I wanted to continue the discussion I posted yesterday entitled @steemit Powering Down 71 Million Steem Power. What's Going On?.

Hive account@showtime24 did some good investigation on a comment on that post, I wanted to write about this further. As noted yesterday Hive account@steemit is powering down 71,456,822.169 Steem Power. But you can also see that 4 days ago 374350.341 was transferred to Hive account@steemit2

When look at the wallet for Hive account@steemit2, it sent Steem to multiple wallets, such as Hive account@alpha. Now, look at all the transfers from those wallets, many of them are being sent to Bittrex and Poloniex.

So what I’m gathering is @Steemit is powering 71 million Steem Power. Transferring some of that to Hive account@steemit2. From there many of these wallets are cashing out to Bittrex and Polniex.

This has me majorly concerned

I’m long the Steem platform because I believe in it; however, I get concerned when I see whales cashing out.

What does this all mean? Is there a good explanation for this or are the major players seeing something coming that we don’t?

I’d love to get your feedback.

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