Whether that is a good or bad thing is unclear
As I mentioned in my other comment reply, I stated my assumptions in detail in the first report. I still think it's a safe assumption to make that money held in an exchange is a strong indicator for the desire to exchange steem related value to some other token of value. Otherwise, why else would someone transfer to an exchange?
these reports tell us is more about shifts in in the nature of ownership, not really anything directly related to the price.
Maybe not directly related to price, but isn't change in ownership what impacts price? Without a change in ownership, there's no change in supply/demand, so no change in price.
(In fact this is exactly what happened in mid July when there was an large price increase.)
The summary report also shows some negative days in July which means those who purchased transferred that value off the exchange back to their own accounts. Negative days in mid July for STEEM include:
- 2016-07-11
- 2016-07-17
- 2016-07-18
- 2016-07-23
- 2016-07-24
Though in total, those days are dwarfed by large transfers to exchanges on 2016-07-12, 2016-07-14, and 2016-07-20.
Thanks for your feedback, @smooth! I've been posting this data for a weeks now, looking for more input and challenges to my interpretations. Your input is greatly appreciated!
At some point perhaps, but when it comes down to it, someone is still owning it either way. What it means most likely is that there is increased interest in shorter-term speculative owning as opposed to longer-term owning.
Sure, but there isn't an clear connection between exchange flows and price. There may be some connections, under some circumstances, with asterisks. You pointed this out as well!