Steem Total Value Powered Up - $30 million - December 4, 2022

remlaps-lite (76)in #metrics • 2 years ago

This is next in my series of posts reviewing the amount and value of powered up STEEM on the Steem blockchain. For previous posts, see the end of this entry.

Noteworthy in the last week

Week over week, the number of powered up STEEM decreased by about 270K SP, or 0.16%.
Over the course of the week, we saw three daily increases and no new highs in the number of staked STEEM.
The modeled value lost ground against all comparison tokens. Changes ranged from -¹/₂% against TRX to ~-6% against ETH.
The modeled value remains above its January 1 baseline for SBD, BTC, and ETH. It is now below its January 1 baseline in terms of TRX, USD, and LTC.
This week (Sunday through Saturday) saw a total of 1 million STEEM powered down, which is basically unchanged from last week's ~1 million STEEM (Sunday through Saturday).
The modeled value of powerd-up STEEM as a percentage of market cap appeared to drop substantially, but that was an artifact because @coingecko is now updating their circulating supply again, after updates stalled for almost year.

Here are the numbers as-of a few minutes ago

Total value locked in powered-up STEEM (USD): $29,807,788.69
Exernal STEEM market cap (coingecko) $75,423,521.55
Internal STEEM market cap (median_price * current_supply) $74,137,500.00

Locked value in terms of other tokens:

token	price	locked value equivalent	Jan 1, 2022	pct of Jan 1 baseline
tron	$0.05	559,865,304	809,173,538	69.19%
steem-dollars	$2.19	13,610,862	11,284,131	120.62%
bitcoin	$17,110.60	1,742	1,300	134.04%
ethereum	$1,276.84	23,344	16,501	141.47%
litecoin	$76.80	388,122	411,561	94.31%
steem	$0.18	166,598,417	142,930,214	116.56%
USD	$1.00	29,807,789	61,837,042	48.20%

And here are the charts, based on data collected daily since April 10, 2021.

Daily Changes

Here is a chart of daily changes in powered-up STEEM from April 11, 2021 to present. The graph also includes a linear trend line and a 28 day moving average.

Here are some descriptive statistics, for numbers geeks.

VESTED STEEM

Today's observed value was 166,586,643, which is down by ~270K, or ¹/₆% from last week's observed value. The graph trends down slightly for the week.

Modeled value of powered-up STEEM in terms of USD

In terms of USD, we saw a weekly decrease of about $¹/₂ million or almost 2%.

Modeled value of powered-up STEEM in terms of Tron (TRX)

Powered-up STEEM lost ground by about 3 million tokens against TRX or ¹/₂%.

Modeled value of powered-up STEEM in terms of Steem Dollars

Down by nearly 250K SBDs or a bit under 2%

Modeled value of powered-up STEEM as a percentage of Steem's market cap

After today's observed value of 39.52% the graph showed a sharp decline for the week, BUT (BIG BUT) this is because the circulating supply started updating on @coingecko again, after stalling for almost a year. This means that there's not really a valid comparison from before and after December 2. Ignoring the offset, we have now seen 244 consecutive days above 39%; 308 consecutive days above 37%; 435 consecutive days above 35%; and 498 straight days above ¹/₃. Will it hold above 39? Will it climb to 40%?

Modeled value of powered-up STEEM in terms of bitcoin (BTC)

Down by about 92 BTC, or 5% during the week.

Modeled value of powered-up STEEM in terms of Ethereum

Powered-up STEEM lost ground by about 1,500 ETH, or roughly 6%.

Modeled value of powered-up STEEM in terms of LTC

Powered-up STEEM lost ground by about 7,700 LTC, or 2%.

Daily Powerdown Activity

Here is graph with data from steemdb.io to show daily completed and pending powerdown activity. With 1 million in completed powerdowns last week and 970K pending (both measured from Sunday through Saturday[GMT time zone]), we can expect powerdowns to decrease next week by about ¹/₁₀% or more.

The horizontal lines are the average values for completed (blue) and pending (cyan) powerdowns, and the yellow line is a 28 day moving average of completed powerdowns. "Pending" numbers now come from the Steemit API, not from steemdb.io.

Here are some descriptive statistics for the numbers geeks

And with a total of 1,115 pending power downs (down from 1,268 last week), here are the times, dates, and amounts of the top-10

1 2022-12-10T11:47:00 - 422,089,188 VESTS, 235,997 STEEM
2 2022-12-11T07:49:48 - 211,305,858 VESTS, 118,144 STEEM
3 2022-12-09T07:50:09 - 195,598,627 VESTS, 109,362 STEEM
4 2022-12-08T16:25:36 - 179,100,041 VESTS, 100,138 STEEM
5 2022-12-06T07:23:33 - 98,694,754 VESTS, 55,182 STEEM
6 2022-12-05T13:12:27 - 56,494,157 VESTS, 31,587 STEEM
7 2022-12-08T08:39:36 - 44,844,175 VESTS, 25,073 STEEM
8 2022-12-07T13:11:45 - 26,852,449 VESTS, 15,014 STEEM
9 2022-12-05T01:30:30 - 26,842,775 VESTS, 15,008 STEEM
10 2022-12-06T10:38:00 - 25,050,521 VESTS, 14,006 STEEM

Notes

Reference prices for STEEM and other tokens are downloaded from coingecko.com

Previous posts

For links from 2021 and the first half of 2022, see these posts:

^{Pixabay license, source}

Reminder

Visit the /promoted page and #burnsteem25 to support the inflation-fighters who are helping to enable decentralized regulation of Steem token supply growth.

#tvpu #steemexclusive #penny4thoughts #burnsteem25

2 years ago in #metrics by remlaps-lite (76)

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moecki (71) 2 years ago

With around 1 million SP powerdown, I find it remarkable that there was "only" a decline of 270K SP. That also means that about 730K were powered up! Or have I misunderstood something?

The account with the highest powerdown seems to almost completely dissolve after the upvu delegation ended.... apparently investors are disappearing from upvu too. I just don't know if this is as good as it looks at first glance....

remlaps-lite (76) 2 years ago

Yep. You're correct. Looks like there has been a decent amount of powering up. Unfortunately, I don't know an easy way to look at who did the power-ups, but here's what I see for power-up + interest during the week:

Those numbers aren't exactly right because the powerdown numbers are aligned with calendar date in the GMT timezone, but I collect the daily vesting info during the early afternoon US/Eastern. It's a reasonable approximation, though.

moecki (71) 2 years ago

The picture is not displayed for me. I only see "image.png".

Powerup is done through transfer_to_vesting operations. Maybe you can retrieve the data and sum it up. However, a lot of data is generated in one week.

remlaps-lite (76) 2 years ago

I think Steemit was having trouble with their image storage earlier. I noticed a bunch of images that were showing their alternate text field. Hopefully you can see it now?

I thought about looking for the transfer_to_vesting operations, but yeah, going through a week of data block by block takes more time and effort than I'd like. This page is supposed to have it, but I don't think I believe the numbers.

Related, this doesn't look great:

yas548 (60) 2 years ago

Thanks for the useful analysis. 270k steem buff this week is pretty good

lupega (70) 2 years ago

The current price doesn't really give me hope, whatever I went through I see a minimal increase, but I don't want to be negative, I'm just going to wait and see, but it didn't POWER UP, I'll buy CARDANO, with part of my SBD

pennsif (79) 2 years ago

This post has been featured in the latest edition of Steem News...

The Steem News @ 4 December 2022 : UPVU 2.0 is here...

If you would like to support Steem News and Witness Weekly please consider voting for @pennsif.witness

strawberrry (71) 2 years ago

It's good that the shutdown does not go up, but stability is observed. But it's better that it goes down. Thanks for the report.

steemit.contest (75) 2 years ago

It's a pity that there are some problems with tron payments now. I think the developers will figure it out. Thanks for the report, it's informative.

STEEM 0.21

TRX 0.25

JST 0.039

BTC 94750.26

ETH 3276.79

USDT 1.00

SBD 3.15