Did you notice the switch? Web sites are updating STEEM's circulating supply again...

in #cryptocurrency2 years ago (edited)

A few weeks ago, I posted What is STEEM's market capitalization?, where I noted that web sites like CoinGecko, CoinMarketCap, and even Yahoo! Finance, had pinned STEEM's circulating supply at 394,951,699 for almost a year, so I wasn't sure how market capitalization was being calculated.

STEEM circulating supply, November 7, 2022

Yesterday, when I noticed that the percentage of powered-up STEEM had suddenly dropped from more than 42% of market cap to less than 40%, I was puzzled at first, but today I found the explanation by glancing at the circulating supply on those web sites. It's now reporting at 421,076,090.38.

STEEM circulating supply on December 3, 2022

This is an increase of a bit over 6%, which seems in line with what I know about STEEM's inflation rate during the last year, and it's also fairly close to the value reported for current_supply at steemdb.io.

As I understand it, this means that from the perspective of these web sites Steem's marketcap probably would have increased from about $69 1/2 million to about $74 million (based on $0.176 per STEEM). According to the current rankings at coinmarketcap, this corresponds to an advance on the rankings board of 14 positions, from about 270 to 256.

STEEM market cap rank at coinmarketcap: December 3, 2022

Presumably, we have Steemit to thank for getting the api fixed, so... Thank You @steemcurator01!


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We are at the end of the year, I hope that the next one will bring us hopeful prices

steemcurator01 has done a lot for the development of the platform. Thank him very much for that! Thank you for the clarification.

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Everyone actively brings benefits to the site, someone with their articles, someone invests real money. Of course, the actions of the stimcurator1 only strengthen the coin and the platform. And I also like that they are actively engaged in charity work on the platform.

sbd is not produced because steem price is low and sbd price is high. instead, extra steem is included in circulation