What's going on? It's barely above its all-time low of $0.53 on Dec 17 2018.
Are holders of SBD preparing to for the price of STEEM going up? But why would anyone exchange their SBD for STEEM if STEEM were to go up? Once the Debt Ratio, that is, the market cap of SBD divided by the market cap of STEEM went below 10%, you could redeem one SBD by burning it in exchange for 1 USD worth of STEEM.
