The current supply of STEEM tokens is around 252 million.
182 million is powered up.
70 million is liquid.
When you look at the top 25 Liquid STEEM holders they own 42 million liquid STEEM.
By far the biggest holder is Poloniex with 25 million liquid STEEM or 35%.
Poloniex has disabled withdrawals and deposits.
Anyone that buys STEEM on Poloniex can't send it to their account to power it up. (Reducing the supply of liquid STEEM.)
For me, Powering up is the main reason to buy STEEM. It's what gives a Steem token more value.
Buying Steem on Poloniex is therefore useless at the moment. But worse, to get it out of there you only have one choice. To SELL it for another crypto.
It's putting unfair (extra) selling pressure on STEEM in my mind.
I talk about it more in-depth in my Vlog.
Follow Me @exyle
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