Trading Recommendation:
Buy, broader crypto recovery starting
Investment Recommendation:
Buy, expecting to be much higher in 6 months!
Analyst Commentary:
The STEEM price rose 5.96% verse the USD over the past 24 hours on higher but still low volume ($1,829,810) as the broader crypto market initiated a rally. Be aware that volume is still low due to the holiday weekend in the United States, which means that this will either pick up pace going into Wednesday or reverse (I find the reversal scenario unlikely). The rewards pool continues to decline in a linear manner; I'm gathering the data for an analysis post. New account creation is lower due to the holidays but still positive with 1,200 new accounts created in the last 24 hours. The % vested indicator rose slightly to 71.30% and has remained steadily over 70% for the past 6 weeks. Daily active accounts data was not available today but I would assume it is down slightly. The SBD inflation is down with 1 SBD worth about $1.245.
The broader crypto market is mounting a recovery from the correction we have been experiencing over the past week. For traders, I recommend buy in because I believe our fundamentals are strong enough to see a significant rise in price. On the investor side, I believe we will be significantly higher at the end of the year after communities are released and the account creation problem is solved. I would power up your rewards and look for opportunities to buy at current price levels.
Introducing the @psa account
I created the @psa account to contact users who are making mistakes on the Steem blockchain that are having negative effects on themselves or the blockchain. The first campaign is SBD conversions to STEEM which are costing the user's $0.245 per SBD converted at today's rates. Check out the introduction post. Over 100 SBD->STEEM conversion notifications have gone out so far!
Payout Recommendation
Due to the SBD premium, I recommend taking your rewards in 50% SBD and using it to buy STEEM in the internal exchange.
Marketing Trust
Please support the @marketing-trust by following and upvoting the daily posts. The project was created to generate capital for a paid advertising campaign to promote Steem.
Data Credit:
Steemchart.com
Coinmarketcap.com
Steemdb.com
Disclosure:
The report published above is based on my assessment of the cryptocurrency market. Investors should consider this report as only a single factor in making their investment decision. All investments involve market risk, including possible loss of principal invested. The author is a cryptocurrency investor and while he seeks to provide honest assessments to the best of his ability may have a conflict of interest that could affect the objectivity of this report.
Discord Chat:
You can reach me on Discord on my private server or through private message to LeongKhan
