Excited by the insanely fast and quality answer I got for my first question I decided to use the power of Steemit and your knowledge once again, and ask the next immediately and not tommorow as I firstly planned. This one is really bugging me and I can't figure it out.
Hoping that Steemians that are more involved in monitoring price swings and what big traders and influencers are doing actually get to see this post and solve this riddle.
Yesterday I noticed an insane increase in 24h volumes for both STEEM and SBD. More than ten times the volumes than we usually get (about 180M) with 90% of the traffic coming from Korea.
Today the STEEM pump has went down significantly, with only 84M left from 190M we had yesterday, while SBD is tearing through new all-time highs with 220M in trading volume for the last 24h.
Questions:
- Did Koreans suddenly gain interest in Steemit or is this an artificial pump by big investors and traders?
- Any idea on what to expect in the future?
- Will this positive trend continue or is this just a pump and dump?
- How is 220M in volumes even possible with only 6.8M tokens?
- Are they just going back and forth between their accounts using trading bots to push the prices higher?