Anyone know what is going on with Steem? by jondoe

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steem · @jondoe · Jan 18 '20

$4.30

Anyone know what is going on with Steem?

# I just checked on the price and it is up like 55% in the past 24 hours

That is a bit unusual with how it has traded over the past year.

Anyone know what is going on?

I am not complaining at all, I love it, I just wish I wouldn't have converted some of my steem into steem backed dollars thinking they would go back up to a dollar.

Either way, is this pump random or based on some news?

https://i.postimg.cc/YCnw4DQN/5b-EGgq-ZEHBMe6s3wi-Pg-GLGMfvig9-QSh-SZU5pq-HX1-YYALSb-Gq-JBWXy-N6qz-Eo7b-Mm-W.png

(Source: https://www.coingecko.com/en/coins/steem)

Will it hold do you think?

👍 jrcornel, communitycoin, cryptopassion, brian.rrr, vlemon, busy.pay, planter, afiqsejuk, jondoe, coinchaos, epan35, morellys2004, cardboard, profitcheck, rombtc, tipu.curator, sumatranate.leo, starworld, techken, sunit, steem-key, corndog54, donkeypong, exe8422, hesaid, palnetvoter, cn-marlians, chireerocks.leo, dtrade, cn-pal, bilpcoin.pay, haxxdump, tonimontana.leo, cn-leo, stmdev, mindtrap-leo, dblogbasicincome, dblogvoter, thebilpcointrain, toni.pal, andrewma, raise-me-up

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cn-pal	210,629,933	2%
palnetvoter	768,312,269	70%
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thebilpcointrain	16,141,846	1%
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@cardboard · Jan 18 '20 (edited)

Convert it back to STEEM :) the feed price is still around $0.195 so 1 SBD -> 5 STEEM. Conversion takes 3 days though so the feed price will slowly rise.

Or - we might have a pump on SBD too.

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@jondoe · Jan 18 '20

Isn't the debt ratio still over 10% though?

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@cardboard · Jan 18 '20

No idea to be honest but this is a conversion finished 20 mins ago:
![Screenshot_20200118_211907.jpg](https://cdn.steemitimages.com/DQmZUp6bNf2w4TfBvzp18fd51X83oKtdgeD3vHeF32LkRFd/Screenshot_20200118_211907.jpg)

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@rollandthomas · Jan 18 '20

Voice is moving off of EOS.

<hr><center>Posted via <a href="https://steemleo.com/">Steemleo</a> | A Decentralized Community for Investors </center>

👍 leo.curator

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@jondoe · Jan 18 '20

Is that the reason for the pump? I feel like that news was known a couple days ago?

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@starworld · Jan 18 '20

There is no news that would account for a rise in the price of Steem. More than likely, the rise is just a piggy-back effect of Bitcoin's rise, as is usually the case with most if not all Crypto Currencies. When Bitcoin rises, most of the other coins rise; When Bitcoin falls, most of the other coins fall.

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@jondoe · Jan 18 '20

Yes yes, but steem was outperforming just about everything, which is a bit unusual.

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@starworld · Jan 18 '20

I just did another search, and found that one possible reason for the increase could be the gaining popularity of the Splinterlands Card game. As I understand it, Splinterlands is not only based on the Steem blockchain, but the game uses Steem within the game itself. i.e. 93,337 Steem were traded so far in January alone with just 3353 players. While the game does certainly shows potential, I don't know if this will actually have a significant effect on the Steem coin, or if it is at all responsible's for the coin's current rise. It will of course be something to watch.

https://www.kickstarter.com/projects/526764488/splinterlands-untamed-a-blockchain-trading-card-game

https://www.stateofthedapps.com/dapps/splinterlands

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