"7. Companies with only a small portion of their tokens available in the marketplace (less than 30%) are not eligible for the ICONOMI index."
Steem has less than 10% free floating in the market so it should be excluded from the ICNX
current_supply
167,410,888.257 STEEM
total_vesting_fund_steem
159,658,322.722 STEEM
Thats 8 million only on the market
excellent observation mate... I checked polo's balance... only 475k STEEM in there
...although I still think advertising ICN on the STEEM platform a good idea (after ico)
Steem users must "power-up" aka lock steem into the platform in order to avoid excessive inflation.
The steem power is locked in for 2 years, with weekly withdraws possible
So basically you have 1% of the supply "un-locking" 1 time each week
At current price that equates to bloggers potentially withdrawing and dumping 222k STEEM (~210 BTC) per day
A lot of people probably take the weekly payment and power-up to lock the steem back into the platform, instead of dumping, so the amount dumped by bloggers per day is probably not close to the maximum 222k STEEM (~210 BTC)
Either way you look at it, it's a lot of sell pressure from bloggers, which makes it hard for the price to go up.
If they start selling ad space, and using that money to put buy pressure, then it could work out.