Steem is on the 6th spot ahead of Bitcoin in a list compiled by the Chinese, their technological supremacy couldn't be understated in the present world. China is considered to be one of the most important players in the cryptocurrency market as well so its a key victory for Steem to be accessed and ranked that high despite its failing price.
The recent speech by President Xi Jinping which praises the disruptive power of the Blockchain had somewhat revive more interest in Crypto. If China with all its ban on crypto could have a change of mind, then mass adoption is around the corner.
President Xi's speech also had effect on Steem CCID Blockchain Assessment Index rankings as it rose 4 spots higher to occupy the 6th spot despite SMT's not launched yet. This ranking is significant as it brings in more investors and more dapps to be developed on the Steem Chain.
On Price
Chances are high in terms of a price revival, Steem price is going south of Bitcoin present price movement and its a bit of a concerned large stakeholders and smaller ones. The recent ranking and present Chinese increased interest and aim to create a state back Token of its own could be a positive sign for Steem and other tokens.
Strange, but the decisions of the US and Chinese governments affect the entire Crypto space, cryptocurrencies and Bitcoin are still in a precarious position in terms of regulations in most countries as well as these two super powers. Hopefully this is a sign for Steem , a light at the end of the tunnel.