During the latest bloodbath something amazing happened to the Steem Dollar. It became a safe haven in the crypto world, almost everything fell hard, including Steem. However, the Steem Dollar or SBD increased an amazing 49% in the last 2 days.
Lets have a look at the last 7 days from coinmarketcap for the US dollar price:
As you can see from the graph, the Steem Dollar grew from 1.54 USD yesterday to 2.30 USD right now. That is one helluva increase during a bloodbath. You can also see that volume picked up dramatically in the lower right hand corner.
This is what the Steem Dollar looked like against Bitcoin (daily graph) on Poloniex:
From this graph you can also see that the Steem Dollar had an amazing run against Bitcoin, even better than against the USD. In fact, the price inccreased 73% from the 25 of June to the current price of 0.001022.
So, what does this mean to you and your Steemit blogging? Well, it is good news, you will now make 49% more money in USD from every blog post or comment and if you are smart, you will use some of those earned Steem Dollars to buy new Steem Power and get ahead of the competition or you can simply withdraw your Steem Dollars into your local currency and spend them.
This price will most likely not last much longer, as soon as the major cryptos will recover, people will move back from this temporal safe haven and into riskier cryptos, but if you act quickly, you can profit from this current bloodbath.