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RE: STEEM price falling by 8% per day, barely remains in the top 100
0.165 USD today, down another 10% since I wrote this post a few days ago. : (
If STEEM was 50 times more valuable, it would almost be the price it was at the top (early 2018). It has fallen to less than 2% of its value in 18 months.
Steem is fallimg more than other coins because the devs at steem inc keep selling. They get paid in steem and sell to live their expensive lifestyles. Other projects devs are doing the opposite right now.
Well it's hard to have any faith in a currency or blockchain if the original users and insiders are bailing out!
When steem incs holdings shrinks enough than the sell pressure will stop.