One Reason Why Steem's Price Has Always Seemed Suppressed
Without a doubt, Steem (and Steemit as the face of the underlying blockchain) is well grounded and far more advanced than most blockchain projects out there. It has built-in utility, a stabilized economy, a DPOS model, rapid transactions, a scaled service, and future platforms being built on the chain.
Nevertheless, Steem as a cryptocurrency has struggled to maintain its rank. The price has stayed rather stagnant over the past year, and only recently has it managed to gaina bit in price.
What gives?
I think one large problem the platform has (other than an association to massive inflation which was actually remedied over the past year) is the idea that people continue to use it as an income generating platform rather than as a store of value crypto. This is ironic given the incentives built in to using it for store of value purposes.
I believe people view Steemit as Steem's only function, unaware of the potential of SMTs. I also believe it serves as a gateway into crypto for a lot of people who subsequently sell their Steem for other altcoins.
I believe this is the rationale behind the pressure that has held Steem down for some time. I also believe that no solution needs to be implemented other than ongoing and progressive work on SMTs. This situation will resolve itself in due time when people begin to realize its more than an income source to shed, but rather a real advanced crypto to be HODL'd.
Time will tell. But I plan on continuing to build up my Steem Power in order to keep walking the walk until my beliefs prove out to be true. Lets go, Steem! Show the crypto world what we have here.