Steem Total Value Powered Up - $33 million - May 28, 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 335 thousand SP, or 0.2%.
• Over the course of the week, we saw seven daily increases and seven new highs in the number of staked STEEM. This brings the streaks to 14 consecutive daily increases and 10 straight new highs.
• The modeled value of powered-up (staked) STEEM lost ground against all comparison values.
• Changes ranged from -5 ⁴/₅% against ETH to -1% against LTC.
• Compared to the January 1, 2023 baseline, the modeled value has gained against LTC, SBD, and USD. It has lost ground against BTC, ETH, and TRX.
• This week's completed powerdowns were reported at 258K, which is a decrease of about 21% from last week's 329K.
• We saw 2,943 new accounts created - down from 3,481 last week.
• Net migrations of account classifications showed one less Orca, two more dolphins, 11 less minnows, and 10 additional redfish.
• Financial news this week revolved around the debt-ceiling negotiations in the US congress. An agreement in principle was reportedly reached last night (May 27) with a potential vote on Thursday (June 1).

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Here are the numbers as-of a few minutes ago

Total value locked in powered-up STEEM (USD): $32,855,718.08
External STEEM market cap (coingecko) $82,062,590.18
Internal STEEM market cap (median_price * current_supply) $79,624,200.00

Locked value in terms of other tokens:

token	price	locked value equivalent	Jan 1, 2023	pct of Jan 1 baseline
tron	$0.08	427,296,963	445,758,870	95.86%
steem-dollars	$2.27	14,473,884	11,564,498	125.16%
bitcoin	$27,251.00	1,205	1,477	81.62%
ethereum	$1,843.71	17,820	20,406	87.33%
litecoin	$89.32	367,842	344,287	106.84%
steem	$0.19	174,174,303	166,882,703	104.37%
USD	$1.00	32,855,718	24,516,738	134.01%

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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.

Here are some descriptive statistics, for numbers geeks.

VESTED STEEM

Today's downloaded value was 174,168,279, which is up by about 335K STEEM, or about ¹/₅% from last week's observed value. The graph now shows 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 under $33 million - remains higher than the December 30, 2022 low of $23,718,335.58. It lost about $1 ¹/₂ million - or 4 ¹/₂% from last week's value.

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

Powered-up STEEM moved lower against TRX by about 25 million tokens or about 5 ³/₅%. An all-time low of 411,393,683 was observed on May 25 (Thursday), and it has now bounced back to 424,440,135. The previous low was logged on December 30, 2022.

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

Powered-up STEEM declined by about 350K, almost 2 ¹/₂%, during the last week.

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

After today's observed value crossed from 39.96% to 40.04% the graph continues its dance with the 40% line again this week. We have now seen 419 consecutive days above 39%; 483 consecutive days above 37%; 610 consecutive days above 35%; and 673 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 declined by about 70 BTC, or roughly 5 ¹/₂%.

Modeled value of powered-up STEEM in terms of Ethereum

Powered-up STEEM advanced in the last seven days by 1,100 ETH, or a little under 6%.

Modeled value of powered-up STEEM in terms of LTC

In the last 7 days, powered-up STEEM moved down against LTC by about 3,800 LTC, which is about 1%.

Daily Powerdown Activity

Here is graph with data from steemdb.io to show daily completed and pending powerdown activity. The graph shows 258K in completed powerdowns last week and 242K pending (both measured from Sunday through Saturday[GMT time zone]). This represents a potential decrease in powerdowns by about 6% 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 821 pending power downs (up from 777 last week), here are the times, dates, and amounts of the top-10

1 2023-05-28T22:40:18 - 43,033,255 VESTS, 24,393 STEEM
2 2023-05-29T05:01:36 - 25,607,140 VESTS, 14,515 STEEM
3 2023-06-02T05:18:33 - 15,439,474 VESTS, 8,752 STEEM
4 2023-05-30T15:56:00 - 12,966,691 VESTS, 7,350 STEEM
5 2023-06-01T17:19:54 - 12,635,759 VESTS, 7,162 STEEM
6 2023-06-04T09:03:03 - 11,138,261 VESTS, 6,314 STEEM
7 2023-06-03T01:10:30 - 10,298,130 VESTS, 5,837 STEEM
8 2023-05-30T20:38:06 - 10,238,080 VESTS, 5,803 STEEM
9 2023-06-03T11:26:36 - 9,272,788 VESTS, 5,256 STEEM
10 2023-06-01T19:12:42 - 8,643,606 VESTS, 4,900 STEEM

Notes

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

Previous posts

• Steem Total Value Powered Up - $33 million - May 28, 2023
• Steem Total Value Powered Up - $34 million - May 21, 2023
• Steem Total Value Powered Up - $34 million - May 14, 2023
• Steem Total Value Powered Up - $37 million - May 7, 2023
• Steem Total Value Powered Up - $38 million - April 30, 2023
• Steem Total Value Powered Up - $38 million - April 23, 2023
• Steem Total Value Powered Up - $41 million - April 16, 2023
• Steem Total Value Powered Up - $38 million - April 9, 2023
• Steem Total Value Powered Up - $36 million - April 2, 2023
• Steem Total Value Powered Up - $37 million - March 26, 2023
• Steem Total Value Powered Up - $38 million - March 19, 2023
• Steem Total Value Powered Up - $31 million - March 12, 2023
• Steem Total Value Powered Up - $37 million - March 5, 2023
• Steem Total Value Powered Up - $41 million - February 26, 2023
• Steem Total Value Powered Up - $40 million - February 19, 2023
• Steem Total Value Powered Up - $38 million - February 12, 2023
• Steem Total Value Powered Up - $36 million - February 5, 2023
• Steem Total Value Powered Up - $35 million - January 29, 2023
• Steem Total Value Powered Up - $33 million - January 22, 2023
• Steem Total Value Powered Up - $30 million - January 15, 2023
• Steem Total Value Powered Up - $25 million - January 8, 2023
• Steem Total Value Powered Up - $24 million - January 1, 2023

For links from 2021 and 2022, see these posts:

• 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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