How is the Hive Power doing during these market conditions?
Powering up HIVE is a long term commitment and it shows that users have trust in the ecosystem. The bear market is a great opportunity for long term members to increase their holding and power up some more HIVE.
Let’s take a look at the data.
Background generated with Midjurney
We will be looking at:
- Hive Powered Up By Date
- Hive Powered Up By Month
- Hive Power Supply
- Hive Power Share
- Top Accounts That Powered up
- Top Accounts That Powered Down
The period that we will be looking here is 2022.
Hive Power Added/Removed In 2022
Here is the chart for the net HIVE power added or removed in 2022.
These are daily net columns that sum up the HIVE power added or removed for the day. Positive column means that there is more HIVE power added on that they, and negative more powering down. We can notice that mostly there is more HP added than removed, with some more powering down towards the end of the year.
Note that the HIVE power from rewards/inflation is also included, as all the new HIVE is entering circulation as HP.
On a monthly basis for 2022 we have this:
Each month in 2022 is net positive in terms of HIVE Power. More HIVE Power has been added than removed.
The record high is May with more than 4M HP added, while the record low is October with only 150k HP added. Have in mind that around 2M HP per month is entering in circulation from inflation.
The yearly chart looks like this:
2017 has been the one year with more HIVE powered down. A net 15M HIVE powered down in 2017. 2022 has been a record high year for HP added with 17.5M HP.
HIVE Power Cumulative Supply
When we plot the cumulative HIVE power in the period, against the total supply we get this.
The red is HP, the middle one is HIVE in the DHF. The light is the liquid HIVE.
We can notice that in the last two years there is an uptrend in the amount of HIVE Power.
The HIVE in the DHF was previously powered up, but then it was transferred in the DHF and is now slowly converted to HBD over a period of five years. Two gone, three left to go 😊.
We can notice the ups and downs in March 2020 when the hostile takeover happened.
Overall, the HIVE Power has been growing slowly in the whole period, but the liquid HIVE has even more aggressive expansion up until 2021.
Hive Power in 2022
When we zoom in on Hive Power only, we get this.
An overall uptrend throughout the year.
The year started with 148M HP and we are now at 166M HP. A few big power ups in the period, in May and again in August.
Liquid HIVE
The share of liquid HIVE in 2022 looks like this.
A steady uptrend here as well with some spikes on the downside. This happens usually when there are conversions to HBD.
At the beginning of the year there was 154M liquid HIVE and now we are at 173M liquid HIVE. An increase of 18.5M. A more aggressive growth happened in November when there was a lot of conversions from HBD to HIVE.
The conversions now play a more important role in the amount of liquid HIVE then the HP itself.
Liquid VS HIVE Power In 2022
Here is the chart in percentage points.
The chart is zoomed in around the 50% to better represent the trends.
The year started and ended with 49% HIVE Power share.
We can say it is a draw for the year. This is because, while the HP has been growing, so does the liquid HIVE as well. This is because of the overall increase in the HIVE supply. HP has increased from 148M to 166M, and the liquid HIVE from 154M to 173M.
There has been a sharp increase in the HP share in June and August. This happens usually when there is HIVE to HBD conversions and HIVE is being removed from circulation. Towards the end of the year there has been a HBD to HIVE conversions that have increased the liquid HIVE share.
HIVE Supply Share
When we plot the current supply on a pie, we get this.
- 42% Hive Power
- 44% Liquid HIVE
- 14% HIVE in the DHF
Having in mind that the HIVE in the DHF is locked we can say that a cumulative 56% of the HIVE supply is powered up / locked.
Top Accounts That Powered Up In 2022
Who is powering up the most?
Here is the chart for 2022.
@alpha is dominant here with 2.4M HP powered up. Next is @elmerling with 1.4M, and then the @honey-swap (Hive Engine) and @steemmonsters accounts.
Top Accounts That Powered Down
Who is powering down the most?
The @encrypt3dbr0k3r account is on the top here with more than 1M HIVE powered down, followed by the @bluemist and @newsflash account.
The @hbdstabilizer account, that is used as a community project to stabilize the HBD is in the top as well. This account receives daily votes from the top stakeholders and then it is powering it down and send it to the DHF.
Note that the numbers are cumulative for the accounts, both, the powered downs and power ups have been taking into account.
Conclusion
2022 has been a record high year for HP added. The thing is both, the Hive Power and the liquid HIVE have increased in 2022. Their growth has been linear so in terms of share between HP and liquid HIVE, it is a constant.
The thing is the liquid HIVE has mostly increased because of the HBD to HIVE conversions. The HBD supply has contracted in 2022 and the liquid HIVE expanded. If these conversions were smaller or neutral the HIVE Power would increase in absolute and relative numbers.
Now we are in a scenario where in absolute numbers the HP has grown, but in relative numbers it has remain stagnant, because of the addition of the liquid HIVE from HBD conversions.
The top accounts have powered up more than one million HIVE in 2022, and on the powering down side then numbers are also close to one million.
All the best
@dalz
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Crazy to think that this amount of grow is happening in a bear market, imagine what could happen in the next bull run, Hive ecosystem have bright future ahead!
I think so too, more reason to keep staking and grow our stakes
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Stunning Stats mate !!!
AS we can easily see hive is growing at a constant pace and bear market has not stop people for believing in hive, and they continually adding Hive Power in their accounts to add value to ecosystem and community. As we all know Hive is community driven platform and nothing come first before the community and that is why we parted our ways from steemit.
In a bear market, one should make all of one's coins stake. As HBD is getting twenty percent interest rate it is very good opportunity in bear market. The HBD is a stable coin no fear of going down in the market. Hive looks very strong and bullish now a days. Hive will definitely break his all time in the upcoming bull market as this is a very good project. Thanks for sharing this great and valuable analysis about hive.
Imagine that dude, he powered up more or less one months of inflation value on hive in the year 2022.
Well done, felt like a very informative read.
!LUV
!PIZZA
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That's great news!
Wow! 2017 looks terrible. Very frightening year! 🤣 And 2022 is really great despite the dominance of FUD. 😅 I am glad to be part of it in a small way.
Posted Using LeoFinance Beta
Interesting data, good to faith in the community growing through staking Hive despite the bear market.
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These are very insightful! keep 'em coming please! 🙏
So people stacked more HP this year. Very informative data. Thanks @dalz
Hopefully someone will explain to me how this all works. I am somewhat confused as to how this works.
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I gifted $PIZZA slices here:
@technicalside(1/5) tipped @dalz (x1)
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Woah despite how bad everything seems, we're still growing over here on hive. What a community! The bear market hit the hardest in the last months of 2022 so maybe that's part of the reason there is less hive powered up then. Still, pretty impressive stats.
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