Sweet baby McTrump, what is going on?!
Someone's got to explain this to me. I realize that we just had an exchange open in South Korea that allowed for trading of Steem and SBD, and I figured that would drive the price up. But SBD at $11?! Good God, where did this come from? I remember when this year opened, Steem was trading at around 15c. I'm kicking myself for not buying more when I had the opportunity (not because I could be filthy rich, but if this trend continues I don't think I'll ever be able to buy a significant amount of Steem again lol). Still, how did we get here?
And where does it go from here? The thought that this is a pump and dump did cross my mind. Much as I love Steemit, I don't see the organic demand for the services currently offered through the blockchain. However, that wouldn't explain the concurrent, albeit far less dramatic, rise of Steem. They're two separate tokens. I know that SBD is exchangeable for Steem, of course, so they're linked, but they're not the same. Pumping one does not directly pump the other.