I am curious what all this spike is really due to... If you sit and watch the exchanges you can tell that much of this is hard manipulation. I am not discrediting steem at all, it's just that there has been many coins in the last 8 weeks that have skyrocketed with no apparent reason. Did ripple skyrocket because BTC skyrocketed? Or did BTC skyrocket because people investing in ripple are forced to buy BTC to get the ripple? I use ripple as an example simply because it raced to #2 in market cap and had quadrupled its market cap in less than 8 days. Of course it's in the interest of coin bag holders to pump a coin at the same time that BTC rises, it's like multiplying your gains.