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RE: Steem Total Value Powered Up - $50 million - February 13, 2022
Sorry to bother, but could you add another "Current supply" line chart to your VESTED STEEM chart? Then we could see an interesting picture:
- if the VESTED STEEM line approaches the Current supply line, theoretically it should have a positive effect on the STEEM price;
- If the VESTED STEEM line deviates from the Current supply line, therefore, people do less Power Up and sell more, which may indicate a greater likelihood of falling STEEM prices.
I can't get historic information easily, but I should be able to start collecting it for future reports - maybe this coming weekend or next weekend. In the meantime, I think the graph with the percentage of market cap should be basically equivalent information, since that's just (100 * powered-up_steem * price) / (current_supply * price). If the percentage goes up, then vested_steem is approaching powered-up_steem, and if the percentage goes down, they're diverging.
I don't want to bother you too much. Your statistics are already quite comprehensive.
current_supply can be found here: https://steemit.com/hive-130095/@steem.history/steem-system-config-222-15
The second point can be taken from a similar post, say, six months ago. Draw a straight line on two points and it will be close to the truth. But you don't really have to worry about that.
From your Daily Changes chart, I can conclude that Power Up depends largely on the price of STEEM. People traditionally hold STEEM while the price is high and sell when the price falls, although the opposite should be done. Classic.
The downside is that the linear trend is still downward. Therefore, the bull market can not be expected.
Thanks for the link! I was also thinking that I might be able to estimate it for historical numbers since I have saved the market cap and I can calculate the price from the saved values for USD and number of powered-up STEEM. I don't know if I'll have time this week-end, but I'll try to add this.
I will be interested to see the result.