Steem Price Mounts 50% Rally After Ratings Firm Issues Bullish Grade

The Steem price was up 50% after market research company Weiss Ratings awarded Steem a rating of B, making it one of five cryptocurrencies to score above C + and rank before Bitcoin.

Steem Price Rises 50 Percent Rally
Steem, the social media platform founded by serial entrepreneur Dan Larimer, had a relatively calm year in 2017. Like most cryptocurrencies, Steem enjoyed significant appreciation throughout the year, but remained well below the fourth quarter. , It is.

In the last month of the year, the Steem price jumped from $ 1 on December 1 to a new record high of $ 7.31 on January 3, driven in large part by a large volume of transactions in Korea. South. The rally was as unsustainable as it was unbelievable, and on January 17 the Steem price had dropped to $ 2.89.

This week, however, the Steem price has picked up, and on Thursday, it rose 50% in 24 hours to $ 6.51 on Bittrex, giving it a market capitalization of $ 1.6 billion.

Un facteur quelque peu inquiétant est que plus de 87% du volume de transactions quotidiennes de Steem est concentré sur une plate-forme de trading unique: l'échange de crypto-monnaie sud-coréen Upbit. Bien que l'on ne veuille jamais voir le volume des transactions centralisé sur une seule bourse ou sur un seul marché, c'est particulièrement vrai en Corée du Sud, étant donné que les régulateurs ont hésité face aux marchés en plein essor de la cryptomonnaie.

Steem Price Surges After Weiss Gives Bullish Rating
The Steem price’s current rally appears to be linked to the publication of the “Weiss Report.” Earlier this week, Weiss Ratings released its cryptocurrency grades, which it says are the first ever given by a rating agency. The ratings, which quickly leaked online, have been widely panned by cryptocurrency insiders.

Bitcoin, for instance, received just a C+, leading Charles Hoskinson — a co-founder of both Ethereum and Cardano — to say that the report has “some screws loose.”

Mais ridiculement ridicule, il s'est avéré être haussier pour Steem, qui était l'une des cinq cryptocurrencies pour recevoir une note de classe B. De ce groupe exclusif - qui comprenait également Ethereum, Cardano, EOS et NEO - est la seule crypto-monnaie qui ne soit pas actuellement l'une des 10 cryptomonnaies les plus importantes, évalué par la capitalisation boursière.

Par conséquent, les notes de Weiss ont fourni une exposition moyenne et ont donné l'impression d'être sous-évaluées, ce qui a provoqué une hausse sous le milieu de semaine.