A few weeks ago, I posted What is STEEM's market capitalization?, where I noted that web sites like CoinGecko, CoinMarketCap, and even Yahoo! Finance, had pinned STEEM's circulating supply at 394,951,699 for almost a year, so I wasn't sure how market capitalization was being calculated.
Yesterday, when I noticed that the percentage of powered-up STEEM had suddenly dropped from more than 42% of market cap to less than 40%, I was puzzled at first, but today I found the explanation by glancing at the circulating supply on those web sites. It's now reporting at 421,076,090.38.
This is an increase of a bit over 6%, which seems in line with what I know about STEEM's inflation rate during the last year, and it's also fairly close to the value reported for current_supply at steemdb.io.
As I understand it, this means that from the perspective of these web sites Steem's marketcap probably would have increased from about $69 1/2 million to about $74 million (based on $0.176 per STEEM). According to the current rankings at coinmarketcap, this corresponds to an advance on the rankings board of 14 positions, from about 270 to 256.
Presumably, we have Steemit to thank for getting the api fixed, so... Thank You @steemcurator01!
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