I think these numbers can not be interpreted in such a definitive manner as :
To start: THE SYSTEM IS WORKING AS IT IS DESIGNED!!!!
An explanation I could think of :
- Whales are powering down,
- Smaller accounts are powering up (or at least not powering down), just natural growth.
Does that mean wealth is getting better distributed ? NO.
We need to look at rewards to see that (the flow) and not the SP in an account (the stock).