Hi guys!
It was a good day for STEEM - it's trading again above $6.
After 3 day downtrend which dropped the STEEM price to $5.20, today we had a nice price increase, up to almost $7. Currently STEEM is trading at $6.20
Weekly STEEM price chart
It's gonna be interesting to see if this is only a momentary change before continuation of price drop or a start of another long uptrend. Next few days should answer this question.
Now, STEEM price increase has a big influence on SBD supply. The higher the price, the more SBD are being created and given to steemians as post rewards. The STEEM price doubled lately which means that two times more SBD will hit the market in few days (7 days payout waiting time). It's gonna be interesting to see the dynamic between SBD and STEEM price - will the SBD be finally valued less than STEEM?