Whenever a Coin Gets Listed on Binance the Price Jumps.
Today we are watching Steem hold it's own as the crypto market as a whole tumbles. Right now as I write this post Steem is priced at 5190 Satoshis on Binance and 5350 Satoshis on Bittrex.
Pivx Listed on Binance. Check Out the Chart.
There is Always Excitement as a Coin Gets Listed on a Large Exchange.
This is great news as Binance opens Steem up to a new market. This will increase the amount of people who will speculate on the price action of Steem. Binance is an exchange that is loved in Asia so I expect this move will help support the value of Steem.
As we saw with PIVX the price of Steem will likely rise to a new level and sustain that value for a period of time. I don't trade Steem but I know many people do. At this current time I am HODLing my Steem. I see no reason to sell any at this time. I also see no reason to buy. I will wait until the SMT's are finally live before I decide what I will do going forward.
This could explain the large powerdown of the @Steemit account a few weeks back. Liquidity for the exchange. Just speculation but it makes sense.