Steem Total Value Powered Up - $108 million - May 14, 2021

in #steem8 months ago (edited)

Here is the third 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.

As a reminder, I have been tracking the amount of "vested steem" as reported by the blockchain along with the market prices of a handful of cryptocurrencies. Based on the market values, I am reporting the value of powered-up STEEM in terms of USD and a few other tokens.

Noteworthy, this week, the number of STEEM powered up reached a new high, but the powered up STEEM declined in relative value against almost all of the tokens in my little basket.

Here are the numbers as of a few minutes ago.

Total value locked in powered-up STEEM (USD): $108,838,221.80
STEEM market cap $360,126,021.46

Locked value in terms of other tokens:

tokenpricelocked_value equivalent
tron0.12889,731,799
steem-dollars6.8215,958,683
bitcoin49,568.002,195
ethereum4,006.1627,167
litecoin320.09340,023
steem0.93116,639,665

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

VESTED STEEM

For the second week in a row, the number of powered-up STEEM is the highest value I've seen since I began collecting these numbers. It went up sharply during the last couple of days.

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Value of powered-up STEEM in terms of USD

The USD value of powered-up STEEM is down compared to last week and up compared to the week before.

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

More parallel motion for the value of powered up STEEM in terms of TRX.

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Value of powered-up STEEM in terms of Steem Dollars

This is the one outlier in my basket where the relative value of powered up STEEM went up, instead of down during the last week -- just a touch, though.

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

Take this with a grain of salt since market cap numbers switch from coinmarketcap to coingecko with today's data. Still, looks like parallel motion.

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

Nothing remarkable here, but for some reason in my head I benchmark this value against 2,000 BTC, so it looks good in those terms.

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Value of powered-up STEEM in terms of ethereum

STEEM was caught up in the overall market downtrend, but Ethereum is sticking fairly close to its all-time high.

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Value of powered-up STEEM in terms of litecoin

In terms of litecoin, powered up STEEM is down compared to last week and two weeks ago. Overall, it looks mostly like parallel motion since late April, though.

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Notes
  • Reference prices for STEEM and other tokens are downloaded from coingecko.com
  • Steem's market cap was downloaded from coinmarketcap.com (@officialcmc)
  • Beginning on May 14, market cap data is now being downloaded from coingecko at the same time as the prices.
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Every day more and more users turn on their accounts, tell me what it takes for the market capitalization of steem to be more prosperous since steem is outside the top 100 of coinmarketcap.

Do you think jondoe's idea of ​​creating a SteemSwap to make leverage would make the price of the steem go up?

In the end, I think it's about supply and demand, so if his idea increases demand, then yes - I think it would help. My personal opinion is that the best way to increase STEEM's value is still to have more of it powered-up. This reduces the supply in the markets and it also creates more investors who have the "profit motive" and also the ability and motivation to direct rewards to the most valued content creators.

One thing that we have been really bad at here is making the case to recruit curator-investors. If we could get better at bringing in that type of stakeholder, I think STEEM's value would benefit from it.

I understand your point, but I don't understand this part.

Noteworthy, this week, the number of STEEM powered up reached a new high, but the powered up STEEM declined in relative value against almost all of the tokens in my little basket.

Why did the powered up decrease the price of the steem? how did it affect you? if it should be the opposite.

I'm a bit confused how we would hire investor curators? sometimes my neurons don't process some information, when I don't understand something I ask. :-)

I know that promoting steem on social networks would call more users as well as investors but I have noticed that the owner of steemit cares more about advertising Tron than Steem itself since all the news I read about him is always related to TRX.

I think that if Justin gave more publicity to steemit, they would call more investors, but that they are not like what they are in the trend zone always, since they are somewhat selfish, since I can see that they do not support their followers, they only vote among themselves.

Uff.. I got carried away sorry.

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