This is a historical graph of both Total STEEM and Liquid STEEM supply

Liquid STEEM is the remaining STEEM that has not been converted into Steem Power.

• When STEEM is liquid, it can be readily sold and purchased. When locked away in SP, it is not liquid, It takes a significant amount of time to convert it back to a liquid form.

The linear line is a line fit to the Liquid STEEM to show if Liquid STEEM is going up or down over the entire time period.

I created this chart with data that I collected over the last few months.

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For a breakdown of how Steemit Rewards system works:
https://steemit.com/steemit/@socky/steemit-rewards-breakdown-a-simplified-explanation-with-illustrations

For a breakdown of Steemit Keys:

https://steemit.com/life/@socky/do-you-understand-your-steemit-keys