Exchange Transfer Report: 8/13/2017 to 8/19/2017

in exchangereport •  2 years ago  (edited)


This week's report is a few days late as I was at an eclipse camp out this weekend, and it took some time to recover.

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: $1.13783
  • SBD: $0.78223

Previous Report:

  • STEEM: $1.32266
  • SBD: $0.93704


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

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: 8/13/2017 to 8/19/2017

First included transfer: 2017-08-13T00:07:51+00:00
Last included transfer: 2017-08-19T23:59:57+00:00

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

@poloniex STEEM transfer total: 81,355.063
@poloniex SBD transfer total: 0.001
@bittrex STEEM transfer total: 634,813.980
@bittrex SBD transfer total: 100,071.075
@blocktrades STEEM transfer total: 148,871.008
@blocktrades SBD transfer total: 33,921.810
@openledger STEEM transfer total: 11,761.710
@openledger SBD transfer total: 753.848
@hitbtc STEEM transfer total: 1,445.423
@hitbtc SBD transfer total: -345.947
@changelly STEEM transfer total: -94,798.599
@changelly SBD transfer total: -1,435.389 STEEM transfer total: -19,926.092 SBD transfer total: 0.000 STEEM transfer total: -35,042.552 SBD transfer total: 0.000 STEEM transfer total: -13,809.720 SBD transfer total: 276.331

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

Total STEEM transferred: -714,670.221
Total SBD transferred: -133,241.729
Total USD transferred: ($   917,397.13)

------------ Total Transferred, Excluding Steemit Account ------------

Total STEEM transferred (excluding steemit): -714,670.221
Total SBD transferred (excluding steemit): -133,245.719
Total USD transferred (excluding steemit): ($   917,400.25)

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

Accounts withdrawing: 2922
Average withdrawal amount: ($       388.44)
Median withdrawal amount: ($        20.22)

Accounts depositing: 316
Average deposit amount:  $        74.48
Median deposit amount:  $        56.87

Ratio of withdrawals to deposits: 9.25/1


AccountNet Transfer Amount
1alot:($ 113,782.74)
2fermion:($ 70,380.67)
3paco-steem:($ 49,394.61)
4fuzzyvest:($ 40,420.46)
5originate:($ 39,937.74)
6drunchpunk:($ 33,847.47)
7cass:($ 25,904.89)
8val:($ 25,233.18)
9korbit:($ 20,628.79)
10coldstorage1:($ 17,067.41)
11speda:($ 17,000.28)
12craig-grant:($ 16,566.66)
13lifewordmission:($ 12,365.94)
14rainman:($ 11,378.27)
15mohamedgahmed:($ 11,104.27)
16jinh0729:($ 10,246.14)
17webwizards:($ 9,891.08)
18summon:($ 9,644.97)
19trevonjb:($ 9,157.91)
20jejujinfarm:($ 8,808.82)
21kingscrown:($ 8,739.84)
22qubes:($ 8,427.81)
23cljg918:($ 7,990.05)
24neptun:($ 7,964.79)
25kb720k:($ 7,829.11)
26gekan:($ 7,589.31)
27robert-call:($ 7,051.51)
28inchonbitcoin:($ 7,008.70)
29furion:($ 6,604.16)
30gigafart:($ 6,427.31)
31toxic:($ 6,219.86)
32onceuponatime:($ 6,037.11)
33xeroc:($ 6,001.71)
34yan-kovalenko:($ 5,784.65)
35philtse:($ 5,678.67)
36novina:($ 5,327.01)
37nrg:($ 5,082.43)
38mix1009:($ 5,005.53)
39steemrollin:($ 4,908.59)
40mr11acdee:($ 4,892.66)
41voluntary:($ 4,833.10)
42katyakov:($ 4,749.41)
43asksisk:($ 4,619.58)
44nextgencrypto:($ 4,610.29)
45thecryptofiend:($ 4,559.09)
46superremnant:($ 4,509.60)
47james212:($ 4,397.11)
48erath:($ 4,327.70)
49marginal:($ 4,312.56)
50fatamorgana:($ 4,209.96)


AccountNet Transfer Amount
1czechglobalhosts:$ 48,030.60
2abigail-dantes:$ 27,307.87
3asaddique:$ 14,706.40
4changby:$ 10,923.12
5hwawol:$ 10,609.50
6prameshtyagi:$ 7,503.96
7simonjones:$ 6,162.97
8richardroe:$ 6,064.59
9kmyang62:$ 5,713.01
10bigbigtoe:$ 3,063.94
11euey:$ 2,790.67
12nabil:$ 2,701.57
13criptomania:$ 2,619.26
14craftybadger:$ 2,174.57
15tonyson4078:$ 2,059.06
16michaeldavid:$ 1,859.59
17sportsenthusiast:$ 1,822.90
18stellabelle:$ 1,820.50
19rene1989:$ 1,706.73
20frozenxplosion:$ 1,706.73
21spx464:$ 1,529.22
22sambyte:$ 1,491.70
23coinlend:$ 1,379.29
24procryptix:$ 1,248.37
25unrared:$ 1,246.41
26sophial:$ 1,173.00
27balla:$ 1,140.28
28oregonpop:$ 1,137.82
29conseiller:$ 1,137.80
30crypromenace:$ 989.58
31jonykc:$ 989.45
32tonimarco:$ 988.28
33carlos145:$ 938.25
34ccomputerphile:$ 915.93
35guybrush:$ 912.69
36around-z-block:$ 909.82
37igormuba:$ 901.41
38keanhong:$ 891.94
39moala:$ 890.49
40gardenofeden:$ 886.62
41oroger:$ 853.36
42djohn:$ 853.35
43borepstein:$ 831.72
44seneca666:$ 796.46
45dockarl:$ 768.01
46klygen:$ 736.03
47mikeaga888:$ 675.87$ 674.34
49shbour:$ 630.60
50boydman:$ 618.32

Withdrawal to Deposit Ratio by User Count over Time

click the image for an interactive graph


  • The withdrawal to deposit ratio continues to climb at 9.25 to 1. STEEM has to be valued and held for this to change.

  • The SBD price dropped quite a bit this week. If that continues for some time, it may eventually need some help with the re-introduction of an interest rate or a price feed bias (something some witnesses are already starting to signal).

  • Well, it looks like @alot really did have a lot and wanted to do something with it this week. Funny to see the transfers on their wallet page to similarly named accounts @abit, @afew, @abunch, @aload, @alittle, @aton, and @apinch.

  • @czechglobalhosts topped the depost list last week as well. They seem to be pretty serious about owning Steemit influence.

  • I see a lot of familiar old-school accounts on the withdrawals list. It's nice to see @stellabelle on the deposit list as a reminder not everyone who's been here a while is so concerned with cashing out right now.

  • The powerdown amounts for next week look much better and in the green 31.27%. Maybe that's why we started to see a bit of jump in STEEM price to start this week off.

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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I think that there needs to be some thought on how to bring more "value" to steem and sbd. You either want to have people investing equal to the amount cashing out or convince people not to cast out because they can do more with steem than with a local currency.

One possibility (that most social media apps already do) is to ad advertisements. You could make them only purchasable by Steem. This would cause companies to purchase the Steem with some other sort of currency. This investment into steem would hopefully counteract users who are cashing out. I would hope that the Steem used to purcahse the ads would then be spread out to steemians who choose to have the ads displayed on their posts.

Another option would be to create a Steem Market place where vendors could sell items for Steem. Your steem has value in the community so you may not cash out. The one risk here is that the venders could then just cash out.

I also have stumbled upon #steemgigs where steemians can post freelance work and can be paid in SBD. Again, this brings value to steem as you can use it as payment rather than cash out. To bring more value the hope is that people would transfer currency into steem to pay and that the payees keep the steem in steemit rather then cashing it out.

Darryl @dadview

The promotions tab is supposed to help, but few use it, unfortunately. You burn SBD to promote a post which, in theory decreases supply of SBD which should increase value of existing SBD. I'm still hoping <a href='">this plan for world domination will still happen at some point in the future. That was one thing I was the most excited about when I first joined Steemit. I was sad to see Dan leave the team because of this vision, and I don't want it to die.

But yes, I think posts from the promotion tab sprinkled within existing feed content would be a nice way to go. It could even start as a setting people could opt out of if they didn't want it (but default it on to begin with). My hunch is, the promotion content would become more important overnight if that happened.

Just got a chance to read his post about a steemit marketplace. I agree.
This would be a great step in the right direction. As stated before, we wouldn't want the merchants to then go and cash out as well. Hopefully if people are buying with SBD, they will then reinvest to continue to have more in their account.
It would be great if the merchants had to pay a fee in steem or could pay for advertising similar to how you state the promotions tab works.

alot's name really does some up how much he withdraws.
Sad to see so many people powering down and moving money away from the steem blockchain but they will most likely regret it in the future and steems value begins to grow when the platform has millions of users.

At least we have people making deposits and staying committed as they sow the seeds to a beautiful future with steemit.

Thank you for the analysis and report @lukestokes! :)

Very good analysis @lukestokes which relates to my latest post on why people fail on steemit. Hopefully we will see more members signup and increase in deposits. Thanks for sharing, upped.

Great post, Charles. I agree and what you wrote aligns with what I was thinking about a year ago as far as the true currency of Steemit.

  ·  2 years ago (edited)

wow what a post ( thanks for sending me the link) ...your post is so good and have sparked another idea for my new post. I agree with you and believe that many people see it diffrently hence the failure and whining. Glad that we have great steemians like you that shares the truth...hence why you always earn my upvote. Thanks for your support and kindness

Withdrawal to deposit ratio looks like a good sentiment indicator :-)
I do only Bitcoin trading so not following this one at the moment, but the report looks good !

My trading daily bitcoin at:

Great post.

How come people have the About the same name. @bit, @few, @load. I'm trying to register for my account but I can't. Can anyone help me how to register

When you say you're trying to register for your account, what do you mean? Are you trying to create new Steem accounts you pay for yourself? If so, this may help.

Yes. That what I was looking for. Than u very much

Great posting.. thank for the explanation.. I keep wondering why sbd and steem keep lower.. people keep take profit from their rewards..

nice to see ur report of top 50 and u work on it to make this exellent @lukesokes

nice post

Too bad to see so many people withdrawing, sadly I am powering down as well for another few weeks since I need the money :-/. But if I was investing I'd be buying more Steem for sure.

Thank you for your dedication and the explanatory post. I am keeping investing in steem power and believe truly in this project and the people putting steem in deposit are doing the same :) happy happy

great post

@lukestokes - As usual, a great report. I especially liked the commentary. The climbing withdrawals to deposits ratio and the continued trend of heavy weights withdrawing Steem worries me. I agree with you that Steem has to be held for confidence and value to increase. I have seen that there have been quite a few large withdrawals after the lock in period ended.
Perhaps it is the effect of bitcoin being in a rally - maybe some people are trying to convert Steem in to bitcoin and then convert back after making a profit. What is your opinion?
Also - it is amusing to see the activity on @alot account that you have pointed out but I do not understand what is going on there. Can you please let me know your views on that?
Thanks for the report. Upvoted

Those accounts are all owned by the same person, I think. As to why they are moving funds around, no idea.

Yeah, it's quite possible people are riding the bitcoin bull or even something else like NEO, OMG, SAN, IOTA, 0x, etc. I talked about that recently. Why would people stay in STEEM between $1 and ~$1.50 if they can make 2x, 3x, or 10x their money on some new ICO?

That makes sense. Yes - I had read your article about the new coins and ICOs. Thanks.

excellent your post congratulate you 🔟💵💵✅ 👍