Hello guys, wherever you are, I hope you’re happy…
In this article, I won’t say much. I just want to give a little reminder to all of you Steemians try to hold off on selling your Steem coins for now.
For those who don’t know, today, December 19, 2024, the FOMC (Federal Open Market Committee) just announced some updates that have slightly impacted the crypto market. You can find the news on Google, or here’s a reference you can check out - Bitcoin falls to $100,000 following hawkish FOMC despite 25bp rate cut
source : coingecko.com
Since the crypto market is going through a minor correction, this has also affected Steem coins. You can see the data in the following examples:
source : binance.com
source : bitgetapp.com
Or you can check your favorite crypto exchange.
I’m not a professional or financial expert, but here’s what I know: if you sell your Steem coins right now, you’ll probably end up losing money, right? Hahahahaha.
Relax, though this isn’t a prohibition or an invitation. You’re free to do whatever you want with your Steem coins. Also, based on some news I’ve read, this correction won’t last long. Usually, coins tend to bounce back as we get closer to Christmas and the end of the year.
Again, I’m not trying to persuade or force you, but if you’re thinking of holding onto your coins, you can just leave them on Steemit for now. If you’ve already moved them to a crypto exchange, maybe you can use the staking options provided by the exchange.
For example, let’s take Binance as an example ***(disclaimer: I’m not sponsored, forced, or asked to promote this exchange—it’s just the one I currently use).*** Binance offers up to **5% APR.** I’m not entirely sure how APR works, but essentially, you’ll get daily rewards based on how much Steem you’re staking.
source : binance.com
As shown in the image above, Binance offers up to 5% APR. The more Steem coins you stake, the higher the rewards you’ll get. This is similar to a bank deposit system where you earn annual interest on the money you save.
Once again, let me emphasize: I’m not persuading or forcing you to do anything. But it might be a good idea to let your Steem coins sit for a while so the price can recover faster. And hey, why work hard if your **Steem** coins can make money for you without doing anything, right? Hahahahaha — just kidding, don’t take it seriously.
This article is written entirely based on my personal knowledge, and I’m sure there’s a lot I still don’t know. I’m writing this not to convince anyone, but just to share some insights. Maybe some people in this community aren’t quite sure why Steem’s price is dropping, so I’m providing a bit of information. Please feel free to look for more accurate details out there.
For those of you who understand this better, please feel free to add more insights. I’d be more than happy to discuss this with you! The reply section is open for any additional information.
