Long story short: There is a very short supply of SBDs and someone who really wanted a lot of SBDs for, something, decided to buy a lot. It makes zero sense except for the fact that someone needs a lot of SBDs.
I've seen people suggest that new Korean investors might be part of the equation, as well as the controversy surrounding Tether. Going forward though, once it gets back down to a dollar, assuming it does, I will be keeping a bit aside in case history repeats.
Yes, Korea is the main explanation.
It will be interesting to see how it plays out, if people start hoarding their SBDs once it gets back towards 1 USD, the already scarce supply might mean less people selling rewards -> Lower sell pressure on STEEM -> price crawling up slowly and steadily.
Long story short: There is a very short supply of SBDs and someone who really wanted a lot of SBDs for, something, decided to buy a lot. It makes zero sense except for the fact that someone needs a lot of SBDs.
I've seen people suggest that new Korean investors might be part of the equation, as well as the controversy surrounding Tether. Going forward though, once it gets back down to a dollar, assuming it does, I will be keeping a bit aside in case history repeats.
Yes, Korea is the main explanation.
It will be interesting to see how it plays out, if people start hoarding their SBDs once it gets back towards 1 USD, the already scarce supply might mean less people selling rewards -> Lower sell pressure on STEEM -> price crawling up slowly and steadily.
Time will tell :)