There's something going on in the internal market too, not only in the South Korean exchange Upbit. These are the buy orders for STEEM stacking up on the internal market:
Responsible for this huge green pressure is a single buy order for STEEM, in which more than 57,000 STEEM are to be bought for more than 44,000 SBD, which will drive to price to 0.7745.
The value in fiat for this order is more than $300,000!
That's one hell of a bet for STEEM!
Later edit: to put these numbers in context: the entire 24 hours volume on the internal market is less than $10,000!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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That makes me very happy! Thank you for sharing this with us. It is a good time to be a Steemian. We'll look back on this time and laugh that we got ecxited though because it was just the beginning.
Woah, that's huge. Hopefully we'll be seeing a lot more of this
Wow, looks like @freedom is stocking up even more. Wonder what it feels like to have that much money to throw around.
https://steemd.com/tx/33bf2a51ace9f3dd8ff9b0ded50666c412a6f4cb
@freedom is also the one handpicking the top 19 witnesses. If you don't have his vote, it's basically impossible to get there. Thanks for digging this up :)
How did you find out it was @freedom?
Little SQL query.
300K shot is a strong one shot! something interesting is approaching!
Holy shot.. is that the reason the the internal market Price dropped ?
most likely
This is interesting, I wonder who owns so much SBD? I understand that somebody wants to do this trade after the recent price increase though...
it's @freedom, a long standing Steemit whale...
Thank you for this info. Is this public info you can see anywhere?
Yes, all transactions on Steemit are public, you just need to know where you search. Here's the link posted by @maxg earlier: https://steemd.com/tx/33bf2a51ace9f3dd8ff9b0ded50666c412a6f4cb
I thought, the first moment I saw the chart, that there was all buyers and no sellers, but actually, as you pointed out the whole scale has been shifted.
The little line on the right is normal height.
the perfect image for "stepping up the game" :)
This looks really interesting...may be this will drive Steem price above $6...
Is this part of the play? Pump SBD because it's far easier, break the SBD/Steem correlation, jump into Steem and let the momentum of the trade itself pump Steem until the ratio improves and then dump Steem for fiat? It seems almost too simple to be true, but we've seen lazier games be played on the market so...
SBD seems to be the "lens" which "magnifies" the value of STEEM in this game...
Absolutely. It's the kindling for the fire and they sell off before it burns down. Let's hope we aren't left with coals when they decide to move on to another game. And I wish my upvotes could generate more KRW for you!
read my last post about South Korean (Interest by region) and You get answer
I just looked at the Upbit volumes in this post: https://steemit.com/steem/@dragosroua/there-s-something-very-strange-happening-with-steem-and-sbd-in-the-south-korean-exchange-upbit - but that's Upbit only, internal market wasn't very used until now, that buy wall is something new...
last week #3, now #2 https://trends.google.com/trends/explore?q=steemit
I just noticed that. It makes the sellers look really small. lol
Orders are public. One could look it up on the blockchain, who did such an order. Just go block by block and look for those numbers. Start with yesterday.
That should be easy to find out.
But I am currently on mobile:(
somebody already found it :) it's @freedom
Yes, I am slow poke :)
Didn't look through all links in the comments yet.. Was embarrassing when realising that someone did post this 50 minutes ago😌
That's a heck-of-a trade, and a huge bullish bet on the Steem blockchain by someone who we can only guess has what would be considered "insider" information in traditional markets. Of course we don't really know who @freedom is, so maybe they are just increasingly bullish without any reason other than their own optimism.
Compared to the volume on internal market that order is just... huge! Why is this happening, what are the effects of this? Will the price of SBD collapse compared to Steem? I feel confused.
Thanks for the heads up. Do you think it could be an arbitrage play against the price rise on the external markets like Upbit?
Maybe someone realised they made a big mistake buying all that SBD and need to undo the mistake! LOL
that's the wall trump want's to build hahah interesting chart to see :D
Shit man, something big is happening. And I heard steem is expanding their marketing budget for new year. These are great news.
This is interesting. Big players like this are what we need to really move us forward. Thanks for the information.
Hope it's not for a steem pay bot for rapid ROI :D
Wow impressive! Thanks for pointing that out. I’m a wee trader but was happy to see it drop in the .70s... after it went over 1.0! Glad to see this huge interest in steem :D!!
I guess the SBD price pump is nearing again.
As always i think buying Steem and powering up it is better investment for the future, i think this wall it is a reflection of this.
Wow. This big order can move the market in a big way! Then the price of steem will rise with respect to the sbd.
I guess there are a couple of users who buy steem power.
I saw some users doing this for self-voting !
Woah, that's huge. Hopefully we'll be seeing a lot more of this
Impressive as wow this is very interesting cool wall has been made haahha
just saw the internal market in curiosity and the same the same wall is still there
it will stay like this and steem will be up soon