Steem (STEEM) Token Suddenly Surges 40 Percent. Here's Why

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Wed, 03/18/2020 - 17:13
Alex Dovbnya
The price of STEEM explodes after the community came up with its own blockchain
Cover image via stock.adobe.com
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The price of STEEM, the native token of the Steem blockchain, has just exploded, surging more than 40 percent at 16:40 UTC. It hit an intraday high of $0.198 before giving up some of its gains.  

image by coinstats.app

Related
Just In: Steemit Moves to Tron (TRX) Blockchain

Steemians launch a decentralized blockchain    

This sudden spike comes after the Steem community announced the launch of a new blockchain called Hive in an apparent attempt to spite Tron CEO Justin Sun who was accused of trying to take over the network

Steemians will be able to receive their tokens through an airdrop, which excludes Steemit's 'ninja-mine' stake that was the bone of contention. 

Related
October’s Official Site Traffic List: Steemit is Leading

Binance to support the hard fork

Binance, the exchange that got embroiled in the governance crisis, has already supported the forthcoming hard fork that is expected to be launched on March 20. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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