Steem Total Value Powered Up - $87 million - November 7, 2021

in #steem11 months ago (edited)

This is next in my series of posts reviewing the amount and value of powered up STEEM on the Steem blockchain. For previous posts, see the end of this entry.

Noteworthy in the last week,

  • In terms of USD, the modeled value of powered-up STEEM was slightly down this week, but remains in a multi-month uptrend.
  • TRX, SBD, BTC, LTC, and ETH all performed strongly this week, which led to a drop in the modeled value against each of those tokens.
  • The number of powered-up STEEM saw three new highs this week, most recently yesterday (November 6), and it gained about 74k STEEM during the week. However, it continued to exhibit the variability that began around October 11.


Here are the numbers as-of a few minutes ago:

Total value locked in powered-up STEEM (USD): $87,501,652.28
STEEM market cap $239,615,063.97

Locked value in terms of other tokens:

tokenpricelocked_value equivalent
tron0.10836,423,922
steem-dollars7.5611,574,292
bitcoin62,985.001,389
ethereum4,615.1618,959
litecoin201.23434,834
steem0.61142,760,083

And here are the charts, based on data collected daily since April 10.

Daily Changes

Here is a chart of daily changes in powered-up STEEM from April 11 to present. The graph also includes a linear trend line and a 28 day moving average. It's starting to look like some sort of change in behavior may have begun in early October and continued for the past month or so. Since the power-down window is four weeks, I'm curious to see what happens next week.

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VESTED STEEM

Continued variability this week with three days bringing new highs.

image.png

Value of powered-up STEEM in terms of USD

Continuing a generalized uptrend that began in June, but down a touch since last week.

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Value of powered-up STEEM in terms of Tron (TRX)

Staying in the lane between 800 million and 1 billion.

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Value of powered-up STEEM in terms of Steem Dollars

The modeled value for powered-up STEEM in terms of SBD fell by about 450,000, or 3.7%, but it appears to still be in a multi-month uptrend.

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Value of powered-up STEEM as a percentage of Steem's market cap

Up a touch, but basically unchanged since last week (and the two weeks before). 11 consecutive days above 36%; 43 consecutive days above 35%; 86 consecutive days above 34%; and 106 straight days above 1/3. Possibly seeing some leveling off during the last month. Will it hold above 36%? Will we go above 37% again?

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Value of powered-up STEEM in terms of bitcoin (BTC)

In terms of BTC, the modeled value for powered up STEEM fell by about 47 BTC, or 3%.

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Value of powered-up STEEM in terms of ethereum

With ETH sitting near all time highs, the modeled value for powered-up STEEM in terms of ETH was down by about 1,700 or 8% from week to week.

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Value of powered-up STEEM in terms of litecoin

A generalized up trend appears to be in place from June until now, but this week the modeled value of powered-up STEEM fell by 22k LTC, or about 5%, since last week.

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Notes
  • Reference prices for STEEM and other tokens are downloaded from coingecko.com
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I wonder if Steemit's new #club5050 initiative will have any significant impact on the amount of Steem being powered up for the platform as a whole?

I agree with you, I think that # club5050 has a lot to do with the increase in power up on the platform since the steemit team multiplies your power up with a generous vote since I have taken accounts of some users who have turned on their account and they have received triple what they invested in power up.

I was wondering the same thing. So far, I haven't seen it, but let's see what happens going forward.... It might take some time to build momentum.

I am monitoring the trend of the steem exchange rate in the last 3 months which is moving up and down slowly which will make steem holders able to maintain their steem assets. The movement of the steem exchange rate has its own uniqueness, it goes up only a few points and even if it goes down only a few points, this is what proves the stability of the steem price.

In this week, it could be that the number of frozen steems is increasing, but that hasn't pushed the steem price up significantly, this is a note. That's why I think we need a more vigorous #promo-steem through our respective social media, with an intense promo-steem we might be able to bring in new investors in steemit.

I noticed, it seems that #club5050 supported by the steemit team has affected the number of people who freeze their steem, let's continue to campaign for steem on various social media that steem is a profitable investment.
Paying attention to the steady movement of the Steem exchange rate in recent months is a note that Steem is a profitable crypto for long-term investment.

Thank you for always updating information.

Cheers! @remlaps-lite, these graphics are very interesting, I believe in the impact that # club5050 will generate, motivating users to invest in steem and that this demand in the market affects the price of steem and that it is currently making a considerable jump in value , which I still do not understand that even with the rise of bitcoin, the price still does not have much variation.

Wow .. I was surprised by the support that the news program that you do every week has had. I think your report makes things easier for the Steemit team to keep up to date on the power up statistics.

It has been a while since I read one of these reports. The number seems to have bumped up massively compared to my last read. Hopefully, the trend continues with the implementation of more promo works and flexible powerup initiatives.

Interesante la tabla de cambios, una guia apropiada para estar al tanto de los movimientos. Saludos.

Aquí hay una tabla de cambios diarios en STEEM encendido desde el 11 de abril hasta el presente. El gráfico también incluye una línea de tendencia lineal y un promedio móvil de 28 días. Está empezando a parecer que algún tipo de cambio de comportamiento puede haber comenzado a principios de octubre y continuado durante el último mes más o menos. Dado que
Interesante la tabla de cambios, una guia apropiada para estar al tanto de los movimientos. Saludos

Steem price may increase before new year and I think It's perfect time for them who want to invest. The #club5050 is really playing an important role to grow this platform and Steem coin. Thanks for this detail analysis.

Staking steem voin in steemit is very wise action here. I always want to stake but can't afford to buy steem enough. But thia time I have bought 300 steem when it was $0.44 and left them. I want to make profit from them and buy more steem by the profit and then stake on steemit. I want to be stable here on steemit.

$87 million is huge. People are day by day becoming encouraged to stake more steem.

good anly one

This post has been featured in the latest edition of Steem News...

I have included this post in the 19th issue of Steem News Magazine For Steemit Platform | November 07, 2021.

We should invite our friends to this platform and encourage them for investing by explaining the benefit of this platform. I hope this is a perfect way to increase the Steem total value powered up. Thank you.

It can be seen that the campaign for the power up has given its results, thank you for showing us and keeping us updated through your reports.

I think the steem promo should really be done, of course with a good understanding we must give it, the more who invest here, the more the value of Steem increases

Steem's total value power has been rising since last month. its a very good news.

Thanks for the detailed updates and stats about our steemit.com.

Kudos!!

@whyaskwhy.

Thanks for the detailed updates and stats about our steemit.com.

Kudos!!

@whyaskwhy.

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