If you were around during the hostile takeover days, you'll know that Binance made a decision to remove the Steem/USDT pair. The coin was still being traded against Bitcoin but not any stable coin.
Earlier today, it seems like the most popular exchange in the world brought back the Steem/USDT pair and that led to a rally.
Steem jumped from just above 30 cents to slightly over 60 cents. It is currently trading at 56 cents, putting it at 63% profit from the lows of just a couple of days ago.
Getting listed on Binance is pretty fascinating because I remember CZ and the Binance team kind of made it seem like they were on Hive's side. However, deep down, I knew they didn't.
I mean let's face it, there are no friends in this industry. It's strictly business and that's evident in the fact that the community spent a small stack of cash to get Hive listed.
Much attention
I'm not one to go out and look for Steem news but it kind of smacked me in the face. Really, it was actually quite interesting to note that a minor pump in the value of the coin got some serious publicity.
It costs thousands of dollars to get a publication on Cointelegraph. Yet here we are, with a coin that people hardly talk about, getting posted on the front page of Cointelegraph.
I mean, Cointelegraph even went further to subtly shill Steem by describing it as a social media platform where people earn from their activities.
Honestly, it is kind of shocking how fast this news spread. It is almost as if Justin Sun and the Steem people are using their links in Cointelegraph to push the narrative.
Is Steem ded?
Let me start by saying that I'm not one to shit on someone else's hustle because it goes against everything I know in life. There are people on Steem, most likely making money and so there's no reason to proclaim it dead.
In any case, a side by side look at the trending page of Steem and the trending page of Hive will give you an idea of where both platforms are, at the moment.
On Steemit, it is just a bunch of shit posts with no actual project behind them. There's also very little engagement in the publications.
I also have information from a couple of people that talk about how you can hardly meet people on Steem. Meaning, it is rather impersonal and could get lonely.
On Hive, on the other hand, you can see an actual community with numerous projects publishing posts that will attract value to the community. You also see a lot of engagement in publications.
It is also fascinating how the content on Hive trending page is mostly useful. You find a lot of uninteresting and pointless publications on Steem doing high numbers.
As I said though, I would never knock another man's source of income. However, it is important to note that Steem is supposed to be in competition with Hive but looking at the data, we can hardly call it a competition.
At the time of writing, there's far more value to be derived on Hive than on Steem. On top of that, Hive community is also putting in a lot more effort into marketing and getting the word out.
I won't stay Steem is dead out of principle, but I will say that Hive offers more value. Steem getting listed on Binance doesn't take anything away from the fact that whatever made Steem a community is on Hive and the community has evolved into a functioning organism that has surpassed its origin.
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