You are viewing a single comment's thread from:
RE: Wtf ? Price of steem is 59 cents on here ? But 1.04 on coin market cap ?
It happened because the price a steemdollar is not $1.
Yesterday, SBD was up over $2 and some say spiked as high as $5.
It happened because the price a steemdollar is not $1.
Yesterday, SBD was up over $2 and some say spiked as high as $5.
Honestly prob not a good thing. If it can go higher it can go lower then dollar. But that explains it!
SBD is pegged to the US$ by an averaging mechanism. You can use steem (Not the internal market) to convert your SBD to steem, and it will destroy the SBD and create enough steem to match the 7 day average price. This does not stops spikes from happening, but it will on average, be about equivalent to a US$