Ethereum is too much hot air, too vague a concept, and its first actual application crashed and burned very badly. So the value on it doesn't make sense at all. We will see, I guess. Steem will power up again soon I think, just not quite so vigorously as the first big rally. I am looking forward to when I have enough that I am powering up some of my rewards instead of cashing them out. But it's very handy that they get partially powered up automatically. Builds up a nice little nest egg, maybe for the first time in my life I will actually save some of my money. Imagine that! lol!
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The most plausible explanation seems to be the engagement of big institutional investors (super whales, unlike any other in the cryptosphere).
:D