Observation: The circulating supply of STEEM seems to have dropped sharply in recent months

in #blog2 months ago

According to numbers from coinmarketcap(@officialcmc), the total number of STEEM tokens in circulation peaked at 395,458,302 on December 31, 2020 and closed today at 373,596,465. Here's what the graph of number of tokens looks like from the beginning of 2020 (calculated as market_cap / closing_price for a particular day).

image.png

I totally don't understand what happened to those ~22 million STEEM, but that's a pretty remarkable decline. Whatever the cause, it's a heckuva lot of STEEM leaving the market (about 5%).

On a possibly related note, coinmarketcap also says that today's trading volume was $105,641,677. That's the highest trading volume since a single day in March of 2020 and July of 2019 before that.

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