interesting to see that people are predominantly buying steem on Poloniex and not so much selling there. Why would that be? Sure i know they had problems, but it doenst explain much why people continue to buy there but not sell....
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It seems that people are withdrawing from Poloniex. They must have different balances in different coins there. In order to transfer to their respective wallets they choose which coin they see as the most potentially rewarding. So suppose you have 1000 XRP, but no Ripple wallet (a common thing), you convert to Steem (which is buying Steem on the exchange) and then withdraw to your Steem wallet. This makes the balance much safer, certainly if your trust in Poloniex isn't great. + you can use that Steem to convert to Steem Power and put it to good use!
Yep that makes sense indeed. cheers
So why is there so much selling of STEEM on Bittrex then? Is Bittrex considered more safe than Poloniex?? Why?
I'm not the expert here, but Bittrex is considered to be as safe as possible, for an exchange (which is also a lot less safe than your own wallet).
Also, it's not strictly a safety issue, Poloniex changed their Terms and Conditions. Many consider those unacceptable.