Chart Of The Day: Unusual Steem Trading Volume, For 17 Million Dollars This Time

Summary

• Another huge daily trading volume on Coinmarketcap.
• Power shifting on Steem blockchain?

More than a week ago I noticed an “Unusual Steem Trade Activity”. By data of Coinmarketcap.com, Steem coins in value of 16 million dollars were traded in a single day on September 30.

All-time highs in Steem trading

That was an all-time high in comparison with the capitalization (the value of all Steem coins in circulation): it was 35.9 percent of the total amount of Steem. Yesterday, if the data is correct, another time 33.5 percent of all Steem were traded. For 17.3 million dollars, this time.

Steem daily price and trading volume (USD, Coinmarketcap.com)

Thanks to higher Steem prices, capitalization is now higher than on September 30. It increased to 51.7 million on October 8 from 45.4 million on September 30. That is the reason why the second, even higher trading volume is lesser in percent, compared to the capitalization.

Whales trading?

The records before, in USD terms, reached at the beginning of 2018, were considerably higher, with a turnover of 318 million dollars in a day. But, with the Steem price much higher, that was only a smaller part of the capitalization in percentage.

I suppose some big players, whales or founders must have caused this high turnover (if there is no technical failure). Maybe the main power of the relatively centralized Steem system is shifting from some powerful hands to other strong hands.

Power-shift?

I know nothing more in reality, I see only the numbers. But my experience tells me that some big owners are changing. Because that is what used to happen if you see such huge amounts of shares changing hands on stock exchanges.

“Riding Out The Storm, Strange Thoughts on Power Shifts” – wrote @whatsup. I don’t know if he speaks in riddles because he is afraid of whales’ downvotes. Or he knows something more what he doesn’t want to write about.

(You can use Steempeak to view downvoted posts, view pictures in better resolution, etc. My posts you can find always on Turboyield.net ultimately.)

My opinion

On stock exchanges, it is always mandatory to announce a change of mayor ownership, but unfortunately not on the blockchains. But I think we’ll find out at the right time what happened. When the money arrives from the exchanges to the system.

Steem is like a (semi)public company – who has more capital, has more power. That is normal in capitalism. The question for me is: Will anybody care about the small investors, average Steemians, minnows, and dolphins?

Disclaimer

I’m not a certified financial advisor nor a certified financial analyst, accountant nor lawyer. The contents on my site and in my posts are for informational and entertainment purposes and reflecting my own data, ideas, opinions. Please, make your proper research, or consult your advisors before making any investment or financial or legal decisions.

(Photo: Pixabay.com)