Exchange Transfer Report: 9/24/2017 to 9/30/2017steemCreated with Sketch.

in exchangereport •  2 years ago 


As I started last week, here's a breakdown of the funds on the top exchanges right now. Note, these totals are taken at the moment I manually put this report together, not strictly within the time constraints of the report (so the totals don't directly add up).

Numbers are in thousands so one million would show up as 1,000 K.

ExchangeSTEEMSteem PowerSBD
poloniex21,231 K2 K$1,128 K
bittrex15,373 K4 K$825 K
blocktrades113 K3,636 K$29 K
openledger279 K3 K$38 K

Compared to last week:

ExchangeSTEEMSteem PowerSBD
poloniex22,151 K2 K$1,160 K
bittrex14,140 K4 K$759 K
blocktrades68 K3,631 K$14 K
openledger280 K3 K$38 K

It looks like Poloniex decreased a bit while Bittrex increased. Other than that, not much change.

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:

Price Averages:

  • STEEM: $1.25534
  • SBD: $1.02907

Previous Report:

  • STEEM: $1.01182
  • SBD: $0.93555


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

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: 09/24/2017 to 09/30/2017

First included transfer: 2017-09-24T00:01:12+00:00
Last included transfer: 2017-09-30T23:59:30+00:00

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

@poloniex STEEM transfer total: -1,731,363.800
@poloniex SBD transfer total: -37,947.438
@bittrex STEEM transfer total: 2,469,629.422
@bittrex SBD transfer total: 225,453.450
@blocktrades STEEM transfer total: 156,472.268
@blocktrades SBD transfer total: 31,196.643
@openledger STEEM transfer total: 8,810.282
@openledger SBD transfer total: -85.150
@hitbtc STEEM transfer total: -120.067
@hitbtc SBD transfer total: -1.880
@changelly STEEM transfer total: -52,877.534
@changelly SBD transfer total: -261.382 STEEM transfer total: 12,229.688 SBD transfer total: 0.000 STEEM transfer total: 0.000 SBD transfer total: 0.000 STEEM transfer total: 6,063.453 SBD transfer total: 233.406

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

Total STEEM transferred: -868,843.712
Total SBD transferred: -218,587.649
Total USD transferred: ($ 1,315,638.02)

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

Accounts withdrawing: 3099
Average withdrawal amount: ($       572.64)
Median withdrawal amount: ($        27.55)

Accounts depositing: 379
Average deposit amount:  $       148.11
Median deposit amount:  $        75.38

Ratio of withdrawals to deposits: 8.18/1


AccountNet Transfer Amount
1happychau123:($ 133,915.63)
2julianita:($ 125,534.30)
3smooth-a:($ 124,715.75)
4topinvestor2021:($ 89,647.05)
5alpha:($ 87,874.01)
6teamsmooth:($ 66,474.14)
7hyndai:($ 57,342.74)
8supercomputing:($ 43,937.01)
9jejujinfarm:($ 37,358.96)
10cryptomiles:($ 34,068.93)
11korbit:($ 32,075.23)
12dan:($ 31,383.58)
13eeqj:($ 25,106.86)
14originate:($ 25,106.86)
15fatboy:($ 18,820.74)
16modprobe:($ 16,912.81)
17kwak:($ 15,064.12)
18craig-grant:($ 14,873.01)
19mr11acdee:($ 14,470.34)
20rcarter:($ 14,343.55)
21cass:($ 14,324.56)
22paco-steem:($ 11,415.40)
23davebrewer:($ 11,004.34)
24charleslakamp:($ 10,687.97)
25jamesjarman:($ 10,396.10)
26crypto-p:($ 9,991.56)
27steemfest:($ 9,674.53)
28benjojo:($ 9,069.53)
29speda:($ 8,988.26)
30cljg918:($ 8,831.61)
31wans:($ 8,716.73)
32tfdangerzone:($ 8,398.26)
33sigizzang:($ 7,866.17)
34jacor:($ 7,553.34)
35dart:($ 7,545.87)
36furion:($ 7,532.06)
37steemstermon:($ 7,532.06)
38dirkzett:($ 7,179.16)
39alex:($ 7,114.03)
40gigafart:($ 6,814.56)
41xeroc:($ 6,637.09)
42salva82:($ 5,563.83)
43peacephilpanda:($ 4,979.57)
44kaylinart:($ 4,866.25)
45marginal:($ 4,768.55)
46earth-style:($ 4,721.65)
47oceancoinz:($ 4,676.71)
48ajvest:($ 4,676.52)
49roelandp:($ 4,640.75)
50timcliff:($ 4,519.23)


AccountNet Transfer Amount
1damarth:$ 72,681.79
2enki:$ 23,668.27
3papa-ephraim:$ 23,053.20
4hedone:$ 20,086.71
5nomos:$ 20,086.71
6dike:$ 20,086.71
7demeter:$ 20,086.69
8ponos:$ 15,881.31
9techne:$ 13,371.60
10ibk:$ 13,044.38
11signalandnoise:$ 12,553.43
12bitcoincompany:$ 9,805.40
13luckygamesio:$ 9,189.74
14staticinstance:$ 8,787.40
15bramd:$ 8,178.70
16domtyler:$ 8,135.43
17spinbunny:$ 7,908.66
18egaddad:$ 7,532.05
19hwawol:$ 6,875.78
20crypto-guru:$ 6,329.21
21angelol:$ 5,164.29
22divraj:$ 4,280.43
23alanscott:$ 4,206.95
24wizardofwhere:$ 3,912.05
25gluk73:$ 3,611.05
26libertyteeth:$ 3,324.12
27peterhunsd:$ 3,261.77
28nicolasand:$ 3,112.75
29krakar:$ 2,538.93
30ashe-oro:$ 2,438.74
31dougkarr:$ 2,395.51
32steem-press:$ 2,325.69
33starkadd3r:$ 2,246.99
34najs1crypto:$ 2,188.34
35xiucat:$ 2,162.80
36kimsungmin:$ 2,131.55
37elmato:$ 2,058.12
38sriganesh:$ 2,039.11
39lavater:$ 1,891.00
40kwakumax:$ 1,883.00
41enazwahsdarb:$ 1,788.07
42tt-dogg:$ 1,786.12
43yaakov105:$ 1,780.02
44dobot138:$ 1,714.20
45suppoman:$ 1,668.54
46euey:$ 1,493.92
47envyu69:$ 1,491.36
48brandonmathis:$ 1,470.24
49picokernel:$ 1,419.56
50topkpop:$ 1,401.94

Withdrawal to Deposit Ratio by User Count over Time

click the image for an interactive graph


  • Unfortunately the withdrawal to deposit ratio jumped back up to 8.18 to 1.

  • The top three withdrawing accounts are over $100k each. Wow.

  • We saw a nice rise in STEEM price with the formal annoucement of Steem Media Token. I'm really curious to see what will happen when this goes from concept to reality.

  • The powerdown amounts for next week is in the green at 19.49%. I'm publishing this again on Sunday night as I have the last few weeks, so keep that in mind.

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 was pretty happy to see all the volume on the chart at the end of the week. Definitely a nice surprise.

I'm also kind of surprised at the withdrawal to deposit ratio and the amount of STEEM being sold into the rally as it may just be getting started. I understand that some people make part of their living from the rewards they get and others have been here awhile and maybe they're ready to cash out some gains...but it seems there's a good chance that we could see STEEM go a lot higher in the coming months and years.

I'll be holding onto mine in the form of STEEM Power for the foreseeable future.

Same here. I've been powering up all my posts lately. No need for SBD right now. I think the future for STEEM is very bright.

It is normal to see changing hands of these assets, as what we have seen in the case of bitcoin. The point is how well steem and steemit will go in the future. Different people have different interests, I do not feel surprise if they do not show faith to Steemit.

  ·  2 years ago (edited)

"Ratio of withdrawals to deposits: 8.18/1"

Does this ratio only factor the top 50 accounts or is the ALL activity on the network for the week?

It's all activity for the week.

Ok. Thanks. This ration is probably the most important number to keep an eye on as far as platform health and overall Steem price forecasting.

Keep in mind it's based on account numbers, not actual users (i.e. human beings) or on Steem Power or STEEM. So it's a somewhat subjective ratio to monitor. One person might control many accounts and be regularly transferring from all of them to an exchange which would throw off the numbers a bit. That said, I've been monitoring the ratio for over a year, and I do find it quite interesting.

Also, thanks for your other comment about looking into what the white papers says about self-voting (voting abuse) and the need for down-votes to protect the quality of the site and the rewards pool. You can learn more from this post as well: Hey Steemit. Let's Talk About Flagging. Again.

What's up with the self-voting comment spam? Seems you're giving yourself $0.68 per emoji thumbs up?

I really don't see a problem with this. If someone wants to invest in Steem and post emoji and self-vote, I think they should be able to without any push back. Steem is an interesting experiment and this is a fundamental part of it.

Read the white paper, pages 14 and 15. This is considered "voting abuse" and it's the reason down-voting is so important. If everyone self voted for value-less comments, the quality of the entire site (and STEEM itself) would go down for everyone. Don't take my word for it. Read the white paper.

Thanks, I'll check out the white paper. I really don't know much about down-voting on Steem to be honest.

Whats wrong with this luke?

The main concern is spam abuse. A single emoji thumbs up doesn't add any real value to the network. Combined with that, self-voting essentially pulls money out of the rewards pool for content that does not add value which is counter to the purpose of this reward system. You can read the white paper (or more recent "blue paper") for more details on this, but be aware, many (including myself) feel justified flagging for "disagreement on rewards" for self-voted comments which don't provide value for the network. In essence, if everyone did what you are doing, a vote would become meaningless noise and the value of everyone's investment here would go down. Discouraging that behavior is how we all should protect our investment. I had a discussion about this a while back and there have been many others here as well if you look around.

Yes totally understand where u coming from, But i am small fry compared to all the big players out there that do this with the huge power per vote. If steemit didnt want this to hapoen why give this option to them. why not take it away? Why should somebody get flagged for somebodys objective opinion. When the steem platform offers this. I only tend to do this when I am on the move amd havrnt got time to write a blog. But your points are taken on board and I did give you a vote on your post so all wasnt bad! 👍

If behavior is immoral or detrimental to the network, then the extent of the behavior does not change this.

why not take it away?

Read the white paper. It's not possible to take it away due to Sybil attacks (i.e. people could just use other accounts they own to vote up their comments). The best approach is to make it clear when this is happening so people can appropriately flag the behavior to prevent it.

Why should somebody get flagged for somebodys objective opinion.

Again, read the white paper. In this case, it's not completely subjective. There is a strong argument that this activity is an abuse of the rewards pool that is essentially owned by all Steem Power holders.

Luke thanks for the response! I will look into alternative ways IE steem voter-guilds! 👍

Thanks. I do really encourage you to read pages 14 and 15 of the Steem White paper. It won't take long at all.

Wow an 8 to 1 ratio! Funny i didn't recognise any of the withdrawal names with the exception of @davebrewer. The top 3 above $100K must have been quiet whales.

Hello @lukestokes

Thanks for this data feed. It keeps one on top of information and will be very useful in taking vital decisions. Thanks a lot


I personally think bittrex is a better exchange platform thats the reason for the increase,,, and so many people are exchanging their sbd for steem since the smart token announcement

wow - what thorough report and well thought out report. Question: On the top 50 withdraws charts - are those total lifetime withdraw or is that just this week or something? Thanks

Just this week.

That's insane!!

i enjoy these updates Luke !! - ))

Since you have your finger on the pulse .. do you feel, that STEEM is an ALT coin used, to hedge against CRYPTO down turns ?? .. in that, wouldn't it be great to know the 'intentions & motivation' of large investors, moving in and out of STEEM ?? - ))

DO you know of any posts, written about SBD as a 'hedge' and / or .. the implications of say a $ 50 STEEM .. on the SBD peg ?? i'm just wondering how the economics 'change' .. as the STEEM price goes UP & STEEM gains a much wider audience ??

.. thanks again for the conversation yesterday - ))

HappY SUNDAY !! - ))

lovelovelove )))
greb'Z )

In theory, any USD pegged asset is a good hedge against big downturns in the cryptocurrency markets, but personally, I'd rather stick with cryptocurrency long term and just ride it out:

i'm in the same boat .. sticking it out - ))
.. is that a Crypto Market Cap chart ?? - ))
= WoW !! - ))

i was thinking of the 'whale' habits in considering the hedge question .. i wonder how they see the SBD peg ?? - ))

.. thanks for the reply - ))

Thanks for the update , soon we will be seeing more deposites than withdrawals especially after the updates ...hope you are feeling better