Can you back this up with some insightful analysis to explain why you think this is evidence of Ned and Dan dumping? Someone is dumping for sure, but I don't want to leap to conclusions without seeing more evidence. Presumably Dan and Ned would be smart enough to sell any significant amounts in small pieces spread out over a few days, to avoid affecting the market too much. To me this looks like traders exiting their positions after the recent pump turned out not to be confirmation of a new uptrend.
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The transfers on the blockchain are unambiguous. The nature of this coin where STEEM is diluted rapidly means that it doesn't make sense to hold STEEM (as opposed to SP or SBD), nor to send it to an exchange,for an prolonged period. It is only reasonable to do so only for purposes of entry and exit. In this case exit is obvious.
That's a good point. You're right, it doesn't make sense to hold Steem for a long period of time and try to time the market. And I admit the timing lines up pretty well. I'm just surprised they wouldn't break it up into a series of smaller transactions spaced out a bit. I don't see the point in dumping all at once and moving the market like this, unless they needed the cash right away to cover some unexpected expense.
You make interesting points here and in your other posts. Why not make a full blog post because I never considered these scenarios. You're right, if they are pulling out a lot of Steem there are only a few things to do with them. My use for Steem would be to convert it to Steem Dollars because I can't see why I would ever want to hold Steem. At the same time it doesn't make sense to sell Steem by dumping either because that would make all of our Steem Power become worth less and less.