I want to share some of my analysis about steem.Today steem price is nearly 14 cent.All time low was 7 cent at march 11, 2017.And all time high 8 dollar at january 2018.So, we are very near to price all time bottom.Although last 2 years crypto going on under big downtrend.Steem also suffer much.I have found some way to increase steem price.We saw @burnpost and
@sbdpotato are trying to rise up sbd price by their own way.That is really a good formula.Today i want to say about only steem.
Steem circulating supply 340 million and price now 14 cent.
Bitcoin circulating supply 18 million coin and price now 8646 dollar.
Ethereum Circulating supply 110 million and price now 161.66 dollar.
If we compare steem price with bitcoin then we have to make some calculation.
If steem circulating supply will 18 million then steem price will be 2.80 dollar.
So, why bitcoin now 8656 dollar and with same circulating supply steem price why only 2.80$
Because of good will, reputation,availability and more demand with low supply of bitcoin.
All crypto exchanger of world use bitcoin as a base currency.So, bitcoin daily volume is 37 billion 444 million dollar today.
This is the main difference.Do you how many exchanger using bitcoin as a base currency or trading currency.Answer is all exchanger.
Do you know how many exchanger uses steem as a base currency or trading currency.Just see the picture below.
steem has available for exchange in Only 3 reputed broker binance,polonix,upbit.
Then how we can hope steem price will rise?
I want to give you another example.
Huobi token price is now 3.19 dollar with 240 million circulating supply.I found total 109 exchanger has huobi available for trade.
Some exchanger uses steem as a trading currency.so, steem daily volume today 623k dollar.
Almost same circulating supply steem price is 14 cent.
And huobi token price is 3.19 Dollar.
I will say this is the failure of steem authority.I check sbd also has same condition.Only 3 exchanger use sbd as a trading currency.
Above i only show steem price compare with others coin.Now i want to share my thinking.How we can increase steem price.
I mentioned above huobi token.Huobi has own exchanger.It also has 2 branch.Huobi global and huobi korea.Huobi is one of the top exchanger of world.There is another example is binance.Steem need its exchanger where steem will be use as a base currency.We know in binance if anyone hold bnb coin he has to pay less transaction fees.You can also pay your transaction fees by bnb coin.so, ultimately bnb are using everyday.So, bnb coin trading volume is high.
My opinion is steem need to open their own exchanger.And use steem as a base currency with bitcoin and ethereum.By this process trading volume will be high, which effect directly to steem price.
There are so many exchanger.Why steem exchange limited with 4 and 5 exchanger.Steem authority need to contact with good reputed exchanger like poloniex,huobi,atom,coinsbit etc.If steem will be available at above 100 exchanger then nobody can not prevent steem price to go up.
I do not found any steem wallet except steemit.User name is steem wallet.But my advice is open steem wallet service with number like bitcoin and ethereum.When i was unknown about steem then i though if i buy steem where i will store it.This is a major confusion for new person.This wallet service need for only to make understand crypto trader and investor.
We have seen when xrp price went more down then ripple authority lock up their 55 billion coin untill uncertain time.So, they can prevent price fall.Although that formula not effect much.But that was a good theory.If steem supply reduced then price can go up.We have to make more demand with low supply.Steem uses for only play some game.I have not seen steem uses for any product purchase service or uses for payment system of big company like odesk,fiver,alibaba etc.
Above i said the work stage of steem authority.But this one is for trader or steemians.Now price is very low.Why you are selling your own steem at very low price.We have to hold it.If we hold steem then more demand will be create on market.New investor is coming every month.If buy option open much than sell option then ultimately price will rise.
So, best way is hold your own coin and do not sell much in a month.
Steem authority and we steemians can together do it.I think only 200/300 active steemians doing it.It is not 5% of of all steem account.We have to give importance much.Then new steemians will come with new invest.More demand than supply, must increased the steem price.
This article is base on only my opinions.I find out these formula.If you have better then you can share it to comment section.