Steem Price is very stable on Binance
It is still a very big surprise to me. Some of the exchanges have opened their trading for Steem already. Binance is one of the exchanges that opened deposit and withdrawal much earlier than the other exchanges. However, binance had not opened trading yet for Hive. Actually they have not even listed Hive on the exchange yet. But they did promise via their twitter post saying that Binance will support the hard fork by listing Hive tokens on the platform. Most the people still think that Binance is backed by Justin Sun and they don't trust Binance like how they trust other exchanges.
I have been observing the price of Steem on Binance since deposit and withdrawal were enabled. I even transferred some of my liquid steem to Binance and sold them for around 2648 Satoshi and 2800 Satoshi. Two days back, I noticed that the price dropped to around 2550 which is way lower than 2800 which is my selling price. I thought it is a good opportunity for trading and bought the steem back for 2550 Satoshi per steem.
From then on, I have been looking for a good opportunity to sell my Steem again which is sleeping in the exchange but the price is very stable at 2500 Satoshi for the past two days. It keeps fluctuating between 2450 Satoshi and 2550 Satoshi not giving any great opportunity for trading. I'm planning to sell my steem again if the price hits 2800 Satoshi again. I have noticed in the past that the price of steem even reached over 3000 and 4000 Satoshi when there was good news and FOMO among the people. In spite of people moving out of steem now, seeing the price of staying stable is definitely a big thing I should say.
Maybe the party hasn't started yet. It can take some time for the actual trading to start maybe. One good reason why there is not much dumping is that the steem stake is locked down as Steem power and it takes 13 weeks for the power down to happen and complete fully. Big accounts may not have anything liquid immediately to dump in the market. That is one big reason why steem can look stable right now. I'm hoping to see steem again at a better price so that I can sell off the holdings I currently have in Binance Exchange.
Let me know your thoughts about the current price of steem.
Still no deposits/withdrawals for hive on the big exchanges :(
Bittrex opened deposit and withdrawals for both Steem and hive. I also did a small trade today by dumping some of my Steem holding.
That would be the guess.
Also, it might take some time - as some will be watching Hive from the sidelines.
As Hive grows, the energy (and money) should flow here.
Yes Hive is already valued higher than Steem right now. I guess when more good projects jump in, price can pump.