This is a historical graph of both Total STEEM and Liquid STEEM supply

(Note) There are two different scales on these graphs. For full scale, see graph below.

Liquid STEEM is the remaining STEEM that has not been converted into Steem Power. (Orange Line)

When STEEM is liquid, it can be readily sold and purchased.
When STEEM is locked away in SP, it is not liquid, It takes a significant amount of time to convert it back to a liquid form.

This is a graph of the same data. The data of this graph was plotted on the same scale to show the massive difference between Liquid STEEM and STEEM stored in SP

I created these charts with data that I collected over the last year and half.

Why are these graphs important?

STEEM is created at a high rate. Currently 8.38% per year. Many Steemians have a concern about STEEM inflation with the high rate of new currency creation. These graphs show that there is a limited supply of STEEM. Inflation is being offset by the rate of STEEM converted to Non-Liquid STEEM.