Steemit Statistics: 8 Months Ago I Thought Steemit was Dead….

I was an early Steemit users, and this post used to be a weekly post, analysing Steemit by numbers. But 8 months ago everything was going wrong (at least I thought it was…). User numbers were static, the price of Steem was taking a pounding in the markets, and the whole ecosystem seemed far from the democratic utopia it was built to be…

However maybe I was wrong? Let’s take a look at how things have changed here since my last post…

Past Editions: Week 12 / Week 11 / Week 10 / Week 9 / Week 8 / Week7 / Week 6 / Week 5 / Week 4 / Week 3 / Week 2 / Week 1

Steemit Statics: 8 Months Later: Highlights

• Steem Becoming More Distributed: One of the biggest concerns in the Steemit community from the outset has been the control the top X account have over Steem. I have written at length in the past about how Steem will naturally get widely distributed away from the large account holders, and this has happened. The Top 10 Steem Power holders now control 57% less than 8 Months ago, and the top Steem Holder control 39% less.
• Liquid Steem Up 700% / Market Cap Up 540% / Steem/BTC Static: Well, it seems counter intuitive, but this really is testament to Steemit’s success over the past 8 months. With the changes made to the Power Down schedule, this was always going to lead to a vast increase in the level of Liquid Steem. My prediction was that the Price of Steem would continue to get driven down, however in reality, the price of Steem is currently trading around the same levels as I left against BTC, and is up 338% in $ terms
• Steem Dollars in Circulation have fallen 33%: Steem Dollars in circulation can only fall if more Steem Dollars are being converted to Steem, than are being paid out in rewards. This is a signal that users value Steem, and are prepared to re-invest Steem Dollar into the system. Steem Dollar are essential Steem Debt in the ecosystem, so this number falling is very healthy for the ecosystem.
• Active User Base Increased around 100%: This was my key area of concern 8 months ago. But, with 24hrs Active Users increasing 140%, and 7 Day active users increasing 85%, this is a big step in the right direction. These numbers are still not big, and still have some way to go to justify the market cap (as shown by the big increase in market cap per active user at $23,324), however 100% growth in 8 months could be very interesting if we can keep on this trajectory.
• Steem / Steem Dollar Daily Traded Volume up over 200x: An important element of price discovery is volume, and 8 months ago trading in Steem had ground to a halt. This is a very positive sign, and supports the increase of market cap. Around 5% of Steem Market Cap is changing hands daily, which should be taken as a sign that prices should remain strong for some time.

Sources:

https://steemd.com
https://steemd.com/richlist
https://steemit.com/market
https://poloniex.com/exchange#btc_steem
https://poloniex.com/exchange#usdt_btc
https://coinmarketcap.com/currencies/steem/
https://coinmarketcap.com/currencies/steem-dollars/

Would be interesting to hear your thoughts...