Bullish on "STEEM"? Well, Now's the Time to Be...
Sick of all those posts droning on about how great the STEEM blockchain is? No, neither am I. And especially when it is backed up by solid facts. Yesterday Electic Capital released a report detailing the active developers in the crypto space based on a six month period from the beginning of the year. Well, as you can see on the chart, EOS stole the show in first place, followed up by Cardano, Monero, Stellar and... STEEM! Yep, a pretty positive sign indeed for our blockchain, but it gets better still...
Most of those named coins are high ranking crypto projects in terms of "marketcap". All expect STEEM. I mean, Cardano comes in at position 12 and a total capitalization of just over $1.3 billion. Same with Monero and Stellar which come in at 10 and 11 respecticely. And of course STEEM's big brother being position 8 and just shy of $3.5 billion in total.
And then we have STEEM. Currently ranked 77 and a marketcap of a mere $64 million. Simple to see something doesn't look right. A few people consider STEEM as being a highly undervalued coin and I must admit that could very well be the case, looking at the aforementioned info. "When" the next altcoin season kicks in, many think it will be very different from the first one back in 2017. Selected alts based on variables such as use-case, developer interest and community strength, will play a hugely important role this time around. Statistics that will allow STEEM to shine compared to the majority of it's counterparts.
So could STEEM be a hidden gem? Absolutely. Add to that the fact that most external crypto communities "still" consider STEEM and Steemit as one and the same, it goes to show education may be a critical factor holding us back. However it is also a most welcome problem being that this is something we can actually actively "do" something about changing as opposed to any other significant technical limitations we could have with the blockchain itself. No, all signs point to an undiscovered or simply misunderstood crypto currency project in the making.
Time will reveal all, I guess. But one has to use logic and common sense when scrutinizing this market space. And from my standpoint, all we're missing now is the price pump. Everything else looks extraordinarily good, all things considered. I'm quite bullish on STEEM, substancially more so when looking at it on a longer term timeframe. Therefore to all those naysayers out there, don't count us out just yet. Our story is far from finished...
