Steem Total Value Powered Up - $41 million - July 31, 2022
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 |
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- Week over week, the number of powered up STEEM decreased by about 112K, or not quite 0.1%.
- Over the course of the week, we saw four daily increases and no new highs in number of STEEM powered up.
- The modeled value of powered-up STEEM gained ground against all comparison values. Changes ranged from 0% against ETH to +7% against USD.
- In terms of all comparison values except for TRX, and USD, today's locked value is higher than the January 1, 2022 baseline.
- This week saw a total of 636K STEEM powered down, which is an increase of 4% as compared to last week's 612K STEEM.
Here are the numbers as-of a few minutes ago |
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Total value locked in powered-up STEEM (USD): $40,645,736.96
STEEM market cap $102,176,025.22
Locked value in terms of other tokens:
| token | price | locked value equivalent | Jan 1, 2022 | pct of Jan 1 baseline |
|---|---|---|---|---|
| tron | $0.07 | 579,172,358 | 809,173,538 | 71.58% |
| steem-dollars | $3.20 | 12,701,792 | 11,284,131 | 112.56% |
| bitcoin | $23,860.00 | 1,703 | 1,300 | 131.04% |
| ethereum | $1,719.49 | 23,638 | 16,501 | 143.26% |
| litecoin | $62.00 | 655,576 | 411,561 | 159.29% |
| steem | $0.26 | 157,111,083 | 142,930,214 | 109.92% |
| USD | $1.00 | 40,645,737 | 61,837,042 | 65.73% |
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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
With a weekly decrease of about 112k, or less than 1/10%, the graph is basically flat for its 8th consecutive week, with a barely perceptible downslope.
Modeled value of powered-up STEEM in terms of USD
In terms of USD, we saw a weekly increase of about 2.6 million dollars, or about 7%. The value is still below the long-term mean, and holds above its recent low near $34 million. It also remains above the low of ~27 million from June 22, 2021.
Modeled value of powered-up STEEM in terms of Tron (TRX)
Powered-up STEEM advanced against TRX by about 15 1/2 million TRX tokens or a little over 2 3/4%.
Modeled value of powered-up STEEM in terms of Steem Dollars
Up by about 244K SBDs or 2%
Modeled value of powered-up STEEM as a percentage of Steem's market cap
Still running basically flat for the last couple of months - aside from an anomalous spike on April 26. With today's observed value of 39.85%, we have now seen 118 consecutive days above 39%; 151 consecutive days above 38%; 182 consecutive days above 37%; 309 consecutive days above 35%; and 372 straight days above 1/3. Will it hold above 39%? Will it climb above 40%?
Modeled value of powered-up STEEM in terms of bitcoin (BTC)
Up by about 44 BTC, or a bit over 2 1/2% during the week.
Modeled value of powered-up STEEM in terms of Ethereum
Powered-up STEEM gained back a tiny bit of ground by about 69 ETH, or about 3/10%.
Modeled value of powered-up STEEM in terms of LTC
Up by about 10K, or 1 1/2%. Still running well above the historical average.
Daily Powerdown Activity
Here is graph with data from steemdb.io to show daily completed and pending powerdown activity. With 636K in completed powerdowns last week and 481K pending (both measured from Sunday through Saturday), we can expect powerdowns to decline next week by about 24% 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.
Here are some descriptive statistics for the numbers geeks:
And with a total of 990 pending power downs, here are the times, dates, and amounts of the top-10:
1 2022-08-06T01:20:18 - 128,066,726 MVESTS, 70,869 STEEM
2 2022-08-07T16:01:12 - 113,871,429 MVESTS, 63,014 STEEM
3 2022-08-02T06:42:48 - 79,143,661 MVESTS, 43,796 STEEM
4 2022-08-04T10:00:18 - 76,114,966 MVESTS, 42,120 STEEM
5 2022-08-05T05:27:54 - 36,170,961 MVESTS, 20,016 STEEM
6 2022-08-01T20:10:00 - 34,412,823 MVESTS, 19,043 STEEM
7 2022-08-06T11:37:51 - 32,361,504 MVESTS, 17,908 STEEM
8 2022-08-06T10:40:57 - 30,812,124 MVESTS, 17,051 STEEM
9 2022-08-01T17:09:18 - 26,262,697 MVESTS, 14,533 STEEM
10 2022-08-04T04:06:03 - 25,729,779 MVESTS, 14,238 STEEM
Notes
- Reference prices for STEEM and other tokens are downloaded from coingecko.com
Previous posts
- Steem Total Value Powered Up - $34 million - July 3, 2022
- Steem Total Value Powered Up - $37 million - July 10, 2022
- Steem Total Value Powered Up - $36 million - July 17, 2022
- Steem Total Value Powered Up - $38 million - July 24, 2022
- Steem Total Value Powered Up - $41 million - July 31, 2022
For links from 2021 and the first half of 2022, see these posts:
- Steem Total Value Powered Up - $67 million - January 2,
20212022 - Steem Total Value Powered Up - $36 million - June 26, 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.
Since April/May 2022, there has been very little fluctuation in the daily changes. I currently have the feeling that there is not much movement on the BC at the moment. I would blame it on the summer (at least that's why it's a bit quieter for me), but that's only in the northern hemisphere and it was also different last year.
So it's probably due to the low exchange rate. But I fear the reasons are much more complex...
It's good to see that the power down will decrease significantly next week. Even if the powerdown still exceeds the powerup.
I agree. With the high powerdowns in the last 8 weeks, I'm even a little surprised that STEEM held up as well as it did against other cryptocurrencies, so I think the reduction in powerdowns is a good sign. Also, if I understand the price feed right, I believe that some SBD printing will resume in about 6 or 7 hours. With the clubs, maybe we'll even start seeing more powerup activity after that happens. (and maybe some other people will start experimenting with /promoted ;-).
My big question in this report is how to explain the 636K in completed powerdowns. Last week's post showed 556K pending. I get those numbers from steemdb.io, and they run from Sunday through Saturday when I post on Sunday, so no one should have been able to start new powerdowns in the relevant timeframe after I posted. I'm puzzled how 556K pending turned into 636K completed. I suppose I could've had a typo last week, but I'm usually pretty careful about that number.
Part of it is probably due to inflation in the conversion from VESTS to SP, but I don't think that's enough to account for the whole gap. Anyway, something to keep an eye on for next week.
I almost think that the steemdb.io data are incorrect.
When I retrieve the powerdowns via steemchillers API (Request), I get for the next 7 days:
steemdb.io shows for the same period:
I won't make it today, but maybe I can look into this a little more. May be you write a script to analyze the response before i can do it ;-)
You were absolutely right! :-) 2 % SBD are printed again... For now! :-)
The price gives us hope.
I wish you a happy start of the week
Great analysis. I think the number of locked or staked steem will increase by September