As I was getting ready for my daily market snapshot, I had a quick look at the charts, only to freeze in awe, when I saw this STEEM spike: during the last 24 hours, it appreciated with more than 50%.
As a matter of fact, STEEM is the most appreciated token in top 100 at Coinmarketcap, during the last 24 hours, with a whooping 54%. The next token in terms of sudden growth is Power Ledger, with only 31%.
According to CMC, again, STEEM had a $41 million volume in trading, with more than 60% coming from Upbit (a South Korean exchange).
Here's how the STEEM chart looks in Upbit, at the moment of writing:
On Bittrex, STEEM chart looks like this:
And here's how the SBD / STEEM correlation is looking now, according to steem.supply:
The peg is broken again, and SBD seem to be taken for a ride, but I will look closer at this correlation in the market snapshot post.
In my humble opinion, the pump may have been caused by the recent update regarding communities, but I might be wrong.
Whatever the reason for this pump, a very good way to start a Tuesday, if you ask me :)
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.
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