How much STEEM is stored on the exchanges? (Binance added)

in steem •  7 years ago 

I have just added Binance to my 'Steem Transfers to exchanges' chart.

As you can see on the charts below, Poloniex is still losing market share rapidly. It is impossible to withdraw or deposit STEEM on Poloniex since Januari 25 (again). I no longer use Poloniex.

I'm happy STEEM has been added to Binance recently. It is my favorite exchange to trade STEEM right now. STEEM withdrawals are still disabled on Binance, so hopefully they will open this shortly.

The first chart below shows all deposits and withdrawals on the exchanges over the last 3 months. The next 3 charts show the amount of STEEM users have stored on Bittrex, Poloniex and Bittrex.

Together, there is almost 40 million STEEM stored on the bitcoin exchanges, while the total amount of liquid STEEM is 67,765,507 STEEM currently. This means about 60% of all liquid STEEM is stored on an exchange.

Daily Steem Transfers from and to exchanges

DateFrom BittrexFrom PoloniexFrom BinanceTo BittrexTo PoloniexTo Binance
2018-02-04107,155 STEEM0 STEEM0 STEEM108,636 STEEM1,500 STEEM17,414 STEEM
2018-02-0387,684 STEEM0 STEEM0 STEEM23,028 STEEM4 STEEM37,469 STEEM
2018-02-02285,390 STEEM0 STEEM0 STEEM105,620 STEEM28 STEEM173,670 STEEM
2018-02-011,376,245 STEEM0 STEEM0 STEEM1,062,529 STEEM2 STEEM1,363,669 STEEM
2018-01-31107,532 STEEM0 STEEM0 STEEM413,887 STEEM302 STEEM0 STEEM
2018-01-30135,761 STEEM0 STEEM0 STEEM108,607 STEEM322 STEEM20 STEEM
2018-01-2964,792 STEEM0 STEEM0 STEEM505,294 STEEM7,528 STEEM0 STEEM

8. STEEM stored on Bittrex

8. STEEM stored on Poloniex

8. STEEM stored on Binance


¯\___(ツ)____/¯ Follow me @penguinpablo for daily Steem statistics.

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Binance has captured good volume in very short time and I am feeling that same will happen to steem volume of bittrex that has happened to poloniex volume.

great new bro for binance we can trade steem or exchange.

  ·  7 years ago (edited)

i dont trust any exchange except bitshares

  ·  7 years ago Reveal Comment

Nah, Bittrex is OK.

Im impressed with the low amount of liquid STEEM..cant wait for that number to be even lower

It's just a beginning of new era of steemit.
It will probably overtake facebook in near future !

Wooow binance Are you serious? It's really too much. I think it's time to move to the binance now. Thank you for your share I used poloniex before. I was thinking of changing. I decided at your disposal.

Thanks for continuing to bring great information about the Steem ecosystem :)

Yes, I was trading on poloniex. But after this beautiful sharing, my ideas will change. Thanks for everything.

yeah i also treading with poloniex. nice @slayer10

it was a great and informative post ....
i always prefer that kind of post @penguinpablo

am a victim of poloniex , cant trade or move my steem, binance was my move the moment they made steem available

Thanks for this analysis. It definitely puts the supply/demand of steem in perspective.

  ·  7 years ago (edited)

Helpful article! thanks for this precious informations I am still very new to crypto, and had been wondering what are more safely among Poloniex, Bittrex and Binance?

If you have large amounts I would suggest to use 2 or even 3 exchanges. Then your risk is divided a bit, which helps if something happens with one of these exchanges.

Wow ... thank U for the info, I love Binance now even more... first news

Poloniex is going down and it is on a lot of other coins... not only STEEM

60% stored in exchange platforms worries me a little bit, because you can store it on your STEEM account and take dividends from it, why wouldn't you transfer at least half of what you have to SP and then when you start to run out of STEEM in the exchange platform because you sold (which is a mistake) you can Power Down and suddenly you are receiving STEEM everyday. It's safer and you will get free STEEM + SBD!!

I'm just guessing that numerous people bought crypto coins because it's a hype and that they are really clueless what they bought. And/or people that are just speculating but don't have a steemit account.

Either way, you should not hold you coins on exchange platforms, it's not safe... that´s why a lot of coins has it own wallet.

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its good informatio. its teaching and helping tips for us and everybody must need to know it. a big thanks for share your valuable content

thanks a lot for that post! good quality information

thanks for the information @penguinpablo, I am after hearing information from you will never use poloniex application

This is an amazing information. Great insights!

This is good information. this shows that 25% of the total circulating supply of steem is on exchanges and 75% is in wallets. most of the later is in steem power i assume and hence it will not drop quickly with the market.

wow !! somewhat high figures, it's good that this is the option for these types of STEEM transfers. thanks for the contribution friend, happy week

I don't think the crappy poloniex is anymore needed with the Binance addition. Charts indicate that too.

I am using polonyex. after this information. I'm sure I will use binance. thank you so much :)

Thanks for this information. I also never use poloniex.

it's good that this is the option for these types of STEEM transfers. thanks for the contribution friend, happy week

Great article. I use binance and genesis mining to add to the exchange. Re steemed. Follow me.

good news

@penguinpablo you have share such awesome information with us.. :)
thanks for sharing

Thanks for sharing @penguinpablo i like your sharing my friend

wow thanks for this information @penguinpablo

i will be use Binance. thanks

I don't know about seriously

So, there's nearly 20% of the liquid supply of Steem that can't be accessed sitting at Poloniex? Gee lack of regulation is great, until its your money that gets held hostage with no means for recourse.

actually thats really alote, but for the exchanges i don't really trust them , for Yobit they already stole about 0.1 BTC from me , for the moment i'm using HitBTC but i dont really trust it too !

Who’s been dumping all of their Steem into bittrex? 60% is a heavy amount.

Do we need to start a public education campaign targeting bittrex users that the value of Steem lies in powering it up instead of swing trading on exchanges? :p

Why would someone store Steem on an exchange account. Isn't is best powering up and using it for more curation. What good does it do lying in the exchange wallet ?
I know powering up locks it down for 13 weeks. Any other good reason ?

trading...

Gracias por compartir

I am just hoping Binance will soon enable STEEM trading as smooth as we want. I give binance an upvote with all sincerity.

please vote back

Until there's no insurance / gov guarantees of the funds stored on the exchanges the decentralized exchanges is the way to go.

Binance now. What is next? Thanks for sharing