i see this thrown around a lot. That 'most' just sell their SP. Do you have any actual stats on this beyond seeing a bit of information and extrapolating it to apply to the whole of the platform? I don't just sell mine and many of the accounts I've looked at are accumulating rather than selling.
How many of the larger stakeholders power down regularly vs how many of the smaller ones. Those numbers would be of interest in actually evaluating who holds and who sells.
Check out the Withdrawal to Deposit Ratio by User Count over Time in the weekly Exchange Transfer reports I've been doing. That ratio has to go a completely different direction for the price to really change around here (IMO). I don't think that will happen until everyone who wants to sell their STEEM and SBD on the market does so and we reach some kind of market equilibrium.
thank you for drawing my attention to your reports @lukestokes. Does seem to be some shaking out going on. As you suggest, we wont really see where that leaves things until it reaches some sort of equilibrium.
You're welcome. I'm actually quite surprised how relatively stable the price has been given how many people are cashing out compared to how many people are depositing. If that number were ever to reverse... I think the price could go way up and quickly.
Let's hope that it heads to the reverse as soon as possible ... but in the meantime, I'll be good with relatively stable.
We know this is happening when we look at the price of Steem.
It goes down over time. It sometimes spikes, but the trend is always downward.
It needs either stability, or an upwards trend.
Because it goes down, it means more Steem is produced and sold than is bought.
I find that it moves both up and down. Lately it has been pretty stable which is not a bad thing considering some of the other drops we've seen. Guess I'm more glass half full than empty. I grow weary of the negativity instead of people pulling to build.
Yup check out @lukestokes' reports! Not definitive, but it's something :)
thanks @kevinwong I just did ... most interesting.