Here's a screenshot of coinmarketcap.com when 2017 began... January 3, 2017.
Bitcoin had a great start this year. At midnight (UTC) on January 1st Bitcoin's year began at $967 USD. It surged to a high of $1,166 in just 4 days, but dropped to $735 on January 12. What a roller coaster! This drop to $735 was the lowest price to buy in this year.
Ethereum started the year at $8.04 and is today being traded for $323. Wow!
But notice Steem! We started this year at rank #10 at a price of just below $0.16. One Steem is now worth $0.95, but we have dropped to rank 30 based on market capitalization :( If we can manage to rise back to #10 our market capitalization would be about $1.700.000.000 which results in a Steem price of $6.53!!
Today
Here is the top 10 (+ Steem) on coinmarketcap.com of today to compare.
I honestly do not really mind where steem is at... I write blogs and comments and when I get some votes I am happy about that. Since I am not really planning on taking steem out of the system the price going up is not really a big issue to me
And since I am slowly buying some steem on bittrex I actually like it being this low. This is a long term thing and anyone cashing out money that they do not need for their daily survival is not making the best move but thats just my opinion
In the mean time, for all non believers, please sell your steem and sell it low... thanks
I totally agree. As bad as it might sound, I would love to see steem drop to 50 cents so I could scoop up a lot for cheap
i think 50 ct would be to much to ask for
I guess only time will tell. If i told you at this time last year that bitcoin would be $8000, you would've thought I was crazy
Agree :-)
It will get back there too!
I agree with you, altought it might take some time, it will!
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I wonder how Amazon, PayPal and eBay ranked among DotCom valuations in January 2000? Steem is down at #30 despite being consistently #1 in transactions per day since June. Loads of those top cryptos are completely dead in terms of community activity, and especially transaction volume.
Trading volume of steem is low 1-2 mill every day, there is also more selling pressure than buying pressure. When everyone is earning and selling steem and there are not that many investors you get those results. In top 30 Steem has the lowest volume. When network starts accepting more people in the future those numbers might rise, until then we may go to #50 and 50' cents per steem range.
Isn't it weird that the top metrics used in crypto space are market cap and trade volume? Pets.com had plenty of buying pressure, it didn't make it sound. Many of the real businesses that came out of DotCom bubble didn't even do an early IPO.
It is a weird science, sometimes it makes no sense. Some coins in top 30 are valued at billion dollars with nothing to show off. And yes steem has the most transactions, and not enough buyers atm. No real critical growth is the reason we are stagnating. And it is a damn sure that we are not ready for more than million users per day. Curating those numbers would be a nightmare without community feature.
I think the same. The price of steem must be low for mass adoption. I wonder how the price might change when APPICS (i.e. the first SMT) will be released !
Steem is an amazing project, will be successful in the long run, we are just in its infancy, as concerns the price though I don’t think it will go much higher, keep in mind that the total supply increases over the years, this leads to inflation. Best thing to do is to hodl SP which gives you more voting power and SBD to the community
Indeed, Steemit / Steem is a great project, with massive potential, and the future looks very bright.
Even if Steem is inflationary, any inflation will not be at the whim of a bird-barined central banker at the control of the money-printing press (as most inflation is). Since Steem is created by the network in order to reward contributions, I believe its value will be closely related to the overall value of the network / platform.
Given the growth of the internet, of companies such as Amazon and Google, and of Bitcoin and Ethereum, let's assume that Steemit experiences similar growth over the coming few years.
While such growth may not result in a Steem price of, say, $100 or even $1,000, it may conceivably result in the creation of many more Steem tokens. So, instead of getting 100 Steem (@, say the current $1.00) for a great post of quality content, a Steemian might earn 1,000 Steem, for the same post. Or maybe more.
(Just something to consider. If this post shows my utter lack of understanding of the finer points of the Steemit reward system, please enlighten me.)
Most of the top currencies (e.g. BTC, LTC, ETH) are inflationary for the time being. It takes $2.2M daily to keep LTC at current price (more info: https://steemit.com/steem/@penguinpablo/putting-the-steem-inflation-into-perspective). If the network grows at better space than the STEEM inflation, its price will increase. STEEM needs better distribution (e.g. distribution among large number of HODLERs) which takes some time (e.g. LTC peaked at $48 in December 2013, down to $1.1 in January 2015 and now back to $65, between $48-$1.1-$65 it got distributed, it is still inflationary). However, trading volume (e.g. speculation and marketing) keeps price inflating in short term rather than fundamentals (e.g. BitConnect).
But at the same time everyday new people are coming in with a lot of valuable contributions and those who just want to invest into the ecosystem. Additionally every month new startups are coming in and want to adopt SMT´s. There is a lot going on in the Steem ecosystem. The future is bright.
Steem will make it once the platform really takes off. Hardfork 20 is needed for that, but it looks like they just started working on that. I can wait
Most of the new top 30 coins are ETH competitors ( e.g. smart contract) such as NEO, NEM, Lisk or BTC competitors (e.g. currency) LTC, XMR, DASH, IOTA. STEEM contends to be both, it is already the most successful currency in terms of transactions (e.g. higher no. of transactions than BTC and ETH combined: www.blocktivity.info). With SMT lunch, it will contend for smart contract too. It is a hidden gem. It needs some serious marketing (e.g. @jerrybanfield's budget proposal), better distribution (e.g. some whales are cashing out- good for long term) and more time (e.g. it is just 1.5 years old) to back in TOP 10 even TOP 5.
It will get back there
great to see .. thanks for the update... this is not spam.. I just don't have a lot to say at this moment.. I do appreciate all you do for us @penguinpablo especially with steemnow.com , I usually look at that site on a daily basis.. many times I see your posts because of it too. 🚀
That's good to know for perspective. STEEM will definitely rise in the coming months. We can be patient as further developments unfold. When people look back, they will be wishing they bought more when it was under $1!
So STEEM is up 6 times this year yet people are complaining that the price isnt doing anything?
Sure it is in a trading range the last few months but this is incredible growth in 11 months.
STEEM will be heading higher.
Go steem !!!
img credz: pixabay.com
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It will get back there very very soon!
Go Go...Go Johnny GO GO GO
Steem will be the top 3 before 2018
I hope so. I have thousands of steem. But till now i am facing losses in it. But as you said "Steem will be the top 3 before 2018" so i am hoping too. @gauravgpt60
Bravo, Steem! I know, this is the best cryptocurrency, and hope it will rise again up to 2 or 2.5 in some time!
We need to bring our friends here
wow it's keeping up!
I wish lot more will contribute to steemit!
Yes keeping up but little slowly. I wish it go up fast. Well wishes. follow @gauravgpt60 for predictions
That will be very enticing!
It will get back there too!
And your post is very great post.
I like it!
Very good post . I like how you see it :)
thanks for your hard work ,sir ! useful data .
Wish it gets to Top 5 next year.
valuable information dear friend @penguinpablo, thank you very much for sharing your thoughts and observations.
undoubtedly steem is a great circlomoneda, with a great future, if there is ability to save is a good time to make a large investment in the long and medium term.
I wish you great day
Steem is awesome, It will only go up!
I hope for a beautiful super slow rise. Benefits all users I believe, I think when Steem price gets so high or inflated, but then people are in that mindset of how much their posts are "worth", I think we could lose bloggers that way. I have no analytics to back up this theory.
Nice blog.
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Nice post