Steem: A Highly Non-Scientific Piece of "Technical Analysis!"
OK, so maybe this approximates a bona fide shitpost, but even the best of us slip up sometimes.
Anyway, as a Steemwatcher, I have noticed the following:
Screenshot via coinmarketcap.com
In our "finest moment" on January 3rd, 2018, Steem very briefly had a market cap in excess of two billion dollars. Ah, those were the days...
Screenshot via coinmarketcap.com
Meanwhile, at the depths of our misery, Steem's marketcap had dropped to just below $17 million. That was just under ten months earlier.
Screenshot via coinmarketcap.com
As a point of reference, this was earlier today. Market cap for Steem of somewhat over $122 million.
Now, I'm not doing this just to show that I know how to post pretty pictures. There's something interesting — and potentially significant — hidden in these three snapshots: VOLUME.
Specifically the "churn rate."
At its lowest, it would have taken Steem 143 days to turn over the entire outstanding balance. Although people could more than ever afford large chunks of the token, market volume was absolutely pathetic.
At its highest, it would have taken Steem just 21.5 days to turn over the entire outstanding balance... and this at a price where people could far less afford to buy large stakes of the token.
For comparison, at the latest price today, the turnover interval for Steem was 53.37 days.
Of course, the "lesson" here is not exactly rocket science... volume drives prices up. But what does volume mean?
INTEREST.
Which is why marketing this gig is way more important than trying to lure all these apps and what have you. What we need are people who think this place is cool, and all those apps are cool, and TALK ABOUT IT so others get interested. Because nobody's going to buy into the damn platform if it isn't being talked about.
Hence the importance of initiatives like 
Because that is what drives Steem.
Allright, that's it. I'll now go back to my usual type of posting!
Comments, feedback and other interaction is invited and welcomed! Because — after all — SOCIAL content is about interacting, right? Leave a comment-- share your experiences-- be part of the conversation!
(As usual, all text and images by the author, unless otherwise credited. This is original content, created expressly for Steemit)
Created at 190522 23:05 PST
1025