Hmm...........It is more complex. PAL dropped from ATH of 0.78 Steem to 0.11 Steem. There is so much selling pressure that a whale (you can dig to know who is that whale) had to put a buy wall at 0.25 now at 0.11. Few speculators or traders buying around this price. It looks like large number of creators are selling at whatever price they can get, after all it is free token for them.
I have personally bought 4K PAL at 0.25 Steem on average. I have bought as low as 0.045 but as high as 0.45 too. I don't feel optimistic about PAL tribe due to the economics of it. There is no more incentive to have big stake other than to have big curation reward. But the moderators has large stakes that can eat out our rewards too and they will get large stake every year on month basis. There are very few sinks to hold price. If you observe the sell pressure from the last couple of days, then you can see large number of creators/traders just want to sell, it is very disappointment for me, as a PAL holder.
Similar story can happen to other tribes too. The tribe without many sinks and sustainable business plan (e.g. buyback with Ad profit, consultancy, distribution) cannot hold the sell pressure, since most will dump them at whatever price since it is basically free by just adding tags.
For trading to increase Steem is a very risky game. It is very hard to time it such as buying at 3K PAL at 0.2 Steem then sell it at 0.4 Steem. If you power them up for curation reward, you may miss the pump all together.
Now if someone buy at 0.115 can he/she sell at 0.23 Steem in future, who knows.
@chesatochi, thank you for sharing your thoughts in the video. I always keep some amount of liquid STEEM in order to be able to buy another tokens if a good opportunity pops up.
Hmm...........It is more complex. PAL dropped from ATH of 0.78 Steem to 0.11 Steem. There is so much selling pressure that a whale (you can dig to know who is that whale) had to put a buy wall at 0.25 now at 0.11. Few speculators or traders buying around this price. It looks like large number of creators are selling at whatever price they can get, after all it is free token for them.
I have personally bought 4K PAL at 0.25 Steem on average. I have bought as low as 0.045 but as high as 0.45 too. I don't feel optimistic about PAL tribe due to the economics of it. There is no more incentive to have big stake other than to have big curation reward. But the moderators has large stakes that can eat out our rewards too and they will get large stake every year on month basis. There are very few sinks to hold price. If you observe the sell pressure from the last couple of days, then you can see large number of creators/traders just want to sell, it is very disappointment for me, as a PAL holder.
Similar story can happen to other tribes too. The tribe without many sinks and sustainable business plan (e.g. buyback with Ad profit, consultancy, distribution) cannot hold the sell pressure, since most will dump them at whatever price since it is basically free by just adding tags.
For trading to increase Steem is a very risky game. It is very hard to time it such as buying at 3K PAL at 0.2 Steem then sell it at 0.4 Steem. If you power them up for curation reward, you may miss the pump all together.
Now if someone buy at 0.115 can he/she sell at 0.23 Steem in future, who knows.
At least, I believe SteemLeo is well-positioned to increase in value over time.
@chesatochi, thank you for sharing your thoughts in the video. I always keep some amount of liquid STEEM in order to be able to buy another tokens if a good opportunity pops up.