypto success is built off of marketing. There are far too many people looking for the next “get rich quick” crypto and buy solely based off of hype rather than actual use case and research.
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That is a very good point. Having said that I sincerely hope that steemit.inc plans on spending some money on advertising and marketing when the website and platform is "ready". Word of mouth has been great so far, but we could grow many magnitudes more with some advertising.
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HERE IS THE HYPE
Computta
https://computta.com/?ref=268161
These guys have really figured this out. You can make money while you sleep, Just signup Download the free miner. There is never a fee. (not to sound like a shill) This is like a money drop! I will post again with details of my profits.
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I guess we can't do much something about that. Many of us want to get rich.
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The major draw about Steemit, at least personally readily observable, is obvious; like Facebook, people can connect with other people from all over the world and stay updated with the latest information. Unlike Facebook, Steemit is everything Facebook wishes it could be but cannot figure it out. If Mark Zuckerberg hasn't by now, all is lost for social media networks as we know it.
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This is actually true across most asset classes in the beginning. Eventually the market develops and intrinsic value is translated to price performance.
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Definitely awesome stuff.. I do a weekly Blockchain Breakdown and on this last one you will see Bitshares temporarily passed Ethereum putting STEEM and BTS at #1 and #2!!
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Steem is so under rated its not even funny! Im just new here and glad I have got in now - I can see building traction in the future. Its such a better platform than other social media platforms which are just built of advertising and greed. The content here is amazing
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I didn't know ETH had surpassed BTS.. STEEM is soooo far ahead!!
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Well I will just keep my fingers crossed and hope that steem grows even larger than right now and I can make a big roi!
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steem and trx ;)
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Another interesting metric, is the development effort put into a chain. The amount and type of applications that are and can be developed on the chain. Could you imagine the value the next project of the creator of steem represents in a few years time. Well I know what my wallet is going to hold :-)
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Well said, the actual true value of a platform is the one that is or will be used on a big scale.
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Actually the blockchain with the most transactions is not the most valuble.
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thanks sir for your sharing
great info
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at last a star chatting sense! I'm amazed how several shit coins or fair emphatically out scams are in put the lid on 100. But, seems like marketplace is in receipt of other rational as the time goes by. carry out new posts like this!
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It would seem that Steem should have a much bigger market share based ikon this information. Part of me thinks that the people involved in the Steem platform are making a lot of transactions. I’ve made 5 already today I think. This would certainly contribute to our high transaction totals. I would be very interested to see the number of unique users making transactions daily compared. I believe that once Steem and the platform gets a bigger market share of users we will see more of the gains we are expecting now. I am no financial expert or advisor but that is certainly my hope.
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thanks for your sharing.realy good job.
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Thank for share @jrcornel
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Steem is without a have reservations one of the most excellent blockchains out there. additionally a blockchain was by now is in manipulate and is nature second-hand and hardened to the max!
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Steem is without a doubt one of the best blockchains out there. Also a blockchain was already is in use and is being used and tested to the max!
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a very useful post
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Thanks for posting! I was already interested in BTS and blocktivity is one of the sites i didn't even knew.
Voted and resteemed. Good job :-$
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thanks post
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STEEM definitely is in a great position in factora that other assets desperately need. The scalability available on the platform to transact is very attractive and will lead for more people and maybe even organizations to get on the platform. Also, being a bridge between the crypto space and social media makes in very attractive when considering potential valuations considering the market caps of some publicly traded social media sites and some crypto assets.
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Love steemit for quality posts like this one. People trying to refine every post and it's really nice to read posts like this one, cause I'm tired of mems and stupid things on other sites. Keep it up, I'll back here :)
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That is a great case for holding your STEEM! I do agree that with some marketing, this will be the best opportunity that crypto has to offer. I tell everyone I meet and I have had people in my Uber sign up while I was driving them!
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Your title speaks everything. The more the item is being used or accepted by the public, the more it will be valuable. Same thing with crypto. That's why in choosing where to invest, we need to choose the coin with real project or purpose. That way we can be rest assured our investment will have some direction. Great post!
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nice info
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Congratulations @jrcornel, this post is the ninth most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 57 and the total pending payments to posts in these categories was $3874.97. To see the full list of highest paid posts across all accounts categories, click here.
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What about the Theta Token, it seems to be looking like the new generation YouTube on the Blockchain, is that a good investment, do you think?
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appropriately now, a large amount crypto triumph is built off of marketing. in attendance are a lot overly several community looking for the after that “get heavy quick” crypto and good deal exclusively based off of build up considerably than definite draw on lawsuit and research.
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Steem coming years maybe a lot of people appreciate it and used it on daily basis a now still striving
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Steem blockchain is in no doubt a game changer i the blockchain framework
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Can the high activity be because of all the logs posted here? It definitely has a future since i see both inflow/ outflow happening in great numbers. Last time when the price rose it was because of whales gaining interest here but what will happen once this pool is full of whales>?
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All that we want and pray is that steem goes maybe 10 times bigger it is at present... For that maybe a little investment to create a platform will be needed. Moreover at some stage maybe little advertising should be done after platform is prepared. We wish steem go grow more so that we can mske a roll out of it.
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I appreciate your support a lot.
great post
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Finally someone talking sense! I'm amazed how many shit coins or just flat out scams are in top 100. But, seems like market is getting more rational as the time goes by. Keep more posts like this!
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