STEEM Power Down Data | How many Steemians are powering down?

Hive is alive now and it looks like many Steemians, now Hivers are powering down and leaving Steem, or are in transition of leaving.

Here we will be looking into the amount of STEEM that has been started powering down, starting from the beginning of 2020, and looking more closely in the last days of March, before and after the HF 23.

First let’s take a look at the overall daily power down starting from Jan 1, 2020.

Data on Power Downs starting Jan 1, 2020

Here is the chart.

This chart is a bit non readable due to the Binance and Huobi actions. After powering up and voting on governance on the chain, on March 8, Huobi started powering down, and the next day March 9 Binance as well. Binance is powering down more than 30M SP.

Some general pattern that can be notice from the chart is that before February 14, the amount of daily Power Downs is in the range of a few hundred thousand, something like from 100k to 300k. The average for the period is around 250k.

When the announcement happened on 14th February a lot of Steemians didn’t like it, especially with the token swap wording. I resulted in a 7.5 million SP started to be powered down on that day. Also we can see that in the last days around the HF 23, that happened on March 20 there is a large amount of power downs.

Let’s take a look closer in this period.

Data on Power Downs starting March 10 – March 24, 2020

Here is the chart for the amount of STEEM that has been put in powering down in the period between March 10 and March 24, 2020.

The HF 23 happen on March 20, the official announce was on March 18, and @blocktrades made the post about not willing to compromise on March 16.

Before the HF 23, just after Binance started powering down, the amount of daily STEEM powered down is on average of 650k. Then on March 16, when @blocktrades made the first post, the amount of STEEM starting to be powering down went above 6M daily. The next days there is continuous high amounts of daily power downs counted in millions.

In this period the total amount of STEEM that started powering down is an approximate 44 millions.

Also, it looks like the trend of powering downs is likely to continue in the next days meaning the above number will continue to grow.

With 44 M powering down this is around 3.4 M STEEM that will be liquid each week. If a share of those hit the market, and it probably will, maintaining the STEEM price in the future will be a challenge.

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Top 20 accounts that powered down

Here is the table of the top 20 accounts that powered down in the period between March 10 and March 24.

Rank	Account	SP
1	blocktrades	3,164,602
2	darthknight	2,354,489
3	poloniex	2,275,290
4	michael-b	1,571,161
5	theycallmedan	1,102,494
6	coldbrewpete	1,076,586
7	xeldal	929,215
8	tombstone	897,960
9	payroll	860,059
10	likwid	850,891
11	created	635,483
12	adm	628,568
13	cjsdns	602,766
14	glitterfart	549,474
15	enki	471,649
16	gtg	470,675
17	steemmonsters	399,008
18	livingfree	335,816
19	bhuz	306,796
20	smooth	294,957

Disclaimer: These are approximate amounts and not totally accurate.

This is mainly because of the VEST to STEEM ratio that is changing daily and I have a fixed ratio for all the period.

Number of power downs

Another interesting chart is the number of power downs. How many times the power down button has been hit.

Here is the chart.

This is quite an informative chart as it clearly shows the three peaks.
The first one happened on February 14th, when the TRON acquisition of Steemit Inc was announced, then the next one on March 2/3, when the exchanges voted in, and the next, and the largest peak is around the HF 23, on March 18.

A total of 3573 accounts have started a power down in the period between March 10 and March 24.

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One thing is certain. There is a massive amount of STEEM powering down by large number of accounts, big and small.

All the best
@dalz