We had a bit of a scare this morning with STEEM falling by as much as 10%.
However, a few hours later and STEEM would pretty much take back the majority of the drop, especially the last part that was the most violent.
(Source: https://www.mexc.com/exchange/STEEM_USDT?_from=search_spot_trade)
This is a 15 min chart so isn't really looking beyond the next several hours or days.
That being said as long as STEEM holds above $.28 SBDs will keep printing and that is very beneficial to Steemit.com users.
So, as long as we hold that level, it's all good!
And remember it is the 3.5 day average so even if it dips to $.28 the SBD printing doesn't just stop, it's the 3.5 day average price.