Yesterday when I checked CoinMarketCap I got excited when I saw that SBD was up nearly 30%. I started to get giddy thinking it would be a good time to sell some SBD’s for BTC or Steem. I opened up my computer to get ready to send some BTC when I looked at the “markets” tab on CMC.
Upon checking this tab, it appeared that the price on HitBTC was multiples higher than every other market including Bittrex, Poloniex, and Upbit. The other exchanges had SBD was priced below $2.00, while HitBTC was priced around $10, albeit with only about 8-10% of the volume.
I figured I would sign up for an HitBTC account to see if it was possible to take advantage of this arbitrage opportunity. Within a few minutes I was on HitBTC and getting ready to deposit some SBD when I saw that the wallet was down and that SBD could not be deposited to HitBTC.
I was thinking that maybe I should keep some SBD on exchanges in case of pumps like this, but there are so many exchanges to keep it on that it may be too complicated. I wish CMC would not calculate this price into the average SBD price since it is a rather large outlier.
As of a few minutes ago, the price of SBD is down huge today, nearly 20% but this is completely due to a decrease in trading volume of the HitBTC exchange for SBD.
