Steemit CEO Ned Scott seems to be “cashing” 50% of his long-held Steem tokens based on operational records that can be viewed on public wallets. This means that in the next 13 weeks, about 200,000 US dollars worth of Steem will be taken out of his wallet. The move triggered a wave of speculation on social media, and some believe it proves that Steemit’s chief executive lacks confidence in the long-term viability of the platform. However, there are speculations that Scott may only hope to use the funds to fund a new Steem-based joint venture. Others pointed out that this is actually a common method. It is to perform a one-off large-scale cash withdrawal. He may just want to buy a new car. It seems that Scott has not formally commented on this. According to the “Currencies World” market, STEEM now has a global average price of $1.55, a decrease of 1.37%.