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Introduction
With the latest spike in Steem/SBD, I thought it would be interesting to examine the trading volume of Steem, SBD and the largest cryptocurrencies. Although high trading volumes do not necessarily indicate market manipulation, the likelihood of organic trading at +3x the YTD average trading volumes in a single day are unlikely. In my analysis, days suspected of pump and dump schemes are identified by trading values over 3x the average daily value. As the market capitalization of SBD is significantly lower than Steem, it is more susceptible to manipulation. The most recent spike is, in my opinion, likely attributed to developing news on Steem exchange listings and not market manipulation.
Chart
Raw Data
References
https://coinmarketcap.com/currencies/bitcoin/historical-data/
https://coinmarketcap.com/currencies/ethereum/historical-data/
https://coinmarketcap.com/currencies/ripple/historical-data/
https://coinmarketcap.com/currencies/steem/historical-data/
https://coinmarketcap.com/currencies/steem-dollars/historical-data/
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