I know how Steem and VEST work. No need to explain.
I'm sure the exchanges didn't power up all of their STEEM and left a few liquid steem in reserve.
If now customers demand to transfer their STEEM into SteemIt accounts and those reserves dwindle exchanges will have to buy new steem to meet customer demands.
They can't tell there customers to wait a week. The exchanges have to provide the coin within minutes when the customer demands them.
I don't think its a coincidence that STEEM is rising since Monday:
It's absolutely true that any remaining liquids should be transferred of all the exchanges.
More than the remaining. So that the exchanges run out and have to buy from other exchanges who didn't participate.