Looking at the chart from SBD for the past 7 days it is just madness. Having held at around $1 previously, SBD started the week at $1.49 before rocketing to $9.84 at its peak.
Now if anybody knows what the reasoning behind this is please let me know as I have not found any useful information on it.
After looking around nobody seems to have a definitive answer. Some think that it's due to release on Korean markets, some to do with market manipulation and due to it's low circulating supply (3,594,604 SBD) making it any easier target to push and some due to surging bitcoin markets.
Now as SBD is intended to work off a base of roughly $1, this pump in the market is causing a lot of confusion.
All I know is that I will be selling my SBD for
STEEM on the market as I don't think it can last.
All content written in this article is my opinion only. Any transactions that I make are from my own research and decisions. Trade at your own risk.