Every two weeks or so I like to compare the current Power down statistics and see how we stand.
Here they are:
29th December 2018
| STEEM | Amount |
|---|---|
| STEEMPOWER | 205,3 Million |
| LIQUID STEEM | 85.6 Million |
| SBD | 11,89 Million |
Today (11th January 2018)
| STEEM | Amount | |
|---|---|---|
| STEEMPOWER | 206,2 Million | (+0.9 million) |
| LIQUID STEEM | 86.6 Million | (+ 1 million) |
| SBD | 11,59 Million | (- 0,3 million) |
Positive things: STEEMPOWER is still going up. By 900k vested STEEM since 29th December 2018.
And the amount of outstanding SBD is also still slowly coming down. Less then last week but still with a nice 300k SBD.
The downside is we are creating a lot of extra STEEM because of conversions (SBD to STEEM). The total supply has grown by 2.1 million in the last 2 weeks.
We are still outpacing the set inflation (~8,5%) for this year by a lot. And I don't see it change unless STEEM goes up significantly and conversion becomes less interesting.
(If you want to read more about inflation I wrote about it a month ago here.)
Fun note:
It sure doesn't look like many Steemians want to part with their STEEM. Which is a very positive sign.
But we also don't feel like buying it. Which I guess makes sense with the market sentiment.
Currently it would 'only' take around 22 million USD to buy up all the leftover liquid STEEM.
For what the Steem blockchain is today with all the development and Apps that does not sound like much.
Because of this, I still believe any reversal in STEEM price will be swift and very sharp as it has done in the past.
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