Whatever the reason, someone(s) dropped $20,000,000 into Steem in the last 24 hours, making it the top gainer percentage wise on Coin Marketcap by a LONG ways.
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If $20M was dumped into Steem it would x10+. Less than $1M was actually bought. Our market cap is very thin and fickle. If someone decided they want to buy a million Steem right now that would double the perceived market cap. That would cost less than $350,000.
Makes sense, also, if people were fleeing EOS for Steem, EOS would have dropped lower than a slight 4% correction.
Not really. Like he just mentioned it would only take $1 million or so leaving, and EOS trades a lot more money per day on average so it takes a lot more than a couple million to drive prices down...