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Binance has opened Steem deposit and withdrawal by bala41288

View this thread on steempeak.com
· @bala41288 ·
$10.79
Binance has opened Steem deposit and withdrawal
It's been a few days since the chain split happened and we have not been able to trade our Steem tokens anywhere. Today I was glad to see that Binance has opened the deposit and withdrawal of Steem. As we all know many people have been saying that they are going to dump their steem tokens, there is a high possibility that the price of the tokens can fall. As soon as I heard the information that the trading is open for Steem, I did a little deposit of 300 tokens and sold it for 2648 Satoshi per steem. 

I'm not sure why all the exchanges are holding their deposit and withdrawal of Steem and Hive tokens. I expected the exchanges to never close deposit and withdrawal of steem but I don't know why they wanted to stop Steem trading on these exchanges.

![image.png](https://cdn.steemitimages.com/DQmam6r1GTznVuetkz39g2CRqxKXakiJur1oH1Y4XwK9Jdf/image.png)

I'm a bit surprised to see that the price of Steem is holding good. Of course, it is not the same as how it was a few days back but it is definitely better compared to what I expected. I expected a huge fall in the price of steem as soon as the chain split. Like I explained in my previous article, the chain split did reduce the price by 37% but as the deposit and withdrawal were closed on all the exchanges, the price did not go down further. 

Now even after seeing the news that Binance has opened the withdrawal of Steem and deposit of steem, I don't see many people dumping their tokens. It is a bit of a surprise to me. Many people don't have a good opinion about Binance right now and that can be one of the reasons why they are afraid to trade on Binance Exchange. There are different opinions flowing around about Steem, Hive and about the future of both the cryptocurrencies. I personally used this opportunity and sold 300 tokens and have been holding it as BTC in my wallet. It is not fully for the sake of dumping or anything but I really wanted to sell some of my stakes even before the split. After I heard the news about chain split I moved my tokens back to the wallet. Now that the trading is open again, I wanted to make use of this opportunity to sell them. 


![image.png](https://cdn.steemitimages.com/DQmc43rfitpCzhxLHMg9xpwWv8keyQuy5TGKhLu385duXUK/image.png)


My trading also went very well. When I sold my 300 Steem the price of 1 Steem was 2648 Satoshi but now the price is continuously dropping. At the time of writing this article, the price is around 100 Satoshi less than my selling price. But I'm able to see huge buy orders out there. I don't know who is buying but I see big buy orders. The buy orders are currently holding the price of Steem. I also think that many people are not aware yet about the fact that Binance has opened trading. When they know about that, I believe huge buying and selling would happen. 

I don't really know how to comment on this. For the past few days, the price has been falling down, so I don't really know how the price would change. But from what I see, we will be able to see the actual value of both the coins only after trading is open on all the exchanges where Steem and Hive are listed. Let's wait and watch. 
šŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 137 others
šŸ‘Ž  
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@bdvoter.cur ·
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@bala41288 ·
Thanks for the curation. 
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@fucho80 ·
Hello friend @bala41288, very interesting analysis, apparently the price does not even behave as some predicted, hopefully we will see what happens the next few days.
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@bala41288 ·
Yes the actual trading hasn't started yet. I guess things will turn around well once the actual trading starts and when more exchanges join the party. 
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@oluwatobiloba ·
Thanks for the update and about the price, I hope things turn out good.
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@bala41288 ·
Everyone is having the same expectation. Thanks for the comments. 
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@offgridlife ·
Iā€™m pretty sure all the TRON army is buying all the Steem on the dips. We will see how long they can do this for....
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@bala41288 ·
Yes, they are currently holding the price very well. Let's see what happens when big dumping happens. 
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@juanmolina ·
Dear @bala41288.

Blcktrades (@blocktrades) began marketing Steem and Hive.
This news will please many Steemit and especially the community of Venezuelans.

Your friend, Juan.
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@bala41288 ·
Yes, that is definitely great news. I wish to see many more exchanges opening trading for Steem and Hive. Thanks for the comments. 
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@steem-ua ·
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@lanzjoseg ·
Hi @bala41288
The price has been going down is bad for everyone. However, I think that at any moment it will give us a very pleasant surprise for everyone.

I have not lost hope that it will rise, I still remember the year 2017
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