Steem Dollars' peg: People are buying overvalued SBDs at Polo

in #steemit-market • 8 years ago

https://poloniex.com/exchange#btc_sbd

I don't know if it's someone trying to mess up the peg or if people just think it's something Steem related and immediately buy it while FOMO'ing (fear of missing out), but either way, this seems like something very risky to do.

Currently trading around 0.0027 SBD/BTC. At $670 per Bitcoin, this values SBD at $1,8 instead of $1, a huge premium, so be careful.

I think this is just something temporary since it just got on Polo and people may be panic buying, but assume Polo's volume could surpass the internal market's volume, is there a chance the peg could be broken and SBD turn into just another "altcoin" if people take no regard on what its value should be?

8 years ago in #steemit-market by
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     8 years ago 

    Actually, you regularly see SBD trading in at $1.30 to $1.40 premium. Usually during a STEEM rally. But it also shows the Steemit Market is broken and poorly designed. I doubt this is an accident.

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