SBD is back to $1 and Steem needs a stable coin pair in top exchange such as Binance or Bittrex.

in #hive-1679229 months ago (edited)

SBD is back to $1 as intended. Also, with Steem's price appreciation, as debt fall below 10%, creators are getting paid in SBD, Steem and SP. Hopefully, if BTC's bullishness and altcoin's strength keeps continuing, then SBD may maintain its peg at $1.

In the meantime, if you have noticed that in last couple of weeks, Steem was ranked higher than its brethren coin, Bitshares (BTS). However, BTS suddenly got pumped and overtaken Steem in the ranking at CMC (BTS at 71 and Steem at 78). I was not sure what was news behind it. It seems that it could be due to recent addition of BTS's stable coin pair at Binance.

Steem needs such stable coin pair in top exchanges such as Binance or Bittrex.

However, it seems like STINC lacks human power to liaison with exchanges. Even coins with much smaller marketcap have lots of fiat pairs in Binance or Bittrex, and even some are listed in Coinbase. It is mainly due to efforts from their developers and foundations.

Since when ones contact an exchange for addition, they will immediately ask either they are top developers of the coin or foundation members. I know many community members asked exchanges and shot back with such questions. In some cases, exchanges may ask for listing fee.

BTS_USDT_pump.png

The recent article from @jrcornel has opined the idea that Steem needs to be added as many as exchanges possible or it will suffer in the next bull run. And, there is a healthy discussion among the community leaders and members in the comment sections.

One idea is proposed by the community leader @theycallmedan is to make a forum with focus to pursue such goals. Steem being a decentralized cryptocurrency, there is no CEO. Does Bitcoin have a CEO? Any witness can perform the duty of a top developer. He proposed to form a discord channel to continue this discussion. However, STINC needs to provide at least one liaison member to co-ordinate such efforts.

Another idea proposed by the witness @thecryptodrive to wait until SMT release since exchanges will struggle with updates and even de-list Steem if support is not provided in timely fashion.

Steem's one of the biggest weakness is definitely, it is not traded against many stable coin pairs and not listed in large number of exchanges. Imagine that Steem has a stable coin pair in Binance and can be purchased from Coinbase, then it would easily rank top 50 coins and would have at least $100M marketcap.

However, recent efforts from @theycallmedan, @thecryptodrive, @pennsif, @jrcornel and other community leaders, it may become reality that Steem may someday will have stable coin pairs in Binance and even be listed in Coinbase. Moreover, SPS can help to secure listing fee for the exchange addition.

I also always wonder why not someone with deep pocket buy $10M worth of Steem since Steem is so undervalued and spend $1M in marketing (e.g. exchange addition, celebrity endorsement etc.). As a result, his stash could be $100M in no time considering the higher marketcap of ETH, EOS or TRON.

For example, investors like Winklevoss twins (early BTC investor), Roger Ver (BCH coordinator and has Steemit account), even Charlie Shrem (former Bitcoin foundation member and was a Steem witness) or early BTC/ETH/XRP whales can take stake in Steem. They should have understand the opportunity being early adopters in Steem. Steem is banging all cylinders as a successful blockchain but (big) investors are just ignoring it or are not aware of it.

I hope SPS will come out. Hopefully, it will be more like DASH's Proposal System which helped DASH to promote a lot to achieve wide recognition.

Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions. This opinion is only for educational purpose.

Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.

Thanks for reading.
@dtrade
Cryptominer , occasional trader and tech blogger since 2013

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SBD is a little below $1 but it does appear to be heading towards $1 and has hit it.
https://coinmarketcap.com/currencies/steem-dollars/historical-data/

It is interesting to see this point of view and bring Steem toward more trading exchange and with stablecoins pair!

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