At its peak, steemit reached an Alexa ranking of 495 or something. Price itself is marketing
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At its peak, steemit reached an Alexa ranking of 495 or something. Price itself is marketing
Posted Using LeoFinance Beta
It's a self fulfilling cycle. If you get the price higher you will get more users and more investors. To get a higher price you need more users and investors.
The trick is to break the negative cycle of people leaving and selling and get the positive one started. Raise the price by a few cents and some people will come back people will start buying. They will all add to the ranking and value of the site in analytics.
This will raise the price further and add to the ad revenue and external interest in the token. It's all about getting into a positive place and like you said, when steem was pushing over $5 there were so many people posting to earn that the site shot up to top 500 in the world. It's just a matter of how we can get there.