Charts: How much STEEM is being transferred from and to the exchanges?
I wanted to know how much STEEM is being withdrawn and deposited on the various cryptocurrency exchanges... So I've made a couple of charts I would like to share with you :)
All data is coming directly from the Steem blockchain and is based on UTC time. The charts show only the amounts of STEEM. Not the Steem Backed Dollars (SBD).
Bittrex
Poloniex
Here we clearly see the problems this exchange has...
BlockTrades
Livecoin.net
Daily Steem Transfers from and to Bittrex & Poloniex
I plan to add this chart to my daily steem stats report, so please follow me if you want to stay informed :)
| Date | From Bittrex | From Poloniex | To Bittrex | To Poloniex |
|---|---|---|---|---|
| 2017-08-08 | 69,500 STEEM | 0 STEEM | 80,876 STEEM | 100 STEEM |
| 2017-08-07 | 43,101 STEEM | 0 STEEM | 72,549 STEEM | 4,943 STEEM |
| 2017-08-06 | 54,046 STEEM | 0 STEEM | 27,849 STEEM | 35,415 STEEM |
| 2017-08-05 | 18,818 STEEM | 132,419 STEEM | 103,217 STEEM | 30,130 STEEM |
| 2017-08-04 | 45,403 STEEM | 432,479 STEEM | 343,307 STEEM | 11,089 STEEM |
| 2017-08-03 | 58,237 STEEM | 119,599 STEEM | 143,175 STEEM | 8,595 STEEM |
| 2017-08-02 | 44,864 STEEM | 0 STEEM | 78,116 STEEM | 0 STEEM |
It seems the powering down is placing constant selling pressure on steem. Blocktrade and Bittrex illustrates it well.
yes currently there is a bit of powering down happening which creates selling pressure. i think this means there is a good chance to pick up some cheap steem in the next few days.
Based on the tiny volume of trades reflected in the actual figures listed above. I don't think there will be any cheap steem anytime soon. Unless $1.40 is cheap?
Which it could well be by this time next year. As some excitable people are predicting $10?
Who knows? Speculating is always a bit of a crapshoot.
Good post as always @penguinpablo
Polo has it's withdraws disable from time to time lately, as you can see in the graph. but when it is disabled there is an incentive for the price to fall as selling is the only way to withdraw. But as many trust polo to be back up eventually (as happens) there is also a great spot to but there.
Love the charts great insight, great to see more coming in than going out
Would be cool to see the net amount per day, summing across all exchanges.
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interesting to see that people are predominantly buying steem on Poloniex and not so much selling there. Why would that be? Sure i know they had problems, but it doenst explain much why people continue to buy there but not sell....
It seems that people are withdrawing from Poloniex. They must have different balances in different coins there. In order to transfer to their respective wallets they choose which coin they see as the most potentially rewarding. So suppose you have 1000 XRP, but no Ripple wallet (a common thing), you convert to Steem (which is buying Steem on the exchange) and then withdraw to your Steem wallet. This makes the balance much safer, certainly if your trust in Poloniex isn't great. + you can use that Steem to convert to Steem Power and put it to good use!
Yep that makes sense indeed. cheers
So why is there so much selling of STEEM on Bittrex then? Is Bittrex considered more safe than Poloniex?? Why?
I'm not the expert here, but Bittrex is considered to be as safe as possible, for an exchange (which is also a lot less safe than your own wallet).
Also, it's not strictly a safety issue, Poloniex changed their Terms and Conditions. Many consider those unacceptable.
I love watching statistics))) Many thanks to you for your work)))
hey
could you maybe also add some totals on the charts so there is a more clear view on the total difference value being added or removed
i.e.
total from bittrex, poloniex, all exchanges added up
total to bittrex, poloniex, all exchanges added up
total difference of all so we have a weekly balance
do not know if this is possible but would be interesting
great statistics steemit is reaching the sky <3
2 days ago when I looked up Bittrex's wallet and it seems to be more consistent than Poloniex. Also I made a user analytics tool (steemtracked.com) where you can see the progress of the reports you post.
Nice website. Good job! :)
Thanks, your SteemNow website gave me some inspiration!
Freakin Poloniex man ugh. But from the looks of it there are a few high drops but it seems to balance itself out over the days which is great news to me I think. I thought there was an issue with supply and demand like to many being pumped out on the network.