SBD pumping big time

Steem close in second on the Upbit market in trade percentage.

Upbit has a 24h trade volume of 4 billion Euro (~ 5 billion USD).

Screenshot taken at CoinMarketCap dot com.

Wazzup Coinmarketcap dot com!?

Still excluding some of the South Korean markets, which seems a kind of strange, to state the least. And for Steem {STM | Š | ♨} and Steem Backed Dollar {SBD | $} this seems quite unfair. When you look at the Bitcoin trading volume you can see it is at 15.6%. And SBD is at spot 9 with 2.86%, closely followed by Steem at spot eleven with 2.76%. Yes, I know, trading against the Korean Republic Won {KRW | ₩}. It seems though that South Korea is really embracing Blockchaint technology. Not a country to be ignored. Seems the FUD {Fear, Uncertanty and Doubt} that has been spread was only that. As South Korea shows signals that they are taking a lead position in making Cryptos mainstream. Steem being highly valued, in a way that is in line with what it can do.

CoinMarketCap dot com ignoring this very important Crypto market, when it comes to KRW trading is wrong, I think. It is not about a couple of grand. It creates more than 14% of the 24 hour total Crypto market trading volume. Still, they might consider a different way to include it. Even though it looks like the Crypto market now really is picking up again. Could be that the next jump up is close ahead soon. And even though the SBD amount has been doubled on the market it already surpassed Steem again in market price. To me the Upbit market is a kind of indicator for what seems to be comming. It would be unwise to ignore it. Still SBD is still backed by Steem, so a higher price for Steem Backed Dollar means less Steem will be available as they have to be in reserve. This could work out great for both.

Look at SBD, being the best performing Crypto at Upbit!

Screenshot taken at Upbit dot com.

Almost 37% gain for SBD, even when there are close to 7 million being issued. Yet, that is still way less than Bitcoin {BTC | Ƀ}, and it might be that it is what makes SBD interesting. Could Steem still be able to fully back it when it pumps to thousands of US Dollar in value? Only when Steem would go up in price too, but it could surely put a lot of pressure on it. Looking at the internal market SBD is already way more valuable than Steem. And I do wonder if this was forseen by the witnesses when they decided to issue about a 100% more SBD. What next, double it again? That could even create another run on SBD, making Steem more scarse too in the proces. It looks like it is quite a tough job to keep SBD pegged to the US Dollar. Maybe it should not be done at all. Or just guarantee the lowest price to be pegged to the value of 1 USD? Because it seems the Crypto market is really going for SBD and Steem too.

Now part of the effect can be seen for EOS too, the family member of Bitshares and Steem. It looks like the presentation in South Korea a while ago triggered a strong growing interest in the DPOS {Delegated Proof Of Stake} technology overall. With Steem being a proven Blockchain technology, very popular in the Korean Republic too. There is a huge Korean community at Steem, maybe even big and strong enough to make their own Steem fork. Already there is a SteemIt like interface to the Steem blockchain for the Korean members. Technology and innovation has been very important for the Korean Republic. With Korea picking up on DPOS blockchains technology like Bitshares, Steem and EOS is going to have a big impact on the overall Crypto market. At least that is how I see it. And even though I do not know the Korean language I still bookmark the Upbit website as I think it is almost like looking into a crystal ball. (And also they have I Tjing hexagrams in their flag, so if some know what TAO is, it is them.)

So, good news for Steem and its future? Yes, I think so, but just look at the last screenshot, and see how well Steem is also doing. But no matter what, remember to only invest in Cryptos what you are willing and abl;e to lose.

May the Cryptos be with us!

The future of Steem? Well, it keeps getting better!

Screenshot taken at Upbit dot com.