I have seen a huge spike in value for multiple cryptocurrencies over the last 24h.
Earlier today almost all of the top 20 coins listed on Poloniex were exhibiting growth at the same time. Which is rare!
And to look at the price graph data on coinmarketcap (seen above) listing 7 day growth, one might feel rather encouraged right now about the overall rise of the cryptocurrency marketplace.
Bitcoin has been doing a steady rise over the last week (currently listed at $1319 on coinmarketcap).
Over the last 24h, the following coins (from the top 20) have seen spikes between between 10% and 30%.
- Ethereum
- Ripple
- Dash
- Monero
- Golem
- Zcash
- Pivx
- Dogecoin
Whilst Steem did see a more humble spike of 3% over the last 24h, it has been climbing steadily with a similar pattern to Bitcoin, up 12.5% in the last 7 days.
And I am sure I don't need to tell you what a promising sign this is for the bright future of Steem as a stable leading cryptocurrency and Steemit as the leading decentralised social media platform.
What is most promising for me is that Steem was clearly connected to this spike in multiple leading coins.
Some of the top 20 coins, like Litecoin, Ethereum Classic and NEM saw a decline over the last 24h, even though their overall trend is up. But Steem was connected to the majority. No question about it.
Here you can see coinmarketcaps listing of the top 20, showing % 1h, %24h, %7 day.
Notice how Steem, like so many of the others is showing three green numbers. Rise, rise rise!
From my perspective as a trader this is a very pretty picture of green coloured numbers :)
I would very much appreciate anyone's feedback on why this might be happening right now?
Blessings to you all and LONG LIVE STEEM!