as it was already recognized by @ellipowell on this amazing Steemit INC Financial Update , Steemit INC has been obliged to execute a monthly programmatic sell in order to cope with their costs while implementing powerful upgrades which are starting to bring high cuts on the expenses and good revenues coming from the ads.
She is talking about Monthly programmatic sells but in reality, they used to deposit hundreds of thousands of Steem in a weekly basis.
They still power down the same amount of steem, which is around 326000 steem a week but lately I have noticed that the amount withdrawn mainly to BINANCE and HUOBI exchanges is decreasing continuously as you can see in the picture below:
@gsr-io is one of the accounts used by @steemit in order to withdraw Steem to the exchanges.
I am curious to see @penguinpablo weekly post regarding the total amount of Liquid STeem stored at the exchanges… I think we should start to note an inflexion on the trend, hopefully starting to create some scarcity that would help the price of STEEM to get recovered earlier.
I would like to thank @elipowell and @steemit INC team for sharing the current situation of Steemit and I hope to read further updates on that regards more often since it can mitigate uncertainties and speculations.
I think steemit has started to work towards a more sustainable organisation, I really like the way the express the new vision and new objectives however I still haven’t read so many :-).
Steem on.
@toofasteddie
