As the market turns red, Steem is in the green. Once again, the price of Steem has gone up. In spite of all of the drama surrounding Steem and Steemit, the price of Steem is up today. Could it be that any press is good press? I know we have some new exchanges adding Steem which is a good sign and long overdue. I am also seeing more mentions on Twitter than ever before. Whether this is a good thing or a bad thing remains to be seen, but the market seems to like it.
The price of Steem went up over 3% as most currencies remain in the red. Considering all of the drama surrounding Steem during the past week, I found the price increase encouraging. Many altcoins were down as much as 10% as Bitcoin prices continue to fall.
I’ve been promoting the Steem Blockchain for several years. As a result of that, I’m getting many questions from followers concerning the Steemit Tron controversy. I think this video with Steemit witness, Luke Stokes does a great job of explaining many aspects of Steemit and the latest news surrounding the purchase of Steemit by Justin Tron.
The interview covers many subjects including the fact that Steemit was purchased by Sun, but the Steem blockchain can not be purchased. The role of the witnesses in protecting the blockchain is also discussed.
Perhaps one of the best lessons of this entire experience is to get your crypto off of the exchanges. If you do not control your keys, you do not control your crypto.
Both Steem and Tron remain in the top ten of most active blockchains. Tron (TRX) is currently ranked number five and Steem is ranked number six. EOS remains in the number one spot. Bitcoin is now ranked number 9.
You can see the market caps of the most active blockchains in the graph shown below.
While the future path of Steemit remains somewhat uncertain, some facts are undeniable. The graph above shows Google Trends according to keyword during the past 90 days. This particular graph depicts the trends worldwide.
I entered the following keywords Steem, Tron, Steemit, and Justin Sun. As you can see both Steem and Steemit are almost flatlined. Tron, however is trending much higher. One could argue that Steemit is an active community and people do not need to Google it, but if growth is our goal we want to see Google Trends trending higher. I know many details need to be discussed, but I think we can all agree that Steemit and Steem will receive increased attention during the next few months due to the acquisition of Steemit by Justin Sun.
I hope this increased attention will include the many Steem projects such as Steemhunt, 3Speak, Steempress, Dtube, Splinterlands, Appics, Esteem, Busy and the communities that Steemit has spent years in developing. I also think it is a plus that many of the Tron dapps are gambling and gaming dapps much different from many of the Steemit projects. Steemit has many positives and now we have the spotlight to show the world. I’m sure I’ve left out many Steem projects. Please share your favorites in the comments.
The price of Steem jumped over 25% reaching a price of 29 cents. Steem Dollars also enjoyed a price increase of over 10% reaching a price of $1.08.
While it may be easy to dismiss this price increase as a simple Bull market following the price increase of Bitcoin, the price of Steem is actually increasing at a much faster pace than many of the top marketcap coins.
Are we just beginning to see the valuation of the potential of Smart Media Tokens?
Steem price jumped over 13% during the past 24 hours. The price of Steem rose to over 22 cents. The market overall enjoyed a bullish streak. EOS was up over 8%. Bitcoin broke the $10,000 barrier with a rise of over 4%. Cardano is also up over 4%. BAT which is used in the Brave Browser enjoyed an increase of over 14% reaching a price of over 29 cents.