Direct from the desk of Dane Williams, This is not your average forex broker blog.

I trust that you're enjoying your weekend in self-isolation, but for those of you looking for a weekend markets fix, we always have crypto.

If you're like me and in the midst of a STEEEM power-down to transfer your original STEEM stake to HIVE, you'll be interested in the following charts.

HIVE/USD Daily:

STEEM/USD Daily:

I've cleared the pre-fork price action from STEEM, just to focus your attention on how price has traded since the split.

You can see that price action up until last week more or less mirrored one another, with HIVE settling around 30% higher than it's older sister.

But then out of the blue, we saw STEEM pump exactly that 30%, to trade even with the price of HIVE.

Coincidence?

Of course not. There's no such thing as a coincidence in markets.

This is our old friend Justin Sun propping up the STEEM price and literally burning his own money in order to create an artificial floor to be even with HIVE.

Artificial price floors are ALWAYS broken and this is of course no different.

We might see the odd pump from time to time, but I think it's clear where the fundamental value sits when it comes to HIVE and STEEM.

With HIVE.

If you're powering down and looking to transfer your stake between STEEM and HIVE, then take the money as close to 1:1 while it's on offer.

Best of probabilities to you,

Dane.

Return from STEEM's Artificial Price Floor - Take Advantage of it Now to forexbrokr's Web3 Blog