Last night we saw a rally that made SBDs briefly surpass the value of Steem. We haven't seen that in awhile and it goes contrary to the wishes of many out there that are trying to peg SBDs to $1 again.
This prompted a move also in Steem, which is now rallying to a current price of $2.54 up from 2.38.
But one thing is odd, the internal market that we call the "Exchange" hasn't seen the spreads collapse to what the supposed street price is. (see Chart below)
Its showing a 1.42 bid which would imply that steem is at a 42% premium to sbd.
But the market for SBDs are showing $2.24 while steem is at $2.58... that is only a 13% premium.
