Not getting STEEM on more exchanges before the next bull market could be a big mistake
Steem is in a very unique position right now.
It has one of the better blockchains in the world and it has a lot of new development coming down the pipeline, things that would make you think it should be Top 25 coin at the very least.
However, it is barely clinging to the 78th spot on Coinmarketcap currently.
And in my opinion, the lower we are on that list the less likely we are to be included in the next major altcoin bull market, if there is one.
One thing we can do to help our odds of being included in this next bull market is get steem on as many exchanges as possible
Doing a quick scan of other projects ahead of us on coinmarketcap it becomes clear rather quickly that many of them are on significantly more exchanges than steem is.
On coinmarketcap, steem is listed with roughly 17 different exchanges and 29 pairs overall. Bitshares for example has more than double that and 81 pairs listed overall. Keep in mind that many of those exchanges for bitshares are very small and some listings are done in bts, which makes it not that comparable, but still...
Given what steem has going for it, it should not be on less exchanges than bitshares, as just one example...
Plus, when looking at the top exchanges by volume, steem is only on a couple of the top 50:
Whether you sort by reported volume or adjusted volume, the results are mostly the same. Steem on very few of the top 50 exchanges.
Plus it gets even worse when you account for exchanges launched within the past 2-3 years, steem is on very few of the newer exchanges.
This may not sound like that big of a deal, but it really is...
In the US, it has gotten to the point where users of steem basically only have 2 options. They can use Bittrex or go through Blocktrades.
If steem were to lose its Bittrex listing, things could get very hairy for US based users.
All that aside, steem being on less exchanges means it is less likely to go up during the next major altcoin bull market (if there is one).
In my opinion we should be doing everything we can right now, while the cost to list is likely cheaper than say in the heart of a major bull market, to get steem listed on as many exchanges as possible.
This is where it gets a little tricky...
I have recently been contacting exchanges imploring them to list steem:
And very quickly I am finding out that unless the main development team contacts these exchanges, we are not likely to get very far...
We need someone from Steemit,Inc to be contacting these exchanges!
I understand that we don't want to delay SMTs or Communities any more than we already have, so perhaps someone that is NOT involved with the development/testing of those 2 projects can start contacting exchanges on a daily basis?
I think if we just go down the list of exchanges on coinmarketcap and reach out to all of them, we are very likely to get steem on at least a couple more exchanges. I know we would all like to pretend that development is the only thing that matters, but that's sadly not the case in this speculation driven market.
It would be pretty painful for there to be another major altcoin rally and steem not really be included with it, or barely included with it.
A higher price for steem cures a lot of ails on here... from Steemit,Inc needing to sell less steem weekly to make payroll to recruiting new users into the steem ecosystem, it just all becomes easier with a higher steem price.
What about listing fees?
Just from briefly diving into this, it is apparent that some exchanges will require listing fees in order to get steem listed, though some don't even require that!
For those that do...
If that is part of the reason Steemit,inc has been dragging their feet on this, why don't we use the SPS/DAO to fund the listing fees?
I can't think of a better way to use community funding than to do something that literally helps everyone in the community.
I would have already tried to set up a proposal for this myself but almost every exchange I have contacted thus far wants to deal directly with the lead development team or Steemit Directors.
It's difficult for a community member to pull this off...
- Steem is not on many exchanges
- Steem may get left behind during next bull market if not on more exchanges
- Steemit,Inc needs to contact exchanges for real chance of listing
- Listing Fees can be paid using the SPS/DAO
Steemit,Inc, I know you have a lot on your plate already, but we really need your help on this.
Making this a priority now, while listing fees are likely cheaper than they would be in a full fledged bull market, could end up making all the difference for steem long term.
Let's get this done!
Stay informed my friends.