Steem Total Value Powered Up - $35 million - September 4, 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

Week over week, the number of powered up STEEM increased by about 300K, or 0.2%.
Over the course of the week, we saw six daily increases. After 89 days without a new high in numbers of tokens powered up, we have now seen new highs on each of the last three days.
The modeled value lost ground against all comparison tokens. Changes ranged from -9% against LTC to -0.3% against SBD.
In terms of all comparison values except for TRX and USD, the modeled value remains above its January 1 baseline.
This week (Sunday through Saturday) saw a total of 305K STEEM powered down, which is a decrease of 26% as compared to last week's 415K STEEM.

Here are the numbers as-of a few minutes ago

Total value locked in powered-up STEEM (USD): $35,270,614.42
STEEM market cap $88,184,926.80

Locked value in terms of other tokens:

token	price	locked value equivalent	Jan 1, 2022	pct of Jan 1 baseline
tron	$0.06	556,634,909	809,173,538	68.79%
steem-dollars	$2.72	12,967,137	11,284,131	114.92%
bitcoin	$19,847.07	1,777	1,300	136.73%
ethereum	$1,569.50	22,472	16,501	136.19%
litecoin	$59.39	593,881	411,561	144.30%
steem	$0.22	157,905,028	142,930,214	110.48%
USD	$1.00	35,270,614	61,837,042	57.04%

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

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

With a weekly increase of about 300K, or ¹/₅%, the graph has a barely perceptible upslope, but remains basically flat for its 13^th consecutive week.

Modeled value of powered-up STEEM in terms of USD

In terms of USD, we saw a weekly decrease of about 615K dollars, or about 1 ³/₄%. The value is still below the long-term mean, and holds above its recent low near $34 million. It also remains above the low of ~27 million from June 22, 2021.

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

Powered-up STEEM lost ground by about 16 million tokens against TRX or a little under 3%.

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

Lost ground by about 36,000 SBDs or 0.26%

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

Still running basically flat for the last few months - aside from an anomalous spike on April 26. With today's observed value of 40.00%, we have now seen 153 consecutive days above 39%; 186 consecutive days above 38%; 217 consecutive days above 37%; 344 consecutive days above 35%; and 407 straight days above ¹/₃. Will it hold above 40%?

Modeled value of powered-up STEEM in terms of bitcoin (BTC)

Lost ground by about 16 BTC, or less than 1% during the week.

Modeled value of powered-up STEEM in terms of Ethereum

Powered-up STEEM lost ground by about 1,650 ETH, or about 7%.

Modeled value of powered-up STEEM in terms of LTC

Down by about 58K, or 9%. Still running above the historical average.

Daily Powerdown Activity

Here is graph with data from steemdb.io to show daily completed and pending powerdown activity. With 305K in completed powerdowns last week and 335K pending (both measured from Sunday through Saturday), we can expect powerdowns to increase next week by about 10% or less.

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 1033 pending power downs, here are the times, dates, and amounts of the top-10

1 2022-09-05T23:12:24 - 58,689,804 MVESTS, 32,574 STEEM
2 2022-09-09T04:37:51 - 47,577,243 MVESTS, 26,406 STEEM
3 2022-09-07T09:17:21 - 45,315,796 MVESTS, 25,151 STEEM
4 2022-09-10T14:07:09 - 40,113,363 MVESTS, 22,264 STEEM
5 2022-09-06T08:43:27 - 29,742,868 MVESTS, 16,508 STEEM
6 2022-09-07T20:39:48 - 18,027,762 MVESTS, 10,006 STEEM
7 2022-09-08T20:43:36 - 15,021,215 MVESTS, 8,337 STEEM
8 2022-09-06T19:47:33 - 13,397,689 MVESTS, 7,436 STEEM
9 2022-09-07T23:08:27 - 10,814,134 MVESTS, 6,002 STEEM
10 2022-09-07T14:41:57 - 9,197,459 MVESTS, 5,105 STEEM

Notes

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

For links from 2021 and the first half of 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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pennsif (79) · 2 years ago

Good to see another facing week for Steem Power.

Do you have any feeling for what is causing this upward trend?

Possibly connected with the brief period when SBDs were back in the rewards?

$0.16

4 votes

remlaps (75) · 2 years ago

I think the main thing is just that powerdowns have been relatively low. It looks to me like the 28 day average in the powerdown graph will hit an all time low this week.

$0.07

1 vote

I guess the low STEEM price might discourage powerdowns - as much as it encourages them.

$0.06

Yeah, I think you might be right. I keep thinking that it might be interesting to run some correlation tests between STEEM closing price and powerdown volume and/or total amount staked. I haven't had the motivation to actually do it yet, though.

lupega (70) · 2 years ago

The graph shows a good trend, there are more on than off, I have done some POWER UP, well I am not the only one, my goal is to increase my voting power, but continue accumulating SBD

$0.08

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

The Steem News @ 8 September 2022 : Engagement Challenge - Season 4 Week 2

$0.04

steemibu351 (57) · 2 years ago

Steem price is stable at a fixed range for days. I think something good is coming sson. steem is king

killerkuasha (57) · 2 years ago

That's pretty cool to know thanks for the tips by the way :)

$0.00

yas548 (60) · 2 years ago

Steempower or sp is one of the most important gears of the blockchain. The reliability of the blockchain is directly proportional to the sp.

steemit.contest (75) · 2 years ago

It's nice to see how the coin is strengthening steem. I was told that steemit designed for 19 years of work. I wonder where this information comes from. I think the platform has a great future. Powerful support from various sources. I am glad that people mostly turn on, not off.

strawberrry (71) · 2 years ago

The inclusion figures are undoubtedly pleasing! It is a pity that SBD has temporarily stopped being charged recently. They told me that it had already happened in previous years, and this year they stopped accruing. And when bitcoin grew up, they began to accrue again. Bitcoin has stopped falling again. I think when bitcoin grows up everything will normalize!