Exchange Transfer Report: 3/25/2018 to 3/31/2018

in exchangereport •  2 years ago 


USD values are calculated per day via API feeds from Cryptocompare (for STEEM and SBD values in BTC) and Coindesk (for USD value of BTC). For the top 50 reports in USD terms, I take the average USD value for STEEM and SBD for the week using the daily closing price which came out to:

  • STEEM: $1.72154
  • SBD: $1.68491

Previous Report:

  • STEEM: $2.19279
  • SBD: $2.33181


Please see the first report for a detailed explanation of my personal assumptions related to what this data could mean (along with commentary on previous reports). What it does not show is people powering up, powering down, or if they are buying or selling on an exchange. It's just some interesting data dealing with transfers to and from exchange accounts.

Linked Accounts

hitbtc includes hitbtc-exchange and hitbtc-payout, includes freewallet, openledger includes openledger-dex, binance includes binance-hot and deepcrypto8, upbit includes upbit-exchange and myupbit, and gopax includes gopax and gopax-deposit.

Previous Reports

84, 83, 82, 81, 80, 79, 78, 77, 76, 75, 74, 73, 72, 71, 70, 69, 68, 67, 66, 65, 64, 63, 62, 61, 60, 59, 58, 57, 56, 55, 54, 53, 52, 51, 50, 49, 48, 47, 46, 45, 44, 43, 42, 41, 40, 39, 38, 37, 36, 35, 34, 33, 32, 31, 30, 29, 28, 27, 26, 25, 24, 23, 22, 21, 20, 19, 18, 17, 16, 15, 14, 13, 12, 11, 10, 9, 8, 7, 6, 5, 4, 3, 2, 1

Top 50 Accounts Transferring to and from Exchanges: 3/25/2018 to 3/31/2018

First included transfer: 2018-03-25T00:00:15+00:00
Last included transfer: 2018-03-31T23:59:57+00:00

----------------------------- Exchanges ------------------------------

@binance STEEM transfer total: 872,624.721
@binance SBD transfer total: 139.885
@blocktrades STEEM transfer total: 401,738.689
@blocktrades SBD transfer total: -32,145.152
@upbit STEEM transfer total: 322,230.369
@upbit SBD transfer total: 27,533.153
@gopax STEEM transfer total: 108,580.321
@gopax SBD transfer total: -442.362 STEEM transfer total: 2,104.383 SBD transfer total: 7.608
@rudex STEEM transfer total: 187.810
@rudex SBD transfer total: -37.733
@changelly STEEM transfer total: 2.000
@changelly SBD transfer total: 0.000
@poloniex STEEM transfer total: 0.000
@poloniex SBD transfer total: 0.002
@hitbtc STEEM transfer total: 0.000
@hitbtc SBD transfer total: 0.000
@steemexchanger STEEM transfer total: -290.198
@steemexchanger SBD transfer total: -629.525
@openledger STEEM transfer total: -27,375.728
@openledger SBD transfer total: -1,575.483 STEEM transfer total: -168,704.795 SBD transfer total: 0.031
@bittrex STEEM transfer total: -725,521.453
@bittrex SBD transfer total: 138,510.446

------------------------- Total Transferred --------------------------

Total STEEM transferred: -785,576.119
Total SBD transferred: -131,360.870
Total USD transferred: ($ 1,573,727.96)

-------------------- Withdrawal to Deposit Ratio ---------------------

Accounts withdrawing: 3811
Average withdrawal amount: ($       649.39)
Median withdrawal amount: ($        12.31)

Accounts depositing: 1598
Average deposit amount:  $       236.44 
Median deposit amount:  $        43.18 

Ratio of withdrawals to deposits: 2.38/1


AccountNet Transfer Amount
1alpha:($ 851,440.56)
2grumpycat:($ 174,068.36)
3steemit3:($ 172,153.55)
4val-a:($ 86,076.77)
5proskynneo:($ 79,190.63)
6slowwalker:($ 48,341.98)
7yenlau:($ 43,738.95)
8analisa:($ 42,608.14)
9ngc:($ 42,567.81)
10trevonjb:($ 31,826.96)
11kingscrown:($ 29,082.96)
12faddy:($ 23,375.76)
13ioc:($ 21,777.76)
14imacryptorick:($ 21,237.04)
15valueup:($ 21,069.88)
16goodluck21:($ 20,790.71)
17philakonesteemit:($ 20,674.03)
18triplej:($ 18,693.46)
19feruz:($ 17,215.35)
20thecryptodrive:($ 15,694.05)
21thejohalfiles:($ 15,245.14)
22peaceandlove:($ 14,745.02)
23solisrex:($ 13,176.40)
24rzlt:($ 12,445.59)
25arneb271828:($ 12,038.02)
26kwak:($ 10,591.55)
27rl90:($ 10,293.60)
28spinbitz:($ 10,290.58)
29onehand:($ 8,922.28)
30account27:($ 8,779.83)
31starlight0x:($ 8,607.68)
32libertyteeth:($ 8,289.19)
33kumada90:($ 8,094.95)
34aquabox:($ 7,836.45)
35swissclive:($ 7,801.22)
36steemdrive:($ 7,758.50)
37corn113:($ 7,711.93)
38skt:($ 7,650.53)
39ssg:($ 6,924.59)
40rubymaker:($ 6,714.10)
41sander-lacerda:($ 5,936.44)
42sonamoo:($ 5,407.33)
43spacetrader23454:($ 4,958.02)
44chainsquad:($ 4,956.33)
45booster:($ 4,951.50)
46kakaotalk:($ 4,868.04)
47liberosist:($ 4,681.25)
48craig-grant:($ 4,408.52)
49uplus:($ 4,336.04)
50demotruk:($ 4,285.37)


AccountNet Transfer Amount
1unknownbloc:$ 172,984.08
2steemaccess:$ 55,029.29
3transcendingman:$ 36,826.01
4abusereports:$ 31,264.85
5korbit2:$ 27,043.43
6bif:$ 25,791.66
7remain:$ 20,865.01
8cryptostatic:$ 16,558.69
9tysler:$ 12,703.91
10dineroconopcion:$ 12,523.45
11tomino:$ 9,942.61
12asiancapitalists:$ 9,646.47
13heeyaa35:$ 8,879.99
14badebade:$ 8,779.83
15shivohum2015:$ 8,609.38
16elhazzz:$ 7,911.96
17mestauble:$ 7,840.80
18pi1000:$ 7,812.33
19bennsf:$ 7,256.87
20rosamaria:$ 7,079.44
21globocop:$ 6,965.49
22rhodium:$ 6,948.12
23chef.cook:$ 6,604.84
24redpalestino:$ 6,489.99
25suin:$ 6,013.29
26artathe:$ 5,521.80
27khoon:$ 5,320.09
28dongsuh:$ 5,281.09
29wikitree:$ 4,893.58
30inspirewithwords:$ 4,853.08
31patrickulrich:$ 4,537.48
32dindar:$ 4,373.71
33lowsome:$ 4,343.44
34dan-bn:$ 4,092.00
35frank.william:$ 3,964.38
36crypto-moon:$ 3,891.84
37technerd888:$ 3,787.31
38happychau123:$ 3,726.74
39try-market:$ 3,548.03
40orangesphere:$ 3,522.90
41plantedtank:$ 3,495.22
42michalx2008x:$ 3,189.70
43lisarichards:$ 3,105.07
44lex030:$ 3,052.39
45immanuel94:$ 3,044.33
46clarkgold:$ 2,938.61
47cryptoiceman:$ 2,839.77
48holger80:$ 2,672.48
49bunnypunia:$ 2,598.43
50motoengineer:$ 2,583.99

Withdrawal to Deposit Ratio by User Count over Time

click the image for an interactive graph


  • $1.5M being cashed out with these low prices is a lot of selling. I understand riding the wave to increase your holdings, but at some point people should realize (IMO) that just holding might increasae the overall value of their portfolio if other coins are bleeding and ours is holding strong.

  • @unknownbloc Seems to have dropped a ton into Steem Power so they can delegate to @smartsteem. Seems they are getting paid pretty well. Is this a good thing because it incentivizes investors to buy STEEM or is it a bad thing because it incentivizes more people to run vote bots and increase the noise to signal around here where people don't have to rely on proof-of-brain but instead just pay to play?

  • The price of STEEM and SBD continue to move together (currently below $2) which could be interpreted a number of ways. Maybe the market actors are mostly speculators and not investors at all. Maybe they don't understand any fundamentals of why STEEM is so valuable and why SBD is different. Maybe we're just a bunch of pack animals following the crowd, selling when others sell and buying when others buy.

  • Happy Easter and April fools for those who are into those. No fooler was added to this report. :)

  • The decrese in people powering down next week is 8.66% in the green compared to the previous week.

Luke Stokes is a father, husband, programmer, STEEM witness, and voluntaryist who wants to help create a world we all want to live in. Visit

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net result when you add up withdrawals and deposits.

Got it.

"withdrawal" here is someone sending value from their personal account to an exchange

Got it.

which would mean they are (most likely) intending to sell that value.

Yes…most likely…and…understandably

What I'm calling a "deposit" is when an account takes value off an exchange and puts it into their own account.

Got it.

from the standpoint of the exchanges, those terms are reversed.

This reply does a great job of clarifying everything in layman’s terms.

Much appreciated!


Thanks for sharing valuable post.
I appreciate your steem analysis

Thanks for this post.

I have a novice question:

This may be obvious; but, regarding exchanges, are the negative signs for Openledger indicative of withdrawals? Does this infer that no STEEM/SBD was deposited?

I really like this exchange; but, admittedly it's met with mixed reviews, especially with ties to the 'enigmatic' BTS.

Blessed Easter to you and your family.


It's showing the net result when you add up withdrawals and deposits. It's a bit confusing though because what i'm calling a "withdrawal" here is someone sending value from their personal account to an exchange which would mean they are (most likely) intending to sell that value. What I'm calling a "deposit" is when an account takes value off an exchange and puts it into their own account. It's confusing because, from the standpoint of the exchanges, those terms are reversed. So a "withdrawal" is, from the point of view of an exchange account, actually a deposit (for them). I'm open to any suggestions you have to how I could make this less confusing.

Thank you for providing us with such huge and relevant information. The price of steem and SBD ain't encouraging though.

Wow! thanks for the great report. This gives me a lot of awareness of what is happening in Steem Ecosystem. It is the 1st of yours that I'm seeing as I only came in contact with you yesterday. I will visit your blog to check out more. Cheers!

Hi @lukestokes , thanks for the report. I believe the following:
1- People who are real investors here, do not power down on the times were there are low prices, because the value of steem gives little in USD terms.
2- People who are just traders in the short run or invest to get short term returns, do power down because of FOMO.

I think the steem blockchain has more investors than speculators and thats why the amount of power down is less on times when there are low prices. Your thoughts?

By the way, I have a question related to @buildteam . They have not done todays stake payment as usual. Do you have any news or know something about it?

Regards, @gold84

I haven't seen a tight correlation between power downs and prices. It seems... kind of all over the place to me.

Not sure about buildteam. Might be related to it being a holiday (Easter) and/or a Sunday. I wouldn't stress about it.

Thank you @lukestokes !

What I realized is that even the price of steem went down, the payout of the @buildteam maintains almost the same, perhaps 9 or 10% of variation, but there calculation is not so related to the price of steem, or the amount of usage of the service, as the type of investments when SP is delegated.

Regards, @gold84

Not surprising to see so many transfers out as people tend to give up after the overall market movements we have seen in recent weeks. Its probably actually what we need to find a bottom; a big capitulation of panic selling to establish a bottom. Until assets like #STEEM are able to decouple themselves from Bitcoin, we cannot avoid the pressure from the overall market. On the bright side, more opportunities to add to positions at good prices given the roadmap of the #STEEM ecosystem.

If only I had USD in reserve ready to buy the dips. That's something I need to do a better job of. I buy the dips only to realize there are far more dipping to go. Heheh.

Awesome reports.

  ·  2 years ago (edited)Reveal Comment

Stop spamming comments.

Actually there are not many ideas about the market that you have described, it is a very unusual idea. I think that if the market continues in this way, many will refrain from investing in the stock market.Here's a detailed idea about our market, which is really very great.

...Maybe we're just a bunch of pack animals following the crowd, selling when others sell and buying when others buy.

That’s well said! Maybe we should look at things differently and see if it works.

Thanks to your great informative report. Belive it or not, this information has a great value to me. I can clearly see who is bringing investment to the steemit comunity and who doesn’t or actually taking out of this amazing platform.
Happy Easter!

I see a lot of familiar names in the cashing out category, it seems odd that they would do that when the market is low.

Thanks for sharing useful post. I love your steam analysis @lukestokes 40b54d2174243adf9af9004c9c7b2b58.gif

Good for things.thanks for share next post

  ·  2 years ago Reveal Comment


Sorry my friends