Powerdown Statistics #12 - May 19th - June 2nd

in #exyle2 years ago (edited)


Every two weeks or so I like to compare the current power down statistics and see how we stand.

Here they are:

19 May 2019

STEEMPOWER198,8 million
LIQUID STEEM111,6 million
SBD8,9 million

Virtual Supply ≈ 335,463,016 STEEM

2 June 2019

STEEMPOWER198,9 million (+0,1 million)
LIQUID STEEM112,5 million (+0,9 million)
SBD8,9 million (no change)

Virtual Supply ≈ 333,948,202 STEEM

It seems after many many weeks that the inflation is finally back on track.

SBD conversions to STEEM have almost stopped completely and therefore no 'extra' STEEM has been added to the supply because of that.

That's great news.

You can also see this fact in the virtual supply. The amount of SBD is the same as last week but if all that SBD could be converted to STEEM right now it will add less STEEM to the total supply of STEEM then 2 weeks ago.

In other words, conversion at these prices is pointless, unless you feel altruistic and want to lower the supply of SBD by yourself.

I would recommend using the internal market for now if you want STEEM.

There are still people powering down adding to the liquid STEEM supply but luckily not that much. It seems all the major power-downs have subsided for now.

The amount of STEEMPOWER has increased with 0,1 million.

All in all, the numbers look good this week. I'm happy.

STEEM price

I do some amateur TA from time to time.

I have been following this chart for a while. It's STEEM/USD.

Screenshot 2019-06-02 at 08.49.49.png

Price is getting squeezed. From what I learned and seen it's usually followed by a big breakout either to the top or bottom.

The fact that the MA200 is involved in the chart as well makes this even more interesting. The MA200 is a very important long term trendline.

We are currently trading above the MA200. But the MA200 itself is still pointing down indicating a bearish trend.

But it's also ever so slightly turning the other way and it will eventually turn and point up as long as we are able to trade above it.

When it turns it will confirm for me that the bottom for STEEM was $0,21 on the 16th of December.

But we are not there yet.

Interesting times for the STEEM USD price.

Especially when you zoom out and look where we are on the chart.

Screenshot 2019-06-02 at 09.24.56.png

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SBD conversions to STEEM have almost stopped completely and therefore no 'extra' STEEM has been added to the supply because of that.

...I actually had no idea that when people did the three day conversion thing, it was destroying SBD and creating Steem. I thought it was just basically trading with Stinc's supply, because I figured they had a big ass bag. Shows how non-techie I am, I suppose. LOL So thanks for the information! Learn something new every day.

Your welcome and I'm glad you found it useful! Thanks for your nice comment!

Your welcome and I'm
Glad you found it useful! Thanks
For your nice comment!

                 - exyle

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We need more STEEMIAN who can hold more and more STEEM month

I have a question is it better now to power up 100% or leave the setting at 50% if you are making a post. 🙈

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I would suggest 50/50 now. It gives more options.

If you want more STEEM you can always use your SBD payout straight away to buy STEEM on the internal market but if you want to use it for something else you have that option.

Good reading about the statistics you are a great leader about preservation of calm.

Yes... I really hope a bottom is reached ✊ The potential at least could be huge 🙂

Things are looking prettyyyyyy good!!

More people would power up than power down if they lowered the powerdown time to 7 days.

Seems like good news to me!

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steem at such a critical phase time to shoot it up

It does seem like consolidation could be maturing into something like a new trend in thr coming weeks! Fundamentals can help sustain the price so I think the logical direction is higher.

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To get liquid steem or steem power, we should concentrate to our blockchain and used its platform. There is some good news from crypto market that it will rise if we engage more active steemians and other site too, till good luck.

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That is a crazy chart right there. I am basically just in a wait and see mode. There isn't much I can do that will make the price go either direction. I think a lot of us are just along for the ride.

Excellent technical and fundamental analysis on SBD and STEEM .

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