Weekly report: How much STEEM is stored on the exchanges? - October 10, 2019

in steem •  last month 

Poloniex will unfortunately delist STEEM on October 15 :(
1.5 million STEEM moved from Poloniex to Binance since the announcement. There's is still 8.5 million STEEM stored on Poloniex. I wonder what will happen to all STEEM that is left on the exchange.

The charts below show how much STEEM is stored on each exchange where STEEM is listed.

Rule #1 in the crypto world: Don't store your cryptocurrencies on an exchange!

STEEM stored on all exchanges

STEEM stored on Bittrex

STEEM stored on Binance

STEEM stored on Poloniex

STEEM stored on Bithumb

STEEM stored on Huobi

STEEM stored on Upbit

STEEM stored on Openledger

STEEM stored on Gopax

STEEM stored on SteemEngine

How much STEEM is currently stored on each exchange?

ExchangeBalanceLast weekChange
Bittrex35,780,708 STEEM42,149,824 STEEM-15.1%
Binance28,166,646 STEEM21,065,558 STEEM+33.7%
Poloniex8,458,296 STEEM9,966,437 STEEM-15.1%
Bithumb9,986,549 STEEM9,986,549 STEEM+0.0%
Huobi7,746,072 STEEM7,775,335 STEEM-0.4%
Upbit4,146,667 STEEM4,260,208 STEEM-2.7%
Openledger0 STEEM0 STEEM-
Gopax355,268 STEEM364,294 STEEM-2.5%
SteemEngine527,795 STEEM528,261 STEEM-0.1%

Total amount of STEEM stored on all exchanges: 95,168,001 STEEM
Total STEEM supply: 327,850,614 STEEM
Liquid STEEM: 121,633,296 STEEM

  • 29.0% of the total supply is stored on the exchanges.
  • 78.2% of all liquid STEEM is stored on the exchanges.

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This will be the biggest STEEM sink ever.
My bet is that at least 4 million STEEM will be lost forever...
Bad for people who lose their STEEM on Poloniex, good for the longterm price outlook. It is like instantly burning millions of STEEM...

Why would they burn it? They would just dump them on other exchanges like what Openledger did.

I would expect them on a steam and poloniex to plummet over the next few days. It will interesting to see if he where it gets picked up. Either way getting delisted on any exchange is bad for steem

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Thanks for info. It will be a shame for people to lose their steem on poloniex.

I'm wondering how many transactions were made in/out from exchanges.

Looks like Bittrex and Poloniex are dying and everybody is moving to Binance.

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What happens with the STEEM at Poloinex if it's not withdrawn?

That's what I'm wondering as well.