A good start to the year for us Steemians with Steem price heading north. Maybe this time we will see a sustained move up. Who knows for sure right? But for the time being it looks really good. The volume is up to 200 BTC and it seems to be slowly increasing.
It would be great to see STEEM get to around 30-40 cents before any further downward movement. It would certainly help bring back some lost exposure to STEEM as many traders will also consider it if it looks bullish and many users tend to come back when the price is better.
A 30-40 cent STEEM price will also yield decent prices for all the content creators here. Sure we're far from the incredible multi-USD prices but this is a good start for the time being.
What I would love to see in the future if STEEM manages to get back in to the top 30 in crypto ranking is a derivates exchange listing. It would be great to long and short STEEM on a top derivates exchange like Bybit or FTX list STEEM as one the tokens for trading with leverage.
Infact, margin trading STEEM on Binance would be great for starters. But I reckon it would cost a fortune to get anything new listed on Binance.
Maybe, if enough folks from our community reach out to these guys they might just consider it. Especially, FTX as i've seen them quite responsive to requests from the community in recent times on their telegram and twitter handles.
However, I would first love to see greater volumes on a regular basis on STEEM unlike an occasional 200 BTC trading volume we see during pumps and dumps. I've stated this a few time in the past that many more folks should begin trading STEEM/BTC or STEEM/USDT pairs for starters to help maintain a decent trading volume.
STEEM may not be doing 400% gains as some other coins it has still returned a good percentage gain in recent times. Infact from 9th January until the highs of today it has returned approx 61% gains which is great if you are trading STEEM. There's more than one way to accumulate STEEM, one of which is through trading.
Anyway for now BTC price seems to be holding steady so hopefully we'll see a greater price of STEEM in the short term. Looking forward to picking up some STEEM on the next few dips.
If you are keen on margin trading Bitcoin on a derivates exchange then check this post on Bybit here.
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