Steem Price Catching A Bid!

in #steem6 years ago

The price of steem is popping on exchanges, although that may be mostly due to wallets being down.

The price of steem is finally trading for over a dollar on coinmarketcap:

(Source: https://coinmarketcap.com/currencies/steem/#charts)

This is the first time this has happened in quite some time.

Just about a month to be precise.

Though, it's not quite as good as it seems...

Looking a bit deeper we can see that steem is trading for quite a premium on the Huobi exchanges.

Take a look at this:

(Source: https://coinmarketcap.com/currencies/steem/#markets)

As you can see, prices are elevated significantly on the Huobi exchanges.

Which is causing the price listed on coinmarketcap to be quite a big higher than it is showing on many of the other popular exchanges.

However, the good news is that the price premium does seem to be pulling prices up at other US based exchanges as well.

Are steem wallets being disabled causing the price spike?

Yesterday I stumbled upon something that said most of the crypto wallets on exchanges for steem were down currently.

Whether that is true or not I have yet to confirm.

If it is it would mean that most of the price increase is likely "fake" and of not much benefit to current steem holders looking to make some trades.

Though it does seem blocktrades is still taking steem and sbd transfers, so there is at least one working exchange.

Has anyone tried using any of the above listed exchanges, specifically Huobi?

Are all the steem wallets disabled on all the exchanges currently?

Let me know in the comments below.

Stay informed my friends.

Image Source:

https://coinmarketcap.com/currencies/steem/#charts

Follow me: @jrcornel

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STEEM is getting great again

Let's make steem great again!

This is only the beginning ;) Give it a few years, and the $1 price will seem insanely low.

That sure would be nice wouldn't it?!

It's great to see it above the psychological $1 mark again! Let's hope it keeps at this level even when the exchanges open up deposits and withdrawals again.

Yep. Bittrex has been having a tough time cracking that $1 mark. Like to see that one over a dollar since that is one blocktrades likes to use a lot.

I think they are mostly disabled in anticipation of the Hard Fork 20 coming tomorrow which has received consensus. It is most likely a precautionary step as they prepare for wallet support post the Hard Fork. Great to see the pump though!

Yep, that is certainly the case. It will be interesting to see if they hold any of those gains once the wallets are enabled again.

Yep, you are probably right about that. It's been a long time now, but I have a vague recollection of most exchanges stopping deposits and withdrawals during the last ones as well.

Yes that is correct. Now the question is when will they come back online?

Yeah, that's the question. I have no idea. I would probably still wait a bit if I were an exchange, seeing as it seems likely that they would be affected by having too little RCs.

Correct. I believe that next wave of patches they are talking about implementing tonight should get all the exchanges up and running again. We will see how long they wait afterwards.

Yep, RCs seem to be in an OK place by now. Hopefully the exchanges bring STEEM back soon.

Yea, I saw a comment saying that exchanges may need to be delegated SP in order to perform transactions.

Yeah, that might have to happen, and that's very unfortunate in my opinion. I think it will be more difficult to get exchanges to be willing to trade STEEM if they have to pay a sum just to get started. But it's still early in the life of RCs; it could still change for the better once it stabilizes.

Go Steem Go Steem! 😬👍😬

To the moon! Actually I'd just like to see us get above water first, then we can start shooting for the trees, mountains, and sky!

On binance wallets are down since at least 5 days. Good thing is that I bought some steem when it was at 70cent there xD

Posted using Partiko Android

Yes, that may have been a very good buy. We will see what the prices do when the wallets are up and running again.

Deposited some fiat to exchange for some cheap Steem at 0.7, waited a few days to be credited. Aaaaaand it's gone.

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You may get your chance again coming up here. What exchange are you using?

Liquid, previously the Quoinex.

Interesting. I have never heard of that one. Where is it based?

Founded in Japan, they had feeless exchange in Singapore and I was their frequent customer. And they created the QASH if you ever heard of it.

https://www.liquid.com/company/

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Gotta like that. There is one here in the US that also does fee-less exchanges, Robinhood. Looking forward to trying that one out.

Yeah Robinhood is quite well known for the feeless structure, but they did support fiat/crypto pair at that point of time. I like the Liquid as they support my local fiat with BTC and being feeless at the same time.

Great news! Awesome return and Monday is looking sweet.

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Need some follow through now.

i think the wallets are just temporarily closed as HF 20 is coming down on steem blockchain. the exchanges are just being cautious in case of failure

I believe they don't work once the new code is live. They too must update their wallets.

Yep they are just waiting for some flaws to be ironed out

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The question now is, when do they come back online?

The fundamentals are surely looking good for STEEM.

There are also several signals in Technicals pointing towards a major bullish move.

To the left, there is weekly MACD just about to cross for a bullish signal.

To the right, there are 5 green daily candles. A phenomena that has not been seen in STEEM since April and a price of approx 4 dollars. Moreover, the MACD seems to be ready to cross 0 - also a bullish sign.

Snímek obrazovky 2018-09-24 v 21.04.58.png

That weekly MACD is looking rather nice for a move higher.

It sure is.

Steem In bittrex disabled since 1 week ago

Yes, I am hearing that as well. Have you checked any others?

Binance is disabled too. But i think this is going to get unlocked after Hardfork 20. It is most likely to prevent any problems while migrating to HF20.

Yes, that sounds like it is by design. It will be interesting to see what happens to prices once the wallets are working again.