I guess, but the slow down isn't so much the price of STEEM. In fact, it would makes sense that more people, especially those who want to buy in and have been tracking STEEM for a while, would want to come in while the prices are low.

However, the reason for the smaller daily accounts being opened is that the Steemit Inc folks have been using more of a manual process of approving accounts while they work on and eventually deploy Velocity, which is part of the upcoming HF 20. Velocity is an automated system that's supposed to be better at bringing on accounts than the automated system they were using previously. When that happens, then the flood gates are supposed to happen like never before, regardless of what STEEM is doing then.

The time before this last update, they estimated we'd see HF20 in the beginning of the third quarter. We're in that right now, and it ceases to be the first part or early part of Q3 when we hit the middle of August.