Further Investigation on @steemit Powering Down 71 Million Steem Power
I wanted to continue the discussion I posted yesterday entitled @steemit Powering Down 71 Million Steem Power. What's Going On?.
@showtime24 did some good investigation on a comment on that post, I wanted to write about this further. As noted yesterday @steemit is powering down 71,456,822.169 Steem Power. But you can also see that 4 days ago 374350.341 was transferred to @steemit2
When look at the wallet for @steemit2, it sent Steem to multiple wallets, such as @alpha. Now, look at all the transfers from those wallets, many of them are being sent to Bittrex and Poloniex.
So what I’m gathering is @Steemit is powering 71 million Steem Power. Transferring some of that to @steemit2. From there many of these wallets are cashing out to Bittrex and Polniex.
This has me majorly concerned
I’m long the Steem platform because I believe in it; however, I get concerned when I see whales cashing out.
What does this all mean? Is there a good explanation for this or are the major players seeing something coming that we don’t?
I’d love to get your feedback.
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The USD, precious metals, and cryptos all under pressure at the same time?? Wtf?
Cryptos under pressure, since they started trading on the Futures Market. Is this a way for the Big Banks to control the price of cryptocurrency, since they have no other control?
Is this why the heavy hitters here on Steemit have been cashing out over the last few days? Did they know this was coming?
These are the questions to ponder...
True.
Steem will need real cash to expand their own development interests. Or some money laundering going on :-D Zuckerberg cashed out some of his stock too... Steem deserves some take.
I'm hoping they are just using it for more servers etc in anticipation of a big announcement. Maybe they are just taking profit off the table. Who knows?
it's never a bad idea to diversify and take some profit when things are going well
True but 71 mill of SP is a lot
You got a 42.81% upvote from @upyou thanks to @kp138!
great post for me. thanks
Thank you @kp138 for making a transfer to me for an upvote of 3.74% on this post! Half of your bid goes to @budgets which funds growth projects for Steem like our top 25 posts on Steem! The other half helps holders of Steem power earn about 60% APR on a delegation to me! For help, will you please visit https://jerrybanfield.com/contact/ because I check my discord server daily? To learn more about Steem, will you please use http://steem.guide/ because this URL forwards to my most recently updated complete Steem tutorial?
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