STEEM Health Check (Looking Good)
So it has been over 20 months that I've been tracking STEEM supply every day. The goal is to gauge STEEM Health. When people are powering up more than powering down, then the masses are making a statement with Crowd Wisdom. When powering up, this enters those funds in a long term contract and they are no longer liquid. People invest those funds into powering up when they believe that investment will benefit them. Take a look and see what the STEEM crowd is doing.
Powering Up has exceeded Powering Down for 8 days in a row. In the last 53 day, there has only been 3 days that power down has exceeded power up. Of those 3 days, only one of those days has been of any significant amount.
Below is the entire data collection of the last 20 months. Just take a look at the recent powering up compared to past history. The 3 large power downs will need to be disregarded as this was Steemit Inc. moving funds to a different location.
Here is a view of the data over the last 8 months. This time frame has been especially hard on the cryptocurrency market. You can see that there is a significant shift towards powering up and retaining SP.
Is this Crowd Wisdom at play? Personally, I think this information may be better than crowd wisdom since this involves currency. When it comes to currency, people will take a more comprehensive evaluation of their holdings to determine where their money should go due to the value associated with it.
What are your thoughts on this powering up?
Do you think that Powering Up will continue to beat Powering Down?
Let me know in the comments
I hope you enjoyed reading my Blog. Please remember to Upvote, Resteem, and Follow. Thank you.
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For a breakdown of Steemit Keys:
https://steemit.com/life/@socky/do-you-understand-your-steemit-keys
For a breakdown of why Steem Power is Important:
https://steemit.com/steemit/@socky/why-is-steem-power-important-beginners-read
How to improve STEEM payment system:
@tipu curate 1
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