Steem Total Value Powered Up - $47 million - March 13, 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,
- After a streak of 14 consecutive daily increases, tomorrow is a "make or break" day for its continuation. Pending powerdowns total 170K SP, and the average daily [power-up + interest] is about 193K. It will be interesting to see if enough SP is powered up tomorrow to offset the powerdowns.
- The modeled value for powered-up STEEM was up against all comparison tokens, and also against USD.
- As a percentage of market cap, the modeled value of powered-up STEEM hit a new high at 38.66% on Monday (March 7)
- With 310K SP powered down last week, and 465K powered down this week, the week over week change in powerdowns represented an increase of about 50%.
- As a raw number, the number of powered-up STEEM increased by about 350K, or 1/4%.
Here are the numbers as-of a few minutes ago:
Total value locked in powered-up STEEM (USD): $47,239,251.65
STEEM market cap $123,203,140.50
Locked value in terms of other tokens:
| token | price | locked value equivalent | Jan 1, 2022 | pct of Jan 1 baseline |
|---|---|---|---|---|
| tron | $0.06 | 788,148,416 | 809,173,538 | 97.40% |
| steem-dollars | $4.13 | 11,438,075 | 11,284,131 | 101.36% |
| bitcoin | $39,005.00 | 1,211 | 1,300 | 93.19% |
| ethereum | $2,583.30 | 18,286 | 16,501 | 110.82% |
| litecoin | $105.69 | 446,960 | 411,561 | 108.60% |
| steem | $0.31 | 151,396,212 | 142,930,214 | 105.92% |
| USD | $1.00 | 47,239,252 | 61,837,042 | 76.39% |
And here are the charts, based on data collected daily since April 10.
Daily Changes
Here is a chart of daily changes in powered-up STEEM from April 11 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 increase of about 350k, this week saw seven out of seven daily increases and also new highs each day this week. This is the tenth consecutive week with a clear upward slope.
Modeled value of powered-up STEEM in terms of USD
In terms of USD, we saw a weekly increase of about $1.2 million, or 2.6%. The value remains above its summertime and more recent lows.
Modeled value of powered-up STEEM in terms of Tron (TRX)
Powered-up STEEM gained against TRX by about 15 million, or about 2%. Still treading water around the 800 million line..
Modeled value of powered-up STEEM in terms of Steem Dollars
Up by about 600k SBDs, or a little over 5 1/2% this week.
Modeled value of powered-up STEEM as a percentage of Steem's market cap
Gained ground again this week, holding its ground above 38% and reaching a new high at 38.66% on Monday (March 7). We have now seen 11 consecutive days above 38%; 42 consecutive days above 37%; 72 consecutive days above 36%; 169 consecutive days above 35%; and 232 straight days above 1/3. Also, the graph has started to reestablish an upward-seeming slope since the beginning of 2022. Will it hold above 38%? Will it reach new highs or even go above 39%?
Modeled value of powered-up STEEM in terms of bitcoin (BTC)
Up by about 28 BTC, or 2.4%, during the week.
Modeled value of powered-up STEEM in terms of Ethereum
It's not obvious from eyeballing the graph, but the modeled value for powered-up STEEM gained in strength by a little under 800 ETH, or about 4 1/2%
Modeled value of powered-up STEEM in terms of Litecoin
Powered-up STEEM gained by about 3,500 LTC, or less than 1%. Still hanging around the 400k - 500k band.
Daily Powerdown Activity
Here is graph with data from steemdb.io to show daily completed and pending powerdown activity. Overall, with about 465K powered down last week and 620K pending, we can expect an overall increase in powerdowns by about 33% or less in the coming week.
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:
Notes
- I was pressed for time today and had to post without proof-reading the numbers as carefully as I'd like. I'll revisit this later and make corrections as needed.
- Reference prices for STEEM and other tokens are downloaded from coingecko.com
Previous posts
- Steem Total Value Powered Up - $67 million - January 2,
20212022 - Steem Total Value Powered Up - $57 million - January 9, 2022
- Steem Total Value Powered Up - $60 million - January 16, 2022
- Steem Total Value Powered Up - $43 million - January 23, 2022
- Steem Total Value Powered Up - $46 million - January 30, 2022
- Steem Total Value Powered Up - $54 million - February 6, 2022
- Steem Total Value Powered Up - $50 million - February 13, 2022
- Steem Total Value Powered Up - $46 million - February 20, 2022
- Steem Total Value Powered Up - $48 million - February 27, 2022
- Steem Total Value Powered Up - $47 million - March 6, 2022
- Steem Total Value Powered Up - $47 million - March 13, 2022
Power up through March 13, 2022 is averaging $51,363 million.
It looks like the trend of the steem chart on the exchange is showing a strengthening towards the price peak two months ago. Will it continue to rise, until it reaches above $0.5 in April? I think that will happen, if there is a new wave of investment or a decrease in the number of powerdowns.
Steem APR rate is 3.15. If we can increase this, we can increase the number of locked Steem and increase the price of steem.
Cryptocurrencies are falling but buffing is increasing. It doesn't get any better than this. This week is critical, because of the Fed meeting
There is a constant increase in power-up. Because the Steem price has dropped, people aren't selling and they're making reinforcements. They increase their Steem power with both interest income and curation reward.
The current conflict between RUSSIA and UKRAINE has had a lot of influence on cryptocurrencies, it is sad to think that this war only brings pain and death, but it is not the subject of your post ,here the issue is capitalization
It is a plus point of investing in steem that it don't follow bitcoin too much. And after analysing all data about bitcoin and steem, it is seen that steem is more profitable than bitcoin in long term. So I always love to trade with steem. It is good to see that steem still hold a noticeable amount of stake price. That proves steem still hold the belief of investors.
Steem price was $0.29 last week and now it is $0.31, but Steem total value powered up is same as last week. Power down is the reason of this. I think this is high time to power up not power down.
BTC price is remaining at $36k-$45k from a long time but very soon it may cross the strong resistance of $45k.
Important to know. Thank you.