STEEM is Holding the Line

It's been a bad week in the entire crypto market.

The sudden fall of BITCOIN two days ago has, once again, dragged the entire market, including good and bad projects, to still lower price levels.

STEEM has not been saved from this painful movement, getting to touch the 0.11 USD per token is something that very few imagined a year and a half ago, however, I have the impression that STEEM is doing well in recent weeks.

Thanks to @steemit having cancelled its programmatic sales and, also, due to the good feelings that most users are experiencing from HF22 and the #newsteem spirit, it seems that the selling pressure has diminished substantially.
This can be clearly seen if we follow the weekly data offered by @penguinpablo expressed in the following chart:

We have an important reduction on the withdrawals of liquid STEEM to the exchanges, which started in the first week of this month and that is being sustained on the second and third and very likely during this week as well.
It seems people is buying STEEM timidly again so, the total liquid STEEM accumulated at the exchanges is decreasing, more people is buying STEEM and, what is better, it is being powered up.

As a result, despite we have a lower price due to the sudden fall of the market this week, STEEM is keeping its position strongly, we are not falling lower in the Market Cap position, STEEM is holding or improving its location, which, in my opinion, it is good since it is demonstrating that this blockchain keeps being interesting for many people out there.

Also the pair STEEM/BTC on the daily shows an encouraging scenario:

I think we are in the good path for the recovery...the accumulation Phase is already started at the STEEM Blockchain so, we just need to hold and reinforce the line.

@toofasteddie