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It amazes me that Steem is retaining any value given that it can be taken away at Justin's whim. I guess he may be propping it up. Splinterlands are moving to Hive next week. That will dent the credibility of Steem. Mind you, I want to buy as much Hive with my Steem as I can.

Its just TA traders, they don't look at any underlying fundamentals much, just make the charts go up & down ;)