At What Price STEEM Will Be A Top 20 Cryptocurrency?
The recent wave of upswings is continuing to surprise us all. STEEM just got over $8 and it seems there's significant consistence behind this trend.
Now, I am doing my best to keep my head between my ears and I would suggest you to do the same. You never know what happens in the crypto world. One day you're on top of the Moon, and the next you could be in Mariana's Trench.
With that in mind, let's make a short exercise: at what price STEEM would break into the top 20 cryptocurrencies? For those who are a bit late to the party, I want to remind you that STEEM was briefly on the third position in May 2016, when it launched. So, coming back to the big boys league would be just a matter of revisiting old places, so to speak...
At the moment, STEEM market cap is $1,990 million, or almost $2 billion. At this value it's already over much more hyped players, like Zcash, Tether, Waves or Dogecoin.
The 20th place in terms of marketcap is held by ICON, which boasts around $2.5 billion.
So, at a circulating supply of 247 million (roughly), STEEM would have to trade at:
$2,500,000,000 / 247,000,000 = $10.12.
It would be really interesting to see that happening.
But remember: keep your head between your ears, this is just an exercise and market is always right.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
I agree with you totally, market can change any moment but i can see very organic growth for steem ,as this was expected when the SBD began it's ride, ultimately that has push the Steem price up, which has been done now...
In my analysis #3 34 hours ago I predict that Steem will climb to $8.60 and we almost there howering around $8.
Check it out my blog for more!
STEEM definately belongs in top—20, and I'm pretty sure it will get there👍
It's great seeing the recent rise in Steem prices to, IMHO, where they should be. We actually have a working project with a community as opposed to say something like Cardano which don't get me wrong don't have any huge issue with it but it's not even a working project.
I'm still trying to wrap my head around the interaction between SBD and Steem despite having been involved on here for a while. What's the overall strategy or are there arbitrage opportunities between the two? Basically shoudl I convert SBD to Steem and if so when is the ideal time in regards to the prices?
If SBD is out of peg (which is now for over a month) yes, there are. If these "arbitrage opportunities" are continuing for a while, the price can be hurt really bad. So witnesses - including me - are adjusting their price feed bias, in order for more SBD to be printed. The logic behind this move is: the bigger the supply of something, the lower the price. When the SBD pump started, the total supply of SBD was around 3.5 million, now is around 4.5 million. I would say that this measure of witnesses is working - not as well as we would like it to work, but it's working.
The fundamental thing you need to understand about SBD is that it's not "hard pegged" to the USD (there is no USD kept in cold storage, "mirroring" the SBD supply 1 to 1), but it's "soft pegged" to "$1 worth of STEEM". It's a debt instrument.
Is there a concrete reason why SBD has gone so high, ie what makes it go so high when ideally it's supposed to be near $1?
When you talk about voting that goes way over my head. You have any good link where I can read up about this more?
Thanks!!!
i'm just stoked to feel like i've backed the right social blockchain horse right now! :)
I know the feeling :)
$10 to get there, $15 to stay there.
true words of wisdom :)
IoT Chain, which started trading in early December is now right below STEEM on World Coin Index right now.
Things are gonna shake up big in the next few weeks.
or 30 to go up :)
I hope we will see a bitcoin-like bull trend for steem, and just look at our screens in disbelief every day :)))
I think it will grow and fall and grow again!
I saw this in 2017!
https://coinmarketcap.com/currencies/steem/
@dragosroua $10.12 is not too far off now :D
I would think cracking the top20 would make the coin much more attractive to people who are all about diversification. Any thoughts on the 25% 75% split with these new prices?
If SBD will start to trend lower, the split may change towards 50 / 50, but have no idea how much it will take to reach that.
Jesus man, you may need a stopwatch to find out. (-: