Steem Total Value Powered Up - $88 million - October 10, 2021

in #steem2 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,

  • With almost 142 million powered-up STEEM, the streak of consecutive new highs was extended to 35 days
  • The highest single-day total increase was observed on Oct. 7, with a daily increase of 1.1 million STEEM
  • Yesterday, Oct 9, a new high was observed in percent of market cap powered up. That high was 36.77%.
  • It's not part of this data, but I also happened to notice that (according to historical numbers from coinmarket.com), the highest trading day for STEEM as a percentage of market cap. happened on Oct 6. On that day, the 24-hour trading volume was 2.119 times the market cap. The previous high was 1.834 on May 20, 2020. Throughout Steem's entire history, there have only been ten days where trading volume exceeded market capitalization. The most recent previous time was March 23, 2021.
  • In terms of LTC, the modeled value of powered-up STEEM is at the highest levels seen since mid-April.
  • I'm posting a little early this week because of conflicting plans this afternoon, so I don't have Sunday's downloaded numbers yet. As a result, these results might change slightly in future reports.


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

Total value locked in powered-up STEEM (USD): $87,598,922.80
STEEM market cap $243,076,059.39

Locked value in terms of other tokens:

tokenpricelocked_value equivalent
tron0.10865,063,476
steem-dollars7.9611,004,889
bitcoin55,190.001,587
ethereum3,551.9124,662
litecoin180.30485,850
steem0.62141,812,376

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. The highest single-day gain since I began tracking happened this week, with a gain of 1.1 million STEEM between the October 6 and October 7 downloads.

image.png

VESTED STEEM

35 consecutive days of new highs with a gain of about 2.1 million since last Sunday.

image.png

Value of powered-up STEEM in terms of USD

Up by about 17% since last week's download.

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

Up by about 9% since last week, and solidly back in the 800 million to 1 billion range.

image.png

Value of powered-up STEEM in terms of Steem Dollars

Up by almost 5% since last Sunday

image.png

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

4 consecutive days above 36%; 15 consecutive days above 35%; 58 consecutive days above 34%; and 78 straight days above 1/3. Will it hold above 36%? Will we see 37%?

image.png

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

Up by about 2% since last week.

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Value of powered-up STEEM in terms of ethereum

It's not obvious from the graph, but the modeled value for powered-up STEEM increased by 12 1/2% since last Sunday.

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Value of powered-up STEEM in terms of litecoin

Up by about 10 1/2% since last week. This week's values - above 490,000 - had not been seen since April.

image.png

Notes
  • Reference prices for STEEM and other tokens are downloaded from coingecko.com
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4 consecutive days above 36%; 15 consecutive days above 35%; 58 consecutive days above 34%; and 78 straight days above 1/3. Will it hold above 36%? Will we see 37%?


This is an interesting question. Of course, the strengthening of the exchange rate is the hope of all of us.
According to my instincts, this week will probably reach 37%, even above that. Usually the steem exchange rate, after strengthening at $0.62 will continue to strengthen up to the range of $0.82. This is not analysis, but just my intuition and my hope. :-D

Thanks for the reply. I also think we're going to go over 37% at some point. It might take longer than a week, though. We'll see.

Seeing the reference of your weekly publications, the amount of power up in the last month and a half has been constant although there was a drop in the amount at the end of September and the beginning of October.

Right. The price of STEEM has been staying within a fairly tight trading range during that time frame, too.

I am really very glad to see that Steem total value powered up has increased to $88 million. I hope it will cross $90 million in next week. Thank you for this details analysis.

Why did the total value of steem power up increase from last week?

Is it only because of the strengthening of the exchange rate, or is it influenced by the total amount of steem that we all freeze on steemit?

Thanks for sharing to us

It was a combination of two factors: The number of powered-up STEEM increased by about 2 million, and the price of STEEM increased by about $0.08, or 15%.

I heard this morning in the news that this will be the month in which cryptocurrencies will increase in value, obviously from the hand of BTC, and it seems that this will be the case, the price of BTC has increased, hopefully the price of steem will also increase and TRON, that would be great, all this power-up helps, no doubt

Your information is interesting, so we must be attentive to fluctuations in Steemit and take advantage of the hikes. Thank you, blessings,

Thank you for showing us these graphics, we observe not only how solid the platform is, but also the trust that people are placing in it.

With the strengthening of the steem exchange rate, the value of steem power against the USD is also increasing, compared to last week.
I'm always optimistic, steem and the steemit ecosystem are a profitable investment choice. Thank you @remlaps-lite for always updating information for us

You have improve your skill of making graph beside providing us some important information of STEEM price chart and make valuation. Thank you.

Your post is very important and informative for all steem users and steem holders.
I believe it will be gradually power up.
I always admit that steemit is the mother of all coinbase sites.

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