Question: When did STEEM have its highest single-day trading volume?

remlaps-lite (77)in #steem • 5 years ago (edited)

Answer: According to historical data from CoinMarketCap (@officialcmc), it was today, March 22, 2021. $475,665,991 traded hands. The previous high was $318,344,000 on January 25, 2018.

Update:

Just for fun, using data from @officialcmc, here's a graph of Steem's trading volume divided by it's market cap.

Curiously, in Steem's nearly 5 years, there have only been three days where the trading volume exceeded the market cap:

Today (3/22/21) - Volume / Market cap = 1.673
May 20, 2020 - Volume / Market cap = 1.834
March 19, 2020 - Volume / Market cap = 1.416

Those of us who were here in spring of 2020 may have thoughts about why those two dates were unusual.

On about 1,796 other days, the ratio of volume / market cap was less than 1. So, I'm left wondering, why is today (well, technically, yesterday) so unusual?

Update 2: And after @officialcmc published closing prices on March 23, there have now been 4 days where trading volume exceeded market cap. In addition to the three above, March 23 trading volume was reported at $309,925,477 with a market cap of $302,535,360. According to the site, that makes this the first time in Steem's history with two consecutive days where trading volume exceeded market cap. (volume / market cap = 1.024.)

#markets #cryptocurrency #steemexclusive #penny4thoughts

5 years ago in #steem by remlaps-lite (77)

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cryptokannon (74) 5 years ago

ah.. the historic day of May 20th,2020, may the accounts affected rest in peace in the lost land of bittrex.

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remlaps (76) 5 years ago

Coincidentally, I noticed that there were new legal filings in that case on March 22 and Mar 23 (2021). I don't have access to actually read the documents, but apparently the case is still grinding away in court.

I suppose that could have been related to the unusually high trading volume on those days, but I sort-of doubt it.

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