Steem Total Value Powered Up - $33 million - August 13, 2023
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 increased by about 4 thousand SP, or 0.0%.
- Over the course of the week, we saw three daily increases and zero new highs in the number of staked STEEM.
- The modeled value of powered-up (staked) STEEM gained ground against all comparison tokens.
- Changes ranged from 0.36% against BTC to 2.08% against SBD.
- Compared to the January 1, 2023 baseline, the modeled value has lost ground against BTC, ETH, and TRX. It has gained ground against LTC, SBD, and USD.
- This week's completed powerdowns were reported at 597K, which is a decrease of about 6% from last week's 633K.
- We saw 2,705 new accounts created - down from 2,881 last week.
- Net migrations of account classifications showed 2 fewer orcas, 3 more dolphins, 3 fewer minnows, and 2 more redfish. The highest number of dolphins since I began tracking is 1,276. This value was reached on Thursday and Friday (August 10 and 11). The number of minnows, 5,582, is continuing a generalized multi-month decline.
Here are the numbers as-of a few minutes ago |
|---|
Total value locked in powered-up STEEM (USD): $32,902,369.68
External STEEM market cap (coingecko) $82,090,990.11
Internal STEEM market cap (median_price * current_supply) $81,184,100.00
Locked value in terms of other tokens:
| token | price | locked value equivalent | Jan 1, 2023 | pct of Jan 1 baseline |
|---|---|---|---|---|
| tron | $0.08 | 424,606,972 | 445,758,870 | 95.25% |
| steem-dollars | $2.31 | 14,243,450 | 11,564,498 | 123.17% |
| bitcoin | $29,331.00 | 1,121 | 1,477 | 75.93% |
| ethereum | $1,845.68 | 17,826 | 20,406 | 87.36% |
| litecoin | $82.89 | 396,940 | 344,287 | 115.29% |
| steem | $0.19 | 176,946,784 | 166,882,703 | 106.03% |
| USD | $1.00 | 32,902,370 | 24,516,738 | 134.20% |
|
|---|
This slide (new after April 16, 2023) takes its data from steemchiller's SDS getVestingStats API call.
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 downloaded value was 176,941,652, which was up by about 4K STEEM, or about 0% from last week's observed value. The graph appears to have basically flattened out in recent weeks.
Modeled value of powered-up STEEM in terms of USD
In terms of USD, today's value at download time - almost 33 million - remains higher than the December 30, 2022 low of $23,718,335.58. It climbed by about $1/2 million, or 12/3%, during the week.
Modeled value of powered-up STEEM in terms of Tron (TRX)
Powered-up STEEM gained about 4 million against TRX or a bit under 1%. This value is currently about 40 million above the June 15 low of 384,259,742.
Modeled value of powered-up STEEM in terms of Steem Dollars
Powered-up STEEM advanced by about 290K SBDs, roughly 21/10%, during the last week.
Modeled value of powered-up STEEM as a percentage of Steem's market cap
With today's observed value of 40.1% the graph basically flat for another week. We have now seen 10 days above 40%; 496 consecutive days above 39%; 560 consecutive days above 37%; 687 consecutive days above 35%; and 750 straight days above 1/3.
*As previously reported, the big drop on December 4, 2022 was due to a correction in the value that Coingecko is getting for its circulating supply. Numbers before December 4, 2022 were based on an artificially low supply measurement.
Modeled value of powered-up STEEM in terms of bitcoin (BTC)
Powered-up STEEM gained by about 4 BTC, or 1/3%.
Modeled value of powered-up STEEM in terms of Ethereum
Powered-up STEEM gained by about 70 ETH or 2/5% in the last seven days.
Modeled value of powered-up STEEM in terms of LTC
The weekly change for powered-up STEEM against LTC was an increase of about 6400 LTC, or almost 12/3%.
Daily Powerdown Activity
Here is graph with data from steemdb.io to show daily completed and pending powerdown activity. The graph shows 597K in completed powerdowns last week and 505K pending (both measured from Sunday through Saturday[GMT time zone]). This represents a potential decrease in powerdowns by about 15% 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 1,922 pending power downs (up from 1,062 last week), here are the times, dates, and amounts of the top-10 |
|---|
1 2023-08-13T22:40:39 - 97,830,371 VESTS, 55,779 STEEM
2 2023-08-15T22:45:33 - 61,565,834 VESTS, 35,102 STEEM
3 2023-08-20T09:48:57 - 59,432,521 VESTS, 33,886 STEEM
4 2023-08-18T20:54:39 - 30,274,734 VESTS, 17,261 STEEM
5 2023-08-16T06:44:45 - 29,491,248 VESTS, 16,815 STEEM
6 2023-08-16T17:37:06 - 25,898,905 VESTS, 14,767 STEEM
7 2023-08-16T06:44:15 - 22,497,669 VESTS, 12,827 STEEM
8 2023-08-14T04:29:51 - 22,119,402 VESTS, 12,612 STEEM
9 2023-08-19T03:55:39 - 21,937,723 VESTS, 12,508 STEEM
10 2023-08-15T06:14:12 - 20,090,582 VESTS, 11,455 STEEM
I only looked briefly at the unusually high number of new power downs, but it looks like ~900 small-value powerdowns all started on August 10 and are now pending between 16:00 and 17:30 (GMT) on August 17. Many/all of those accounts also share a single powerdown withdrawal route.
The accounts powering down near that time frame can be viewed with the following filters at SteemWorld by @steemchiller.
Notes
- Reference prices for STEEM and other tokens are downloaded from coingecko.com
Previous posts
- Steem Total Value Powered Up - $33 million - August 13, 2023
- Steem Total Value Powered Up - $32 million - August 6, 2023
- Steem Total Value Powered Up - $33 million - July 30, 2023
- Steem Total Value Powered Up - $34 million - July 23, 2023
- Steem Total Value Powered Up - $34 million - July 16, 2023
- Steem Total Value Powered Up - $32 million - July 9, 2023
- Steem Total Value Powered Up - $32 million - July 2, 2023
For links from 2021, 2022 and the first half of 2023, see these posts:
- Steem Total Value Powered Up - $32 million - June 25, 2023
- Steem Total Value Powered Up - $67 million - January 2,
20212022 - Steem Total Value Powered Up - $36 million - June 26, 2022
- Steem Total Value Powered Up - $26 million - December 18, 2022
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.
Right now the red candle in crypto market affecting all the coins. BTC price seems going dip, I think each coins are connected to each other as steem price also go down from 18 cent to 16 cent. Desperately, waiting for some positive sign of all coins including steem. Hope the power up of users may bring something fruitful. Thanks for sharing the report with details ❤️
Agreed. I'm not sure what happened this week, but the whole crypto market got hit hard....
Thanks for the analysis. This week's data is pretty bad. Worst data I've ever seen. probably the amount of powerdown has increased quite a lot in recent weeks.
We had more powerdowns last December and in July/August of 2022, but yeah the powerdowns were pretty high last week. It's funny how fast powerdowns switched from "really low" to "pretty high". What concerns me the most, though, is the steadily declining numbers of minnows. That has been a longer term trend.
Minnows leave here when they don't get support. The strong ones stay here all the time. When the bull comes, everyone will be here.
The price of steem, at least since I started in this panel, has never exceeded that of sbd. We should see something different, that is, steem is the one that exceeds sbd in price
Have you heard about the Upbit exchange? recently, a lot of steеm volume was redirected there. I wonder who is playing the coin so sharply. Thank you for your weekly report!
I have heard of Upbit, but I don't know anything about it. I wonder, too. At least STEEM has bounced back against BTC a little bit in the last couple of days.
Change in staked steem is only +4k steem. Isn't it too low? It is expected that it must be higher. WHat is the reason for this low change of staking steem.
As @yas548 noted, there was a fairly high amount of powering down last week. I think that's most of the reason behind the relatively small increase in staked STEEM.