Steem Total Value Powered Up - $32 million - July 2, 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 190 thousand SP, or 0.11%.
• Over the course of the week, we saw six daily increases and four new highs in the number of staked STEEM. As anticipated, the previous 20-day streak of new highs ended last Sunday.
• The modeled value of powered-up (staked) STEEM lost ground against all comparison values.
• Changes ranged from -22% against LTC to -1% against SBD.
• Compared to the January 1, 2023 baseline, the modeled value has lost ground against BTC, ETH, LTC and TRX. It has gained ground against SBD, and USD.
• This week's completed powerdowns were reported at 480K, which is an increase of about 37¹/₂% from last week's 349K.
• We saw 2,163 new accounts created - down from 2,917 last week.
• Net migrations of account classifications showed 2 fewer orcas, 4 more dolphins, 12 more minnows, and 14 fewer redfish.

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Here are the numbers as-of a few minutes ago

Total value locked in powered-up STEEM (USD): $31,780,448.47
External STEEM market cap (coingecko) $78,884,821.50
Internal STEEM market cap (median_price * current_supply) $77,068,200.00

Locked value in terms of other tokens:

token	price	locked value equivalent	Jan 1, 2023	pct of Jan 1 baseline
tron	$0.08	420,838,334	445,758,870	94.41%
steem-dollars	$2.24	14,187,700	11,564,498	122.68%
bitcoin	$30,473.00	1,042	1,477	70.58%
ethereum	$1,907.36	16,662	20,406	81.65%
litecoin	$111.32	285,487	344,287	82.92%
steem	$0.18	176,325,885	166,882,703	105.66%
USD	$1.00	31,780,448	24,516,738	129.63%

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

This slide (new after April 16) 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. Noteworthy this week, the 28-day moving average is moving downwards, but there's still some daylight visible between that and the zero line.

Here are some descriptive statistics, for numbers geeks.

VESTED STEEM

Today's downloaded value was 176,313,861, which is up by about 190K STEEM, or about ¹/₁₀% over last week's observed value. The graph continues to show a slight upslope.

Modeled value of powered-up STEEM in terms of USD

In terms of USD, today's value at download time - a bit over $32 million - remains higher than the December 30, 2022 low of $23,718,335.58. It lost about $600K, a bit less than 2% in comparison to last week's value.

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

Powered-up STEEM gave back about 20 million TRX tokens or a bit over 4¹/₂%.

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

Powered-up STEEM declined by about 141K SBDs, about 1%, during the last week.

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

With today's observed value of 40.33% the graph drifted below the 40% line again on Friday (June 30) and back above after that. We have now seen 2 days above 40%; 454 consecutive days above 39%; 518 consecutive days above 37%; 645 consecutive days above 35%; and 708 straight days above ¹/₃. The graph shows a bit of noise recently, but overall seems basically flat in recent weeks.

^{*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 declined by about 15 BTC, or almost 1¹/₂%.

Modeled value of powered-up STEEM in terms of Ethereum

Powered-up STEEM declined in the last seven days by about 380 ETH, or a little over 2%.

Modeled value of powered-up STEEM in terms of LTC

After sharp moves by LTC in the last two days, the weekly change for powered-up STEEM against LTC was a decline of about 80K LTC, or 22%. Any thoughts on why LTC moved so sharply?

Daily Powerdown Activity

Here is graph with data from steemdb.io to show daily completed and pending powerdown activity. The graph shows 480K in completed powerdowns last week and 422K pending (both measured from Sunday through Saturday[GMT time zone]). This represents a potential decrease in powerdowns by about 12% 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 1,264 pending power downs (down from 1,287 last week), here are the times, dates, and amounts of the top-10

1 2023-07-02T22:55:48 - 88,016,928 VESTS, 50,025 STEEM
2 2023-07-05T00:15:18 - 76,398,829 VESTS, 43,422 STEEM
3 2023-07-03T02:37:39 - 52,854,638 VESTS, 30,040 STEEM
4 2023-07-04T12:20:33 - 47,829,863 VESTS, 27,184 STEEM
5 2023-07-07T16:03:54 - 42,895,933 VESTS, 24,380 STEEM
6 2023-07-07T16:32:42 - 22,008,463 VESTS, 12,509 STEEM
7 2023-07-04T02:02:09 - 21,994,546 VESTS, 12,501 STEEM
8 2023-07-03T10:42:45 - 19,074,325 VESTS, 10,841 STEEM
9 2023-07-06T12:50:03 - 16,331,963 VESTS, 9,282 STEEM
10 2023-07-06T20:18:30 - 15,864,029 VESTS, 9,016 STEEM

Notes

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

Previous posts

• 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

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