SBD broke it's peg to the upside, could HBD be next?

LeoFinance
10 days ago
2 Min Read
347 Words

SBDs are currently trading at $1.50 and have been for a day or so now...

In what was all too common for STEEM investors back in the day, SBDs are trading north of a dollar and have been for the last day or so.

Often when this happened in the past it tended to pull the price of STEEM up as well.

People tended to sell all the SBD they held for STEEM on the internal market putting buy pressure on STEEM, pulling its price up as well.

The longer SBD stayed above $1 the more it worked to pull STEEM prices up.

Like I mentioned above, we are seeing the early makings of this right now:

image.png

(Source: https://steemworld.org/@steem)

Could HBD soon see something similar?

So far HBD is yet to see a similar type move as we are seeing in SBDs, but that doesn't mean there won't be one...

And that could be due to where the primary pump is taking place...

As you likely recall, many of these pumps originated on Asian Exchanges, specifically on Upbit.

Well, guess where it is happening again right now...

Upbit:

image.png

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

As you can see millions of dollars are flowing in to SBDs and pumping the price on Upbit, which is also pulling up the price on Bittrex.

Well, guess what Exchange HBDs are also traded on in Asia...

You guessed it, Upbit:

image.png

(Source: https://coinmarketcap.com/currencies/hive-dollar/)

HBDs are an even easier pump, in theory...

While there is no guarantee that HBDs will be pumped on Upbit, the incentive is certainly there.

Currently there is roughly 5.7 million SBDs in circulation and only 4.6 million HBS, which means that in theory it should be even easier to pump.

It would take less money flowing in to send the prices soaring.

Hopefully those doing the pumping on Upbit notice this at some point as I have long said the easiest and cheapest way to pump STEEM/HIVE is to pump SBD/HBD.

Here's to hoping we are next!

Stay informed my friends.

-Doc

Posted Using LeoFinance Beta