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RE: Could The Jump in SBD to $15USD Have Been Caused By Fear About Value of Steem?
SBD is designed to be pegged to $1 for easy ecommerce pricing. But the cool thing is that it doesn’t have a cap. This meant it was able to pump to $15 on pure speculation. It’s a low market cap coin that just enjoyed the huge push of speculative money (especially from Korea) that we saw across all the market. It was just highlighted because the numbers meant it could be easily pumped.
But now we’re back below $1, the peg kicks in again. We’re now seeing price stable around $1 as it’s designed to be.
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That was what I thought originally when it started, but then the price rise lasted for 2 months or so, so I figured it wasn't exactly a typical pump/dump pattern.
pump and dumps can be any length depending on the size of the holdings in comparison to supply with the ones who commit