According to steemitwhales.com there are 36 accounts worth over $1,000,000 in value. Out of those 36 accounts 5 of those are currently powering down. These top 36 accounts account for a huge percentage of the total STEEM in circulation. We have had a huge bull run in cryptocurrencies recently and STEEM wasn't one of those coins that benefited. I think some of the big players and whales are pulling out of Steemit and are holding prices back.
What can you do to help?
- Promote Steem and Steemit in any way you can outside of Steemit.com
- Buy Steem on your preferred Exchange and HODL.
- Don't power down your Steemit account
- Buy Steem on steemit.com using BlockTrades and Power Up your account
On the plus side this is a great time to buy Steemit, if you have any thoughts on why Steem isn't rocketing up with everything else please let me know in the comments section.