Steem Total Value Powered Up - $48 million - February 27, 2022
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,
- The number of powered up STEEM increased by about 850 million, or about 1/2%.
- As a percentage of market cap, the modeled value for powered up STEEM stayed above 37%, reaching a new high of 37.74% yesterday (Feb. 26).
- The modeled value for powered-up STEEM gained in strength against USD and all comparison tokens.
- The number of STEEM powered down declined from 540K last week to 520K this week. The schedule for pending power downs during the next week shows an additional decrease to 310K.
- The week's headlines have been dominated by news that Russia has invaded Ukraine. This has had substantial impact on financial markets and crypto markets.
Here are the numbers as-of a few minutes ago:
Total value locked in powered-up STEEM (USD): $48,133,227.46
STEEM market cap $126,559,332.59
Locked value in terms of other tokens:
| token | price | locked value equivalent | Jan 1, 2022 | pct of Jan 1 baseline |
|---|---|---|---|---|
| tron | $0.06 | 826,463,383 | 809,173,538 | 102.14% |
| steem-dollars | $4.25 | 11,325,465 | 11,284,131 | 100.37% |
| bitcoin | $37,649.00 | 1,278 | 1,300 | 98.35% |
| ethereum | $2,619.15 | 18,377 | 16,501 | 111.37% |
| litecoin | $103.21 | 466,362 | 411,561 | 113.32% |
| steem | $0.32 | 150,175,586 | 142,930,214 | 105.07% |
| USD | $1.00 | 48,133,227 | 61,837,042 | 77.84% |
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.
Here are some descriptive statistics, for numbers geeks.
VESTED STEEM
With a weekly increase of about 850 million thousand, this week saw six out of seven daily increases and also new highs on five of those days. This is the eighth consecutive week with a clear upward slope.
Modeled value of powered-up STEEM in terms of USD
In terms of USD, we saw a weekly increase of a little less than $3 million, or 6%. The value remains above its summertime and more recent lows.
Modeled value of powered-up STEEM in terms of Tron (TRX)
Tron gained strength against powered-up STEEM by 74 million tokens, or about 10%. The total drifted back above the 800 million line.
Modeled value of powered-up STEEM in terms of Steem Dollars
Up by about 710k SBDs, or a little under 7% this week.
Modeled value of powered-up STEEM as a percentage of Steem's market cap
Up slightly again this week and holding steady above the 37% line. We have now seen 28 consecutive days above 37%, 58 consecutive days above 36%; 155 consecutive days above 35%; 198 consecutive days above 34%; and 218 straight days above 1/3. Also, the graph has started to reestablish an upward-seeming slope in recent weeks. Yesterday's download reported a new high at 37.74%. Will it hold above 37%? Will it reach new highs or even go above 38%?
Modeled value of powered-up STEEM in terms of bitcoin (BTC)
Up by about 51 BTC, or just over 4%, during the week.
Modeled value of powered-up STEEM in terms of Ethereum
Up by about 423 ETH, or 2 1/2%, in the last week.
Modeled value of powered-up STEEM in terms of Litecoin
Powered-up STEEM gained strength by about 39K LTC, or 9 1/2%. Still hanging around the 400k - 500k band.
Daily Powerdown Activity
Here is graph with data from steemdb.io to show daily completed and pending powerdown activity. Overall, with about 520k powered down last week and 310k pending, we can expect an overall decrease in powerdowns by about 40% or more in the coming week.
The horizontal lines are the average values for completed (blue) and pending (cyan) powerdowns, and the yellow line is a 28 day moving average of completed powerdowns.
Here are some descriptive statistics for the numbers geeks:
Notes
- Reference prices for STEEM and other tokens are downloaded from coingecko.com
Previous posts
- Steem Total Value Powered Up - $67 million - January 2,
20212022 - Steem Total Value Powered Up - $57 million - January 9, 2022
- Steem Total Value Powered Up - $60 million - January 16, 2022
- Steem Total Value Powered Up - $43 million - January 23, 2022
- Steem Total Value Powered Up - $46 million - January 30, 2022
- Steem Total Value Powered Up - $54 million - February 6, 2022
- Steem Total Value Powered Up - $50 million - February 13, 2022
- Steem Total Value Powered Up - $46 million - February 20, 2022
- Steem Total Value Powered Up - $48 million - February 27, 2022
Power up so far this year is averaging $52.3 million.
In the last few months until now the movement of the steem exchange rate looks positive and stable, with a price range of $ 0.300 - $ 0.400. Of course, To encourage the strengthening of the exchange rate, I think we need better promo-steem to bring in investors. I see Club #5050 #club75 and #club100 at least being able to balance powerdown vs power-up. What do you think?
I definitely think that the various clubs have been increasing and diversifying power-ups. Unfortunately, there was also a lot of powering down by large stakeholders between October and February, so I'm not sure how much the other power-ups influenced prices - or maybe it would be even lower without the clubs. If powerdowns stay low for a while, I'm curious to see what happens in the future.
BTC price has increased by 6%+ today, This is really a good sign for crypto market. I think value of every crypto will continue to increase this time. Thanks for this deep analysis.
Steem is constantly being staked by users. I've also started staking now.
The market tends to rise in March, it is what is speculated, I hope it is so, the adoption of cryptocurrencies is the order of the day, so this market has a lot of future in my opinion
I hope Steem Total Value Powered Up will reach $55 million next week. Last 3 months was really a bad time for crypto holders but next 3 months will be a great time for them. Thank you.
A $48 million staking is big money. It's really big money compared to its counterpart.
One of the users who started PowerDown. -feelret- As you can see in the screenshot, it abuses the prize pool. He no longer has much SP left.
Right. I think that account accounted for about 20 or 25% of powerdowns during the last 4 weeks. That's a big part of why the pending powerdowns dropped so much this week.