The #Steem price has been pretty stagnant for a while with some activity to follow the general crypto trends, but this week it has been performing better than most coins with double digit gains. That is not so good if are planning to buy some for the next #SPUD (Steem power up day) this weekend.
Data from @coingecko
It is not obvious what is driving this volume. Steemfest did not get significant media coverage, so I doubt a load of investors are fired up by the idea of SMTs, although I am excited by the idea of communities.
When I looked closer I see that the price is significantly higher in the Korean Upbit exchange than on others.
Maybe we should not get too excited for now. Steem is still ranking in the mid 80s amongst various coins I know nothing about.
I may still buy more for SPUD. I have built up my SP over the last few months by buying a few hundred now and again. Some of that was using free crypto I got from Coinbase and Keybase giveaways. If you take advantage of those you should at least get to minnow status quite easily. I am aiming to be half way to orca soon.
We need more accounts with significant SP spreading the rewards in around. Be wary of using curation trails as I see some of these supporting low quality posts that bought votes. That may make you a little more, but it is bad for the image of the platform. I do mostly manual voting and am less likely to vote for big accounts that self-vote. There are plenty of small accounts creating good content that would attract users, but they have little chance of trending. There is more to life than crypto.
Steem on!