Analysis: User's Savings Deposit and Withdrawals Behavior

Introduction

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The objective of this analysis is to determine the user's savings withdrawals and deposits behavior on Steemit by looking into the TxTransfers section of the steem database, specifically the transfer_to_savings and transfer_from_savings. Thus, I will look into the steem block chain database to evaluate steemit account savings withdrawals and deposit activities based on:

• The numbers of transactions and sum and averages of SBD ans STEEM, for the a three moth time period of January to March 2018; and,

• Relate the changes in the external market exchange rate change for both SBD/USD and STEEM/USD , where the data is extracted from coinmarketcap.com.

Outline of the Analysis

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I . Scope of Analysis

II. SBD and STEEM transfer shares

III. Transfer To and From Savings

IV. Relation to Exchange rate

V. Conclusion

VI. Tools and Query

I. Scope of Analysis

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The analysis performed using the data extracted from @arcange 's SteemSQL database. There are two sets of data is used:

• A monthly Steemit transfer to and from savings which is trimmed down and classified based on: designated amount_symbol as SBD and STEEM; and, type as transfer_to_savings and transfer_from_savings.

• A SBD/USD and STEEM/USD average exchange rate taken from the high and low column from the historical data in coinmarketcap.com.

II.SBD and STEEM transfer shares

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In the first three months of 2018, a total of 5,670,320 unique transfer transaction was accounted, where in 4,653,304 and 1,014,503 in SBD and STEEM transfer transaction activity respectively. Overall, 82 % of SBD transactions against 18%STEEM transactions. In addition, a total of 5,667,807 accounted for both SBD and STEEM transactions. The remaining 2,513 transactions are accounted for the cancelled transaction indicating transfer to and from savings, which does not represent any amount of STEEM and SBD transferred. An increasing trends in terms of SBD and STEEM transfers transactions can be accounted with noted averages of 338,168 SBD and 1,551,101 STEEM, respectively.

Furthermore, a total of 126,051,519.4 SBD and 19,270,893.1 STEEM was transferred over January to March 2018. On average, we can account an amount close to 129.55 STEEM and 4.46 SBD. There are 21 more STEEM transferred as to 1 SBD in January to March 2017. A reversal trend can be observe in terms of the number of transactions. There are more SBD compared to STEEM transfer transactions. Numerically, there are 3 more SBD to STEEM transfer transactions. The SBD and STEEM transaction and amount shares is foreseen to have the same trends in the April 2018.

III.Transfer To and From Savings

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A total of 32,523 transfer to and from savings exclusive for the cancel transactions stated earlier.
Deposits (transfer to savings) accounted for 21,999 (61%) and withdrawals (transfer from savings) equal to 10,524 (39%). The overall savings transfers in SBD is accounted for 23,906 SBD, where 31.25% and 68.75% for transfer from and to savings, respectively. In addition, a total of 8,617 STEEM savings transfer transactions, where we can account 35.44% and 64.56% for transfer from and to savings, respectively. We can account 2 more deposits than withdrawal transactions in savings. In comparison with savings withdrawal behavior, users tend to withdraw a close to 2 more STEEM transactions than SBD.

On average, the amount of transfer to savings is equal to 8.36 SBD and 2,465.22 STEEM; while for transfer from savings, we can account 20.80 SBD and 515.95 STEEM. The average amount transfer indicates a mismatch between transfer to and from savings even with a better number of accounted deposits than withdrawals. If we look in to the number, there are close to 12 SBD and 1,949 STEEM more withdrawals than deposits. In addition, a decreasing trend can be take into account for both SBD and STEEM deposit ans withdrawal behavior. This is highlighted by over 6000 transaction to less than 5000 transactions in terms of SBD deposits; and, from around 2500 to 1500 STEEM deposits. The withdrawal behaves in the same trend as the user's deposits activity.

From the total amount transferred in SBD, 56% was withdrawn by users against 44% of deposited amount. On the other hand, 88% STEEM deposits and 12% withdrawals was accounted. A SBD withdrawal influx happen on January 2018 raising the average values around 33 SBD, which dies out on the following month. In contrast, a influx of deposits of STEEM is accounted in February 2018 by which SBD withdrawals is low. Taking out in the picture the sudden influx, we can say that there is a normal data trends in the deposit-withdrawal activities in terms of STEEM. This is also true with the SBD transfers. However, the SBD deposit-withdrawal ratio tends to favors more on the withdrawals. The unbalance withdrawals and deposit may lead to lower values of STEEM in the internal market due to more supply in the savings than SBD.

IV. Relation to Exchange Rate

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At a higher exchange rate of SBD/USD, more withdrawals is accounted than deposits. An average of close to 40 SBD withdrawals was observe when the SBD/USD value is around 7 USD. Subsequently, in February, a lower number of withdrawals is accounted this may be attributed to users taking some time to hold their SBDs foreseeing that the SBD/USD exchange will peak again. Unfortunately, a downward trend in the exchange rate was incurred. This could also be the cause of the sudden increase in the withdraws again due to fear and uncertainty for losing the values of thier SBD .

On terms of the STEEM transactions, there is a very low relationship between the current STEEM/USD rate to the user's withdraw-deposit behavior. This is highlighted by an influx of deposits in February even with the current STEEM/USD exchange rate is around 4 STEEM. Overall, the USD exchange rate greatly affect the SBD withdrawals than the STEEM withdrawals. On the other hand, the SBD deposits increases as the exchange rate decrease this is notable in the January to March data points.

V. Conclusion

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The following conlcusions from the data analysis presented and shown earlier in this context.

• Overall, 82 % of SBD transactions against 18%STEEM transactions. On average, we can account an 21 more STEEM transferred as to 1 SBD in January to March 2017. A reversal trend can be observe in terms of the number of transactions, where 3 more SBD to STEEM transfer transactions. The SBD and STEEM transaction and amount shares is foreseen to have the same trends in the April 2018.

• A total of 32,523 transfer to and from savings exclusive for the cancel transactions stated earlier. Deposits accounted for 61% and withdrawals equal to 39%. Users has 2 more deposits than withdrawal transactions in savings. In comparison with savings withdrawal behavior, users tend to withdraw a close to 2 more STEEM transactions than SBD.

• Overall, the USD exchange rate greatly affect the SBD withdrawals than the STEEM withdrawals, by which we can account more withdrawals than deposits. In addition, the SBD deposits increases as the exchange rate decrease while STEEM is less affected with the changes in the market exchange rate.

VI. Tools and Query

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I extracted the data from SteemSQL by importing it on Microsoft Excel using SQL Queries. I used Microsoft Excel to visualize and create a graph for the data. The data is extracted by using COUNT(), SUM(), and AVG() function from TxTransfers. For the monthly transfer data, I run different queries using the different conditions to extract specific set of data in accordance totype and amount_symbol.

SELECT MONTH(timestamp) AS Month, COUNT(ID) AS Number_of_Transaction, SUM(amount) AS Sum_of_Amount_Transfer, AVG(amount) AS Sum_of_Amount_Transfer FROM TxTransfers WHERE type='' AND amount_symbol='' AND timestamp >= '2018/01/01' AND timestamp < '2018/04/01' GROUP BY month(timestamp)

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