It's surprising how PALcoins are getting in-demand in the STeem-Engine DEX. Just a few days the price for each coin is around 0.40 steem/pal. I just bought some new PALcoins today at a price of 0.49 steem/pal while in yesterday's trading history it even went up to 0.59 steem/pal.
It does not show any hint of going down in terms of price. On top of that, the team behind PAL is also working on expanding their reach to other communities. This move will again increase the marketcap of PAL which is now at $3M.
This is going to push more value towards PAL since more and more users are converting some of their Steem to PAL. I've been noticing more high-stake PAL users that were not part of the MSP/PAL league of moderators & curators. That's good progression for PALnet because the power will be distributed even further beyond the reach of the initial high-stake PAL users.
The distribution of PALcoins will be more diverse among different PAL users.
The Minnowsupport curation team has started to roll-out their formal curation initiative this week. It's great for those undervalued contents to be noticed and be rewarded with PAL and Steem+SBD+SP as well. That sounds really rewarding.
The voting strength of the MSP group is more than enough to bring an undervalued quality content up to the PALnet Trending page.
It only prove that PALnet is creating a greater value for the Steem ecosystem by providing a new way to experience it while earning an extra reward.
All of it for a few weeks of operation which made me wonder how much progress will PALnet achieve if given a few more months from now. I'm betting for great things to happen, Cheers!
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