Why is the daily trading volume of Steem and SBD so low? Steem is a top 50 coin and has a tested blockchain, an actual product (not just a cat game) and thousands of users! I cannot find a specific reason why the daily trading volume is so freakin low!Steem was ranked 130th last month in daily trading volume. Check it out.
https://coinmarketcap.com/currencies/volume/monthly/
A lot of the other coins in the top 100 have daily trading volumes ten times the size of Steem, yet they lack an actual product and they are mainly just imitations of top 15 coins or even shitcoins. It is hard to fill orders of over 1000 steem on both Bittrex and Binance. Just a few months ago, traders showed great interest in Steem.
I understand that we are going through a bearish market, and recently went through an insane bull market, but the drop seems very drastic to me. Why are investors/traders not interested?
Here are some of my theories:
1. They realized that anyone can earn Steem/SBD quickly by writing a decent article and using voting bots and resteeming services (yes, I use them too), thus making it too easy to acquire steem and causing a drop in value.
2. They sincerely lack confidence in the project.
3. They are afraid of the “bad whales”ruining everything
4. They are waiting for the platform to be more developed
5. They aren’t being exposed to Steemit due to all the ad bans
6. They don’t like the witnesses
7. Alot of the famous crypto youtubers dont discus Steemit anymore
Could a lack of liquidity greatly affect Steem’s price in the long term?
What are your thoughts?
Thank you for reading!-Rexlito