Extreme demand on Steem is currently raising the market asking price to new levels since the official start at the 4th of juli 2016. The popularity gain is so massive that there simply isn't enough Steem to meet demand it seems. At the moment of writing it is almost at 80 dollarcents. A rise of 400 percent in just a week...!
Now there will be a lot of Steemers who might be sorry they sold off right after they got payed the first time. But no worries, it seems like the best is yet to come. Allthough there is more competition at SteemIt, resulting in lower rewards, the overall value is going up and away. And it looks like Steem is getting more rare by the minute. Good news for those who still have some.
Now there is a lot of liquidity locked inside Steem Power, but this can only be powered down on a weekly basis. And even then per user only 1/104th part of their total Steem Power. Is one of those things that will keep Steem going. And no huge risc of crashing the intrensic value of it. Allthough now there might be a shortage in Steem, which could result in a funnyfarm situation where the price will rise to an alltime new high within hours. Minutes even?
Can Steem handle this enormous succes? Was this forseen to happen?
Exciting times anyhow and you are here to witness it.