Exchange Transfer Report: 6/25/2017 to 7/1/2017

in exchangereport •  2 years ago 


Changes this week: I added and as exchange accounts as that's what they appear to be.

USD values are calculated per day via API feeds from Poloniex (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 average which came out to:

  • STEEM: $1.79652
  • SBD: $1.90298

Previous Report:

  • STEEM: $2.16967
  • SBD: $1.79031


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.

Previous Reports

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: 6/25/2017 to 7/1/2017

First included transfer: 2017-06-25T00:00:15+00:00
Last included transfer: 2017-07-01T23:59:54+00:00

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

@poloniex STEEM transfer total: -246,088.397
@poloniex SBD transfer total: 203,443.821
@bittrex STEEM transfer total: 800,679.489
@bittrex SBD transfer total: 285,082.920
@blocktrades STEEM transfer total: 160,790.935
@blocktrades SBD transfer total: 33,692.620
@openledger STEEM transfer total: -14,124.770
@openledger SBD transfer total: 5,538.160
@hitbtc STEEM transfer total: 238.652
@hitbtc SBD transfer total: 192.180
@changelly STEEM transfer total: -24,026.327
@changelly SBD transfer total: -88,826.112
@shapeshiftio STEEM transfer total: 0.000
@shapeshiftio SBD transfer total: 0.000 STEEM transfer total: -52,705.531 SBD transfer total: 18.240 STEEM transfer total: 16,654.571 SBD transfer total: 0.000 STEEM transfer total: -6,618.623 SBD transfer total: 21,058.417

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

Total STEEM transferred: -634,799.999
Total SBD transferred: -460,200.246
Total USD transferred: ($ 2,016,181.60)

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

Accounts withdrawing: 3228
Average withdrawal amount: ($       812.24)
Median withdrawal amount: ($        53.88)

Accounts depositing: 679
Average deposit amount:  $       187.65
Median deposit amount:  $       139.52

Ratio of withdrawals to deposits: 4.75/1


AccountNet Transfer Amount
1paco-steem:($ 186,336.71)
2originate:($ 117,430.86)
3tombstone:($ 107,791.17)
4eeqj:($ 75,453.82)
5fyrstikken:($ 73,038.13)
6summon:($ 71,047.59)
7witness.svk:($ 62,878.18)
8expir:($ 62,145.00)
9steemrollin:($ 61,015.88)
10fuzzyvest:($ 44,347.45)
11thisvsthis:($ 43,619.25)
12coldstorage1:($ 35,930.39)
13smooth-a:($ 35,930.39)
14sochul:($ 34,229.68)
15craig-grant:($ 34,046.63)
16kocowpo:($ 30,540.83)
17vip:($ 29,897.60)
18samupaha:($ 26,947.79)
19cass:($ 24,097.62)
20jejujinfarm:($ 23,337.25)
21officialfuzzy:($ 21,067.26)
22nextgencrypto:($ 20,845.28)
23helikopterben:($ 19,875.25)
24jabbasteem:($ 19,776.16)
25enki:($ 19,540.07)
26netcore:($ 18,419.71)
27htooms:($ 17,965.20)
28sponge-bob:($ 17,965.20)
29drunchpunk:($ 17,800.63)
30tradeqwik:($ 17,471.22)
31mynewsteemit:($ 17,368.15)
32vintagebazaar:($ 16,698.69)
33benjojo:($ 16,168.68)
34trail:($ 15,227.63)
35fshzzl:($ 14,831.21)
36furion:($ 14,645.00)
37wiggity55:($ 14,529.67)
38steemaccess:($ 13,473.90)
39proskynneo:($ 13,355.13)
40expir601:($ 12,397.15)
41malaiandrueth:($ 12,269.91)
42expir602:($ 11,695.34)
43cached:($ 11,364.64)
44arslan7544:($ 11,227.75)
45gidkit:($ 10,893.12)$ 10,368.48)
47aaron:($ 9,698.32)
48yan-kovalenko:($ 9,162.25)
49thomaskikansha:($ 9,065.10)
50joshbreslauer:($ 9,022.12)


AccountNet Transfer Amount
1otisbrown:$ 28,235.90
2extrospect:$ 28,076.62
3etartakovsky:$ 27,131.60
4hasoon:$ 24,614.79
5carlperna:$ 18,054.93
6vortac:$ 15,000.66
7royalmacro:$ 13,287.46
8katythompson:$ 12,933.03
9rok-sivante:$ 11,534.62
10whive:$ 11,003.57
11sigizzang:$ 10,779.08
12vjanma:$ 9,849.19
13steppingout23:$ 8,670.75
14supermeatboy:$ 8,056.99
15albensilverberg:$ 7,974.53
16papa-ephraim:$ 7,670.77
17prameshtyagi:$ 6,708.06
18jinh0729:$ 6,573.46
19sneakgeekz:$ 6,557.45
20honeybee:$ 6,253.87
21crypto-p:$ 6,156.72
22coinlend:$ 6,117.43
23briskbrisk:$ 6,117.11
24dolphinstudios:$ 5,946.67
25kokolo:$ 5,750.61
26jefflombardo:$ 5,604.57
27flipstar:$ 5,348.78
28leomichael:$ 5,282.01
29nlizotte:$ 4,851.66
30craigemslie:$ 4,494.86
31skoenic:$ 4,491.30
32xplicit:$ 4,311.61
33hydro100:$ 4,235.50
34abuzarkalam:$ 4,204.21
35onealfa:$ 4,182.66
36kj50114:$ 4,134.86
37euey:$ 4,108.60
38seunghobaek:$ 3,594.82
39paryas:$ 3,594.82
40pouyan:$ 3,594.82
41staticinstance:$ 3,593.04
42realcodysimon:$ 3,593.00
43davebrewer:$ 3,059.13
44nxtblg:$ 2,957.82
45kiligirl:$ 2,843.69
46me-tarzan:$ 2,714.54
47witze:$ 2,676.76
48feedmeapples:$ 2,649.20
49aryacryptoguy:$ 2,555.09
50pomperipossa:$ 2,554.16

Withdrawal to Deposit Ratio by User Count over Time

click the image for an interactive graph


  • I noticed @shapeshiftio had no transfers for a month. If they don't have any next week, I'll go ahead and remove them from the report.

  • As mentioned above, I added and this week.

  • The withdrawal to deposit ratio more than doubled this week to 4.75 to 1. People cashing out those sweet, sweet, Hard Fork 19 rewards, I guess. I wondered about this last week and seems my hunch was right.

  • The total outbound was over $2M which may have something to do with the price going down (though today it seems cryptos accross the board are retracing).

  • The powerdown amounts for next week are in the red at 7.03%. Could that mean more price declines? I'm starting to wonder if the power down signal lags a week or so since last week's report showed 10% green but we still had quite a bit going out. Maybe people just stay liquid until they are ready to make a move.

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

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Thank you for sharing this outstanding information!

You're welcome. I try to put it out every Saturday night.

It would have been nice to have reported higher numbers......

That's a lot of work which you've put in. Is the withdrawal/deposit ratio a worrying trend? I'm new and so I guess I'm probably more pessimistic than many. But, deep down, I think the community here has something quite different to offer to anything else out there. I've barely even logged on to FB in the last few days (only to say Happy Birthday to people - just 'cos....!) and that feeling encourages me that others are thinking the same. It's not all about money, although it does a great job, as far as I can see, of keeping the wheels turning in a nice way.

I guess it's only worrisome depending on your timescale. If the ratio increases, the price will probably go down in the short term. But in the long term, I'm quite optimistic about the success of STEEM. Ultimately, it seems the overall market cap of cryptocurrencies in general has more impact on altcoins than anything a specific coin is doing (or even its technical attributes).

I like your way of thinking Luke. Thanks for the reply.

lots of useful info here -- i am grateful for your report

Up-voted Luke. Very interesting to see these stats. I've been watching the price of steem fluctuate daily as of late but haven't thought of your topic as a reason until now. I've been following it to sell my earned SBD's to power up through the internal market. Not that its related but the trend did change this today for me as I'm holding my SBD's waiting for the price to decline. The internal market seems to be holding pretty steady as opposed to the last couple days early in the A.M.

The internal market can be tricky because as the price of all cryptos decline, the price of SBD tends to go up as people want something pegged to a dollar. So sometimes it becomes a wash when selling a rising SBD for a falling Steem. I haven't quite figured it out myself, so sometimes I just hold and hope for a long-term crypto future. :)

Bummer, no seven figure deposits this week. But withdrawals could have been higher. Still plenty of whales holding steem.

By they way, that big deposit last week helped the ratio. Take that out it may not look too different than this week.

The ratio of withdrawing accounts to depositing accounts isn't based one a dollar amount. The final number for the report is the net number regarding the money. The ratio is more about account sentiment, so if we take that one account out, the ratio doesn't change much, but the amount certainly does.

That's helpful to know. Not sure how I missed that. Thanks for clarifying.

Yeah, I'm still a bit confused with it myself but it seems to work for me better than just converting them internally. Much appreciated for the reply as always.

Nearly everything took a beating today, what I really love seeing the most though is on days when a majority of the market is down steem actually was up a few times. This really shows the value of the community we have built here.

Totally random question what type of programming do you do? Javascript, Ruby ?

This is done in PHP. Here's a link to the github repo if you want to check it out. It's mostly just crufty code I created for myself, and I don't think I've committed changes I have locally to it in a while.

Yeah, I still think Steem is a great long term play. That's why in a year I've never powered down.

Sweet thank you! I have the same plan even though I just started not to power down for a long while this community has been awesome and such a wealth of knowledge.

Thanks for sharing Luke, helps a lot!

Thanks for the great content.

Very useful report as usual, especially your commentary with analysis!

Great analysis of the withdrawal/deposit ratio. I was under the same thought process of people withdrawing after HF19. Hopefully the rewards stagnate and people start saving up again. Seeing the rewards go down the past few days looks like that may happen. I give it another week until the rebound

I wonder though, will all of crypto rebound as well? Seems everything is down. Maybe too much ICO FOMO?

That's exactly what I'm thinking. All of the talk of these ICOs, people are eager to get in because of FOMO. Especially Mark Cuban commenting on his own ICO that he's invested in. Everyone wants a piece. The sooner this craze rolls over, the sooner we can see more cryptocurrencies rising again

  ·  2 years ago Reveal Comment