Good Morning

So, now we know that the bulk of the communities have moved from Steem to Hive, so the chances of trades on Steem would have come down, right? Why, you ask? Well, if there are not many to write on Steem then who is getting Steem and who is trading it for FIAT?

I am sure that you would have guessed the answer - that there wouldn't be many. Besides, one of the biggies on the Steem Blockchain, our beloved Hive account@splinterlands also moved to Hive, which means the transactions would be really low on Steem. Then how come the Steem price stays constant and almost equal to Hive?

Well, I trade both Steem and Hive now and then and here is what I noticed.

Steem Price Manipulation

Take a look at the screenshot.

See that? Someone is offering to buy at higher prices even though the actual trade value is not to that level. Why? Because the traded value will be taken to arrive at the actual price of Steem. So, when the trades are always at 0.25, etc. then the price will show as 0.25 based on traded value.

Besides, look at the values that are being exchanged - 0.0036, 0.004 Steem and likewise. So, someone is gaming the system. Also, isn't the Steem wallet now run by Poloniex? Guess, who runs that? 😊

Hive Price Chart

So, to contrast it and to check that I have not got the details wrong, I even checked the Hive wallet. Better be right than give out false information, I thought. And here is how the Hive wallet trade window appears.

See the difference? Here the traded values reflect the actual trades. So, no manipulation here.

So, now you know why Steem being low on communities is still matching Hive on Price. Of course, this is just one of the finds, and I don't know what else is happening behind the curtains.

Something interesting to notice on a Friday! 😊

 

Image Courtesy: Steem and Hive