Liquid STEEM Report Aug 2, 2018
This is a historical graph of both Total STEEM and Liquid STEEM supply
(Note) There are two different scales on this graph. For full scale, see graph below.
Liquid STEEM is the remaining STEEM that has not been converted into Steem Power. (Orange Line)
- When STEEM is liquid, it can be readily sold and purchased.
- When STEEM is locked away in SP, it is not liquid, It takes a significant amount of time to convert it back to a liquid form.
This is a graph of the same data. The data of this graph was plotted on the same scale to show the massive difference between Liquid STEEM and STEEM stored in SP
I created these charts with data that I collected over the last few months.
Why are these graphs important?
STEEM is created at a high rate. Currently 8.79% per year. Many Steemians have a concern about STEEM inflation with the high rate of new currency creation. These graphs show that there is a limited supply of STEEM. Inflation is being offset by the rate of STEEM converted to Non-Liquid STEEM.
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For a breakdown of how Steemit Rewards system works:
For a breakdown of Steemit Keys:
https://steemit.com/life/@socky/do-you-understand-your-steemit-key
For a breakdown of why Steem Power is Important:
https://steemit.com/steemit/@socky/why-is-steem-power-important-beginners-read
Over the past few days the entire crypto currency market has seen what appears to be a minor sell off, this is no different for Steem. The channel of $1.30 - $1.75 was broken earlier this week after Bitcoin broke to the downside and headed for the next support region of $7,200.
The channel held strong for numerous week, which often results in price being a lot of pressure and the more times it test the support/resistance of the channel, the more likely a breakout is. Thats exactly what happened here. On the 4hr timeframe we can see price was able to close below the $1.30 support before having a pullback to retest this level where it was rejected and pushed price even lower. Where this coin ends up in the short time is mainly a reflection on the direction in which Bitcoin heads next. However, i believe we could see this bearish momentum carry prices down to the $1.15 area of support before finding its legs again.
Coins mentioned in post: