despite there being more steem available than eth dash and xmr, is it possible for steem to reach their prices?
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despite there being more steem available than eth dash and xmr, is it possible for steem to reach their prices?
Anything is possible :)
But it might take some time. If Steemit or any other app built on the steem blockchain catches on, the price could go pretty high... so that is the biggest thing. Getting one of these apps to catch on.
Personally I think we will see Steem trading in the dollars at some point this year. Anything above that though will take some help in my opinion.
thank you. i agree with you. :)
Dash has a market cap of $700 million, so about 7X where Steem is currently. Which means that Steem would be trading around $3 if it were to have the same market cap as Dash. That doesn't seem impossible to me.
Ethereum is on a different level right now though... it would take one of the steem apps to really take off for it to get to that kind of market cap in my opinion.
It is a misconception that the supply of a coin determines the price. The price is determined by the interaction of supply AND demand. If there is enough demand for any currency the price will rise.