Here I present a graph of the price of Steem in Bitcoin vs Steemit User Growth and there's something very interesting going on.
From around 30th April 2017, Steem has been flourishing with HUGE GAINS!
We've had posts from the likes of @StephenKendal giving us an insight into the number of transactions and highlighting the fact Steem reached 692,699 transactions in one day!
This got me thinking, what might be causing this?
I did some digging and had a look at Steem user growth statistics, and the results are amazing!
Over the past weekend around 3920 accounts were created, making June 2017's total to be a whopping 50,806 new user accounts!
Furthermore, since 30th April 2017, a massive 71,288 accounts have been created, already over DOUBLE that of Q1 2017!
Have a look at the graph. Isn't it interesting that as the user count increases(therefore interest in Steem), so does the price of Steem?
I thought I'd share this with the community since I believe this provides some valuable insight into the relationship between user base and the value of Steem.
Thanks for reading,