Steemit (STEEM), the social media podium that is the brainchild of developer Dan Larimer and the sibling of EOS, has been the lone digital asset surviving the newest downturn. Costs have been in red color across the panel, and Bitcoin (BTC) rapidly slid back to the $8,800 array.
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Even EOS slid a little to $14.69 from crests above $15. The markets smashed coinciding with the news of OKEx suspending ERC-20 trading due to hackers violating smart contracts to generate more coins.
However, STEEM scaled another 29% in the last 24 hours hitting $4.28. This week, the asset has shoot 42%. Likewise, the social media platform is becoming more significant.
Steem Dollars (SBD), the asset that was thought to hit $1, has continued appreciating. The SBD resources added over 10% overnight to $3.64.
I noticed that too. This platform has alot of clanky cogs. Is this sustainable? Will a big competitor wipe it out? These are questions I find myself asking.
I think this too...
Seems to have a lot of issues and no solutions or improvements. I think the Steemit platform is sort of stagnant. Another competitor could come along and do it better and wipe it out.
It has challenges, but it's a great field, however for only those who understand how to excel on the platform. Patience is also needed brother!