You have noted the excluded tokens from the DHF, but I still think excluding them is a wrong way to calculate the share for HIVE on exchanges ... when those tokens included its about 32%.
Still high but not as 40% plus ... 20% is a nice goal to aim
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To me it makes more sense to exclude the DHF since those funds are untradeable. More important than the static number is the trend and it's contributing factors.
Fun fact the amount of hive staked was steadily increasing from around September up to the beginning of March but there was a trend reversal once we started seeing the price pump. In economic parlance the supply is more elastic at a price above $0.30. So a sizable sector of the stakeholders are willing to sell at these low prices instead of remaining powered up.
My guess is that we will see an increase in the amount of coins held on exchanges the higher the price goes. I would venture to say that some sector of the stakeholders are either not confident that the value will go much higher or they want to be prepared to cash-in instead of acumulating rewards.
Worth to note is that although the absolute amount staked was going up during the period mentioned before the relative amount was going down.The downtrend only stopped when the price of HBD started to trade above one dollar. This shows that the main factor in the increase in the supply held on exchanges was fueled in great part by the HBD conversions.
Note: the graphs are showing the numbers after 6/8/2020 which is when the exchanges finished the power downs after the Justin Sun fiasco.
Thanks for the correction. Although the exact percentage is not really the point. Rather, whenever we see a large number of new people buying Hive, we should see it as an opportunity to convert some of them to stakers and ecosystem participants.
Yep ... agreed:)