After a Low Start in 2023 the Hive Power Started Growing Again | Data on Hive Powered Up, Share, Top Users

The Hive Power is an essential parameter for the Hive ecosystem. Hive Power holders are the ones that vote for witnesses, DHF proposals, curate posts, and receive curation rewards. It’s the main asset on the chain.
Is the amount of powered up HIVE (staked) increasing or decreasing?
Let’s take a look at the data.

Background generated with Midjurney

We will be looking at:

• Hive Powered Up By Date
• Hive Powered Up By Month
• Hive Power Supply
• Hive Power Share
• Top Accounts That Powered up
• Top Accounts That Powered Down

Note that in the daily amount of powered up HIVE I have included the HP that is rewarded daily to hive users, as that HP enters in circulation and adds on top of the existing HP.

Daily Hive Power Changes

I have named this section as Hive Power since it can go up or down, but because of the new HP that enters circulation it doesn’t mean that HP is being powered up.

Here is the chart.

This chart dates back from 2016 for context.
As we can see there was a lot of powering down back in 2016-2017. This is because the token started with all the HIVE, or STEEM back then was powered up, and there were no liquid tokens to trade on exchanges.
Another spike in the powering downs is at the beginning of 2018, and again in April 2020.

In the last period we can notice that the volatility has dropped a lot and there is more stability around the Hive Power.

When we zoom in 2023 we get this:

While we can notice the ups and downs, the volatility is much lower, and in the range of -200k to +200k HP daily. In the previous period these numbers were literally in the millions.

On a monthly basis we have this:

The trend here is similar to the daily chart, with a lot of powering down initially, one more volatility in 2020 when the war for the chain was ongoing, and a more stable data since then.

In 2023 we got this:

We can see that January was positive with 1.5M more HP added, but the next three months, were negative with March 2023 with -500k HP. Since May the numbers are positive again with 760k more HP added, and all the next months are now in the positive.

Note that on average around 1.8M HP is added on a monthly level from rewards.

The yearly chart looks like this:

2017 has been the one year with more HIVE powered down. A net 15M HIVE powered down in 2017. 2022 has been a record high year for HP added with 17.5M HP. In the first half of 2023 we around 3M HP and this is relatively low when compared to the previous year. There is more to go in this year so will see how it ends up.

HIVE Power Cumulative Supply

When we plot the cumulative HIVE power in the period, against the total supply we get this.

The bottom strongest white is HP, while the share in the middle is the HIVE that is locked up in the DHF. The top is liquid HIVE.

We can notice that in the last years there has been an uptrend in the amount of HIVE Power.
The HIVE in the DHF was previously powered up, but then it was transferred in the DHF and is now slowly converted to HBD over a period of five years.
We can notice the ups and downs in March 2020 when the hostile takeover happened.

Overall, the HIVE Power has been growing slowly in the whole period, but the liquid HIVE has even more aggressive expansion up until 2021.

Hive Power 2020 - 2023

When we zoom in on Hive Power only, we get this:

A slow increase in the amount of HIVE powered up, from 140M HP in 2020, to 168M HP now.

The chart for the liquid HIVE looks like this:

A steady uptrend here as well with some spikes on the downside. This happens usually when there are conversions to HBD.
We can see the drop back in September 2021, when there was a lot of conversions to HBD. A recent smaller drop in February 2023 as well.

In 2020 there was around 145M liquid HIVE and now we are at 188M.
The conversions now play a more important role in the amount of liquid HIVE than the HP itself.

Hive Power Share [%]

Here is the chart in percentage points.

This is from the start of the Hive fork.

We can notice that the HP share has been hovering close to 50% for a long time. Back in 2021 this increased to 52% at one point, after a period of decline. In the last year we are again in a slow declining mode with the share of the HP dropping from 49% at the beginning of 2023 to 47%.

HIVE Supply Share

When we plot the current supply on a pie, we get this.

• 42% Hive Power
• 46% Liquid HIVE
• 12% HIVE in the DHF

Having in mind that the HIVE in the DHF is locked we can say that a cumulative 54% of the HIVE supply is powered up / locked.

Top Accounts That Powered Up In 2023

Who is powering up the most?
Here is the chart for 2023.

The @threespeakvoter account is on the top with more than 500k HP powered up in 2023, followed by @alpha-homer and @arpolkin.

Top Accounts That Powered Down

Who is powering down the most?

The @mottler account is dominant here and has powered down a massive 2.5M HP. This is an old account from the very beginning of the chain back in 2016 and it was idle for most of the time since then, not even using the HP for curation. That has changed in the last period and the account is now fully powered down. Most of the power down happened in the beginning of the year. Two more accounts with around 1M HP powered down in 2023.

All the best
@dalz