Steem Total Value Powered Up - $34 million - May 21, 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 300 thousand SP, or 0.2%.
Over the course of the week, we saw seven daily increases and three new highs in the number of staked STEEM.
The modeled value of powered-up (staked) STEEM gained ground against all comparison values, except for LTC and TRX.
Changes ranged from -7 ¹/₃% against TRX to +1 ¹/₂% against USD.
Compared to the January 1, 2023 baseline, the modeled value is higher than all comparison tokens, except for ~~LTC and TRX~~ BTC and ETH.
This week's completed powerdowns were reported at 329K, which is a decrease of about 61% from last week's 848K.
We saw 3,481 new accounts created - up from 2,496 last week.
Net migrations of account classifications showed one less dolphin, one less minnow, and two additional redfish.

Here are the numbers as-of a few minutes ago

Total value locked in powered-up STEEM (USD): $34,121,373.61
External STEEM market cap (coingecko) $85,286,223.13
Internal STEEM market cap (median_price * current_supply) $85,171,000.00

Locked value in terms of other tokens:

token	price	locked value equivalent	Jan 1, 2023	pct of Jan 1 baseline
tron	$0.08	451,543,996	445,758,870	101.30%
steem-dollars	$2.32	14,707,488	11,564,498	127.18%
bitcoin	$26,911.00	1,267	1,477	85.82%
ethereum	$1,810.38	18,847	20,406	92.36%
litecoin	$91.60	372,504	344,287	108.20%
steem	$0.20	173,837,641	166,882,703	104.17%
USD	$1.00	34,121,374	24,516,738	139.18%

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. Because of a service disruption on Monday, the numbers on Monday and Tuesday are offset weirdly. Monday's number is artificially high, and Tuesday's is artificially low.

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 173,832,901, which is up by about 300K STEEM, or about ¹/₅% from last week's observed value. The graph has remained almost flat.

Modeled value of powered-up STEEM in terms of USD

In terms of USD, today's value at download time - slightly over $34 million - remains higher than the December 30, 2022 low of $23,718,335.58. It gained by about $¹/₂ million - or 1 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 36 million tokens or about 7 ¹/₃%. Today's number - just shy of 450 million - is about 14 million above the all time low near 436 million. That low was logged on December 30, 2022.

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

Powered-up STEEM gained ground by about 159K SBDs over the last week, which is about 1%.

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

After today's observed value of 39.99% the graph has continued flirting with the 40% line yet again this week. We have now seen 412 consecutive days above 39%; 476 consecutive days above 37%; 603 consecutive days above 35%; and 666 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 advanced by about 16 BTC, or roughly 1 ¹/₃%.

Modeled value of powered-up STEEM in terms of Ethereum

Powered-up STEEM advanced in the last seven days by 199 ETH, or a little over 1%.

Modeled value of powered-up STEEM in terms of LTC

In the last 7 days, powered-up STEEM moved down against LTC by about 43K LTC, which is about 10 ¹/₂%.

Daily Powerdown Activity

Here is graph with data from steemdb.io to show daily completed and pending powerdown activity. The graph shows 329K in completed powerdowns last week and 258K pending (both measured from Sunday through Saturday[GMT time zone]). This represents a potential decrease in powerdowns by about 21 ¹/₂% or more. The completed powerdowns were down markedly from last week's pending number (541K) because at least one large pending powerdown was canceled before execution.

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 777 pending power downs (down from 835 last week), here are the times, dates, and amounts of the top-10

1 2023-05-21T22:40:12 - 42,082,154 VESTS, 23,841 STEEM
2 2023-05-22T05:01:36 - 25,607,140 VESTS, 14,507 STEEM
3 2023-05-23T10:36:54 - 22,108,652 VESTS, 12,525 STEEM
4 2023-05-23T15:35:42 - 20,819,041 VESTS, 11,795 STEEM
5 2023-05-26T06:21:30 - 15,403,383 VESTS, 8,726 STEEM
6 2023-05-21T22:40:39 - 13,487,837 VESTS, 7,641 STEEM
7 2023-05-23T15:56:00 - 12,966,691 VESTS, 7,346 STEEM
8 2023-05-23T17:27:42 - 12,222,068 VESTS, 6,924 STEEM
9 2023-05-28T09:03:03 - 11,138,261 VESTS, 6,310 STEEM
10 2023-05-27T01:10:30 - 10,298,130 VESTS, 5,834 STEEM

Notes

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

For links from 2021 and 2022, see these posts:

^{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.

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yas548 (60) · 2 years ago

Thanks for the analysis. SP buff decreased due to price. The greater the empowerment, the higher the strength of the ecosystem.

$0.06

4 votes

lupega (70) · 2 years ago

I keep looking at the price of SBD and I feel annoyed, the price of STEEM in relation to that of SBD is quite different, I sell steem to obtain sbd and it shouldn't be like that, I better not say anything else.
Excuse my comment, but I don't like injustices

strawberrry (71) · 2 years ago

In total, steem is growing and that's a fact. Too bad the price has gone down a bit. I honestly didn't really expect this. According to my calculations, the price should have risen a little. And she went down.

pennsif (79) · 2 years ago

This post has been featured in the latest edition of Steem News...

The Steem News @ 25 May 2023 : Steemit Engagement Challenge Season 10

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Steem Total Value Powered Up - $34 million - May 21, 2023

Noteworthy in the last week

Here are the numbers as-of a few minutes ago

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