I have created a couple of charts to show you how much STEEM is stored on each exchange where STEEM is listed.
Rule #1 in the crypto world: Don't store your cryptocurrencies on an exchange!
Why not? Because 14.5 million STEEM is currently locked up on Poloniex, an exchange that has deposits and withdrawals disabled for months now. I wouldn't feel comfortable if I had STEEM on Poloniex.
STEEM stored on all exchanges
STEEM stored on Bittrex
STEEM stored on Poloniex
STEEM stored on Binance
STEEM stored on Huobi
STEEM stored on Upbit
STEEM stored on Bithumb
STEEM stored on Openledger
STEEM stored on Gopax
How much STEEM is currently stored on each exchange?
| Exchange | STEEM |
|---|---|
| Bittrex | 21,444,592 STEEM |
| Poloniex | 14,479,958 STEEM |
| Binance | 6,385,403 STEEM |
| Huobi | 3,090,198 STEEM |
| Upbit | 1,259,162 STEEM |
| Bithumb | 1,596,965 STEEM |
| Openledger | 546,249 STEEM |
| Gopax | 232,722 STEEM |
Total amount of STEEM stored on all exchanges: 49,035,249 STEEM
Total STEEM supply: 269,880,925 STEEM
Liquid STEEM: 78,003,187 STEEM
- 18.2% of the total supply is stored on the exchanges.
- 62.9% of all liquid STEEM is stored on the exchanges.
It’s gotten to the point I don’t care what happens . Steem will never see the 8.00 mark again .
Yeah, I thought the same about SBD before it went $17.
And people still doesn't understand that the US Dollar price doesn't mean shit unless you plan to buy a Lambo the next week!
Maybe...it looks like that right now though.
Great information.
This is an interesting table, you could share it every week once... or two time ... what new numbers.
Fully agreed.
Thank you!
Why do poloniex disable steem on their exchange? Cheers mike
Very cool data, this is awesome. Interesting that Bittrex is unwinding their steem balance.
OMG, 63% of liquid STEEM is ridiculous.
Nice job.
could be used to completely take over steemit.
Certainly could make a few whales out of it. It’s only 18% of total steem though.
oic, I misunderstood. thank you for clarifying. is a lot !
That's a lot of Steem on exchanges! Over 60 % of all liquid Steem on exchanges is just a huge number, but I guess the reason for it being that high is because everyone who is involved with using the Steem blockchain powers it up.
Anyway, thanks for publishing these interesting data!
Interesting to see how the rumors surrounding UpBit have impacted the volumes there. Also great to see how much the new exchanges have gotten involved in the market. This adds to the liquidity available which is great! Lastly, having only 20% liquid on exchanges could prove to be a springboard once demand for SMTs potentially come along. Thanks for these specifics!
wow
I really don't understand why would somebody hold STEEM outside of STEEM blockchain...
There is something called investors that rather just hold than invest in power ups
Still on the blockchain, but in wallets belonging to exchanges. The only reason to keep steem on exchenges is to actively trade it. It's a lot of steem out there, but they increase the liquidity.
You got my point, you don't control funds on the exchange. Even if you are active trader, speed of STEEM transaction alouds you to send funds quickly for trading.
Most exchanges take a cut of your withdrawals, so I'm guessing that they just don't want to pay any fees if they plan on trading with it again soon.
Maybe but Binance withdrawal fee is 0.01 STEEM. Not much...
Oh, that was cheaper then I expected. That's definitely a reasonable price to pay to get the funds on your own account/wallet.
Great graphs. Hopefully, the amount stored on these exchanges act like bitcoin in stuck wallets and cannot be sold to help stabalize the price a bit.
Isen't it exactly the opposite though? The Steem on exchanges are much more likely to be sold than the Steem that is vested as Steem Power.
yes, I agree. Steem on exchanges provides liquidity for Steem, which ultimately means more supply and downward pressure on the price. If Witnesses can keep motivating people to power up their Steem (i.e. voting bots to provide paid promotions) instead of letting it rot on an exchange, that will ultimately push the price up and lower the supply. So many hodlers of steem that don't realize their holdings are rotting over time as the supply increases. They could be selling votes through smartsteem or minnowbooster, or at the very least curating posts. On the flip side, the more steem that gets powered up and utilized, the less everyone's upvote is worth. The liquidity on the exchanges is definitely a double edged sword for Steemians, as Steem would be more functional if it were worth $10 each right now, but then that would cause those with lots of steem power to power down for profit, increasing the supply and lowering the price. It's a no-win for New Users, as they are essentially wielding rubber knives in a gun fight (if they don't buy or lease steem power).
Yep, new users are in a kind of bad place right now..
You got it backwards lol, it's the vested Steem that can't be sold. If you're gonna upvote your own comment to the top of the thread, edit it to be right.
Good info, man. That's a lot of STEEM.
Wat is the problem with poloniex though.. When are they resuming the deposit and withdrawal process for steem?
Is it really still broken? It seems like forever ago that they closed deposits and withdrawals.
I tried to withdraw something, but there is no go zone. Tried to contact them but they said there were no conclusion about reactivating their wallet to deposit or withdraw steem... So about poloniex and theirs working attitude.
Wow, that's worse than I believed. I can't believe a serious company would hold people's coins hostage for this long.
Nice post! Followed and upvoted! Check out @atimk23 for useful cryptocurrency and blockchain updates and useful things! Have a nice day!
That’s a great investigation!
To bad to see so many steem unused maybe it s better this way.
This people did buy it as an invested and when they would bring it here to steemit! They only thing they could do to protect their investment is to delegate it to bots!
Cheers,
Peter
Great info.
Does this mean that roughly 30 mm steem is stored on steem blockchain wallets? How long will it take before all 269 mm steem is released by the blockchain?
Why is the amount stored on upbit going down so much any ideas?
It seems our analysis of the transfer from @steemit2 to @bithumb.hot was wrong.
If the STEEM is still there, it hasn't been sold to cover expanses. Or maybe they're gonna sell it gradually. We will see in the next dew days / weeks.
Thanks for all the information, another layer of mistery !
I didn't know poloniex had withdrawals suspended for months. Scary.
nice presentation of facts this kind of blog will help like me newbies in the crypto world nice post @penguinpablo thanks and God blessed.
Hey @penguinpablo! Great work as always!
Is there any way you could provide data on the total amount of steem powered up?
I had no idea there was actually so much STEEM on these exchanges. I am very intrigued. At the same time, concerned about the issues at Poloniex. Can you imagine what would happen if they defaulted on these quantities?
It is unfortunate that both Poloniex and HitBTC have abandoned their STEEM/SBD wallets. I feel that what they are doing is skating on illegal. They use the central wallet for Steemians to deposit their STEEM and SBD into the exchange. From there they create a virtual currency that they trade with based on the central wallet that has all the STEEM and SBD in it.
Why I think what they are doing could be considered illegal is that since they have abandoned the wallets with the actual STEEM and SBD in them, then the virtual supply of STEEM and SBD becomes invalid. Essentially, the virtual supply that they call STEEM and SBD on their exchange is fake. It is no longer valid. The potentiall illegal aspect is that they know they are trading a fake currency on their exchange and continue to do so.
Both Poloniex and HitBTC want to certify themselves in more countries. I would expect that some countries will require regular audits. I can't imagine how they are going to explain how they were trading a fake currency on their exchange for so long. What does that do to the legitimacy of the currencies that their fake currency trades with?
This is very interesting. Thanks!
Do you have similar charts / statistics about SBD?
Thats absolutely wild!!
Great info. I’ve always wondered where all of the Steem is
That is excellent analysis. Could you also add two more analysis
and how much held SP actually upvotes
You're right, why would anyone hold such a big amount of Steem on an exchange? Could it be speculators?
What happened on May 24?
The same for HitBTC
Posted using Partiko Android
Awesome info! Thanks for posting.
Great work with this man! :)
Eye opening stats!
Thanks a lot for coming up with this!
I use your stats all the time to monitor steem, great work!
With 20% of the total supply on exchanges, I guess that means plenty of potential for further future price volatility, probably downwards against BTC.
It'll be interested to see what happens to that 15M currently locked up.
That is amazing!!............information
Wow, 14.5 million Steem blocked on Poloniex! I didn't realize the situation was so bad over there for Steem users. Great information!