Last time as one the beneficiaries large airdropped LEO have almost halted LEO's upward momentum. LEO went from 0.22 Steem to 0.108 Steem. Due to quick buying spree from the investors, LEO recovered quickly.
Moreover, on the announcement of SteemLeoDex LEO had a big positive spike initiated by a community member. LEO was trading between 0.18 and 0.205 Steem.
Since LEO's powered down is executed in four installments, yesterday LEO had 12K dumped from the couple of members. Interestingly, this time LEO held strong. Few investors and traders also got their desired LEO at a deal price.
Their will be another big dump in the next. I saw that one trader have miscalculated the buy orders and missed opportunity to catch some LEO. It means that getting cheap LEO has become competitive.
Looking into the pending unstake, the future sell pressure will diminish very shortly. Moreover, LEO is not seeing any sell wall below 0.205. It means that someone who wants to get LEO, either somebody has to be willing dump LEO in big numbers or he/she has to buy upwardly.
Overall, at current scenarios, given the number of sinks, @steem.leo economics is working. It is quite possible to see a big upward trend in near future due to less unstakers, buyout from sinks and more demand from investors.
However, LEO to see a super success it has to see outward. SMT may help! A switch to SMT or SMT-pegged LEO can help it to be enlisted bigger exchanges against fiat pairs. Then LEO will see lots of organic demand.
Moreover, being on sidechain, @steem.leo has inherent slowness. To be competitive in the world stage with leaders like SeekingAlpha, MarketWatch or Investopedia, SteemLeo may need to have own node or move to SMT, or upgraded sidechain.
On the other hand, Steem is struggling in recovery due to branding and exchange issues. For thought, I would ask to look at 0x, ABBCcoin or Nano or Dogecoin. These coins have little to no use, but excelling due to having better volumes or more number of exchanges. Steem may need market maker bots to be run exchanges to provide liquidity for better volumes. Buying Steem with fiat still a hassle.
STINC may be busy with SMT. But if they can't pursue proper rebranding and list steem in large number of exchanges (e.g. Coinbase, OKex, Bitfinex, DigiFinex), then Steem may continue to struggle.
Steem also has other structural issues: higher inflation rate (i.e. decease Steem for rewardpool to SMTs ), 13 weeks powerdown (i.e. 5 days), bad user experience (i.e. community), complex onboarding (i.e. long delays and fee) and misinformation about Steem in public space.
Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.
Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.
Thanks for reading.
@dtrade
Cryptominer , occasional trader and tech blogger since 2013
It is no secret why Steemleo is one of the best tribes on Steem. The plan that is in place keeps expanding to the benefit of the token. I am buying when I can and keep staking it all. There is no reason to give up on this one in my opinion.
I am still optimistic about Steem yet am uber optimistic about Steemleo. This sucker is going to run in a big way. There are still challenges ahead. The key to this is the fact there are so many sinks being constructed. This will only make the token a great deal more valuable.
I'm "optimistic" that Steemit's reward pool protection program will continue and even less users will be using Steemit.com.
People do seem slow to adopt to steemleo.com which is nice for people like you and me that were able to acquire some.
Steemit.com is seeing its users drop as more options become available. That is a very good thing in my opinion as more interfaces only decentralize the entire process even more.
As more communities or tribes come online, it will only push things out further. This provides, as you aptly stated, opportunities for those such as us, who are using another platform to post and accumulating those tokens.
I have written on a number of occasions that smaller accounts should not focus as much on STEEM but, rather, put their efforts into a tribe. Become someone on there and what the account grow.
I think the numbers sucked even before the new options but yeah they should be dropping even more.
It will be interesting to see which platform takes the lead. I am also bullish that Steemleo will be the lead platform.
It seems like all accounts should move towards Steemleo which is on an uptrend. I haven't reallly seen Steemit.com go anywhere but down since I've been on the platform and it only seems to care about rewards pool protection even if it means abuse of it's users and a major reduction of it's user base and also reduction in the price of Steem. On the bright side Steemleo.com leadership does seem to care about it's users and also the value of it's token which I expect to rise considerably in the near future.
You trace this events so nicely :)
The last dump and fast absorbing from the community is another bullish sign.
People are not afraid bit eager to get some more.
Interesting times ahead, and with more development coming up and announcments, it will be even more interesting.
Thanks, yes, interesting time ahead ;)
Sounds like an awesome guy!
Yeah thanks for the sale. :) I think you did buy a little bit from me.
I think it might be a lot harder to buy from me and others in the future.
Every time I have tried to really trade Leo @diverse seems to buy me out and then I panic that I won't be able to get it back. lol
I still haven't figured out how I F'd up! :( lol
I guess I'll have to bid high this last round.
I think getting cheap Leo is about to be damn near impossible. lol
"It means that someone who wants to get LEO, either somebody has to be willing dump LEO in big numbers or he/she has to buy upwardly."
Yep! A lot of spiking potential.
I think a strong upward trend in near future is very likely.
Leo might not even need to be an SMT to skyrocket in value.
If it moons then maybe we could just "break away" from the Steem blockchain and list that way.
I have noticed some issues with this platform but the issues are worth dealing with. lol
I think Steem is struggling thanks to Steemit Inc's "Leadership".
Yeah bad user experience like premium users like me being blacklisted and censored. :( I'll be glad when most of my Steem is converted to Leo and maybe even some other tokens.
"occasional trader"???
You sure seemed pretty frequent when we we doing some Leo bidding wars. lol
I usually buy some LEO daily basis and stake. However, I sold few hundreds LEO to build a buy wall of around 1220 LEO to protect buy side which luckily filled out ;)
in last dump
I thought I saw a small sale or two from you for once. lol
I'd like to do some short selling but I'll probably wait till the last minute to maybe try and get a deal.
Did all of your buy orders get filled? I don't think the big buy at .16 ever got touched. I had calculated that it was going to hit .16 but I guess I was wrong. Most of my orders got filled I think so I did OK.
Good luck with your dollar cost averaging or whatever after the last sale. It seems like everyone is trying to do that but I'll probably just do price spiking and it seems like I'm like the only "real" potential seller although I don't even have a week's worth of supply. lol
Yes, it filled. I am making strategy for next big dump of around 12-14K ;)
Are you sure it is that much?
I'm going to plan for 7500.
Be careful if you try and short sell. I tried a little bit of that today and the bid went right back up after I took it out.
I guess .19 will be support very quickly after the final dump.
It is just a rough guess seeing through the unstakes: @drakos 7.5K, @drumpoperator 2.5K, and others 2.5K.
I don't have plan for short sell but my regular buy orders will be limit orders rather than market orders to catch the dump for next few days.
Thank you for posting from the https://steemleo.com interface 🦁
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