Posts about Steem
For those who don't know, Steemit is a Blockchain based blogging and social media website which rewards users with STEEM tokens for publishing and curating content. By voting on posts and comments, users decide the payout of these posts.
Doesn't this seem similar to r/cc and MOONS? Both r/cc and Steemit are social platforms, and MOONS and STEEM have similar functions. What I'm concerned about, though, is that STEEM's price history isn't great, and we could see a similar pattern with MOONS.
STEEM started at a price of $0.64 in Apr 2016 and quickly pumped up to ~$4 in Jul, before dumping to ~$0.15 in Nov. It saw a small pump in Jun 2017 to around $2, and a huge pump to $8.19 in Jan 2018. However, it slowly dumped to $0.20 a year later and is currently only worth $0.50. Even in the May 2021 crypto market bull run, it barely hit $1.
I suspect we might see a similar pattern with MOONS, where the price pumps for reasons like people expecting Mainnet, and eventually dumps without recovering. Of course, this is just my personal opinion. What are your thoughts?