SBD trading volume is EXPLODING!!!
I'm not sure if anyone else has noticed, but the SBD trading volume has just SHATTERED all previous records. According to coinmarketcap.com, the trading volume for the last 24 hours has been a little over $171 million! This is more than a 4x increase over the previous record of $40 million, which was YESTERDAY. In fact, there have only been four days total when the trading volume exceeded $10 million, and today it is 17 times that! Here's a brief chart with the previous record 24 hour trading volumes.
This is a pretty staggering trading volume, and I think it actually puts SBD in the top 20 coins for trading volume. Maybe people are catching on to the idea of instant transactions and zero transaction fees.
In any case... we live in exciting times!
All the best,
Trogdor
Yeah, I saw this and I didn't get it. The total supply of SBD is 6,646,375 SBD, according to: https://steemd.com/fales
Supposedly, Upbit alone is generating 185,368,000 SBD of trade volume, according to:
https://coinmarketcap.com/currencies/steem-dollars/#markets
It's so high, coinmarketcap is excluding it from the total average:
Interesting, do you think it's a reporting error?
No, I don't think it's an error. Coinmarketcap often excludes outliers because they assume that exchanges are reporting something incorrect. But in this case, I think the South Korean exchange probably is reporting actual volume.
It's probably a good arbitrage opportunity, but I'm sure it's easier said than done.
I just realized a detail, the arbitration with steem is the easiest of all there is for not having transaction commissions and for being instantaneous, I did not think about it until reading this message, I'm not sure but steem is the only cryptocurrency without transaction fees?
really this news with these large volumes has me totally excited.
I believe that right now we are in the best business.
Hello ✨ I am so happy to see that you are writing again😊 I am assuming we have bright future
Thanks for reading :)
the trading volume for the last 24 hours has been a little over $171 million! This is more than a 4x increase over the previous record of $40 million
wow awesome news, spectacular growth.
in 30 minutes I will leave you my positive vote because I liked this information. and I'm going to share it because it's good news for everyone.
(remember to visit my space)
Thanks for reading!
impressive vote, is the highest obtained until the date in a comment of mine, thank you very much for a small fish like me means a lot.
True, now transactions of SBD is really increasing, in opinion also it's happening due low transaction cost and yes SBD will enjoy the greater heights on charts in coming future. Thanks for sharing.
Have a great day and stay blessed.
Thanks for reading!
Welcome. 🙂
Yes it's really amazing that we are seeing such great numbers! I can only imagine the numbers we will see for the rest of the year... Steemit is going to be very very popular :)
Yep, thanks for reading!
Wow! I wonder what's truly the motivation in this, of course the high price, I wonder if it's just a couple huge whales there were sitting in a mountain of SBD waiting for a pump. Who knows but either way it's very exciting and just more examples of why we are ready for a huge breakout.
Yeah good question. Apparently it could be a reporting error? re inertia's comment that total supply is only ~6.7 million SBD. Something's a little funny it seems..
Wow it's spiking some more! 35% to 8.41!
https://coinmarketcap.com/currencies/steem-dollars/
https://steemit.com/steem/@mysearchisover/steem-dollars-are-spiking-again
Thanks for reading!
Thank you for the generous vote. :)
congratulation
Thanks
Awesome news! If I understand well this means Steem's worth will skyrocket right? new users coming will increase too.
Thanks for reading!
All thanks to you @trogdor!
These are the things that make your day, everything Steemit is achieving and there are still more things to come.
Thanks for reading!
I really don't understand why people buy SBD instead of Steem. I think slowly but surely people start to realize that Steem is not Steemit. Steem has so much more and this is only the tip of the iceberg. Such high volume is an indicator for a sentiment shift towards the Steem blockchain. Great news for us !
If so, do you think it is worth maintaining steem power ?, I mean ... what is growing is steem and in case one day is worth a lot, it would be very profitable to have those steem but I do not have anything in this moment steem alone I have steempower that at any time I can do a powerdown, but I do not know if once the steem has a high value that steem request would be at that high price or the price now.
I do not know if I explain myself correctly.
The concept of SBD ( Steem Dollars) is to ensure that it's value will be at least 1 US Dollar. If you have Steem Power, you can always power down at some point and have your Steem Power converted into STEEM. SBD can be converted into Steem also or just sold as SBD on bittrex. If Steem reaches 100 dollars and you have 10,000 SP, it means that you have 1 MILLION DOLLARS.
I hope I answered your question. Bottom line is that you should invest all your earnings into SP, because STEEM is inflating 100% on a yearly basis.
The inflation rate of STEEM is currently about 9% and will decrease to a terminal rate of about 1% over the next 20 or so years.
Interesting, I've read multiple times that the inflation is 100% yearly, where can I check the current rate?
Thanks for clarifying, I have other questions for you also. Just give me a green light :p
go I just realized now that you are the same person who commented on your post, hahaha the world is a handkerchief I do not know if it is chance or that but the fact is that here we are again commenting.
1 million dollars? wow that sounds spectacular hahaha I hope it at least reaches any value that comes close to that.
thank you and I will follow your advice, to increase sp
Thats the way to go! Wish you luck :)
I also wish you the best, and also we are all in the same boat and this boat is doing very well for what it seems;)
It's definitely interesting. I think what happened with the recent spike in SBD is that it was added to some Korean exchange and it just caught up with the cryptomania of people buying everything. Thanks for reading!