Yeah, I does not really make any sense at first glance. However, SBD has a very limited supply, so the price was quickly raised when a few people started to buy it. Steem on the other hand has a much higher supply, so it's more difficult to quickly skyrocket like the SBD did. However, I don't really get why some traders began to buy a lot of SBD anyway.
Exactly the positive feedback loop of higher SBD price on the internal market on Steem then kept driving more buys and now that it is getting traded things are just crazy!
Yeah, I does not really make any sense at first glance. However, SBD has a very limited supply, so the price was quickly raised when a few people started to buy it. Steem on the other hand has a much higher supply, so it's more difficult to quickly skyrocket like the SBD did. However, I don't really get why some traders began to buy a lot of SBD anyway.
Exactly the positive feedback loop of higher SBD price on the internal market on Steem then kept driving more buys and now that it is getting traded things are just crazy!
With the USDT wallet getting hacked, I think traders looking to have an alternative started buying SBD.