This is from a mastering document I have my clients, after my own experimentation:
Some advice for online streaming sites - As of writing (Summer 2013) the BEST files to use for Soundcloud and (New)MySpace are the 16Bit Wav files (As they encode their end), whereas ReverbNation submits and streams best at 128k MP3. All sites stream at 128k. This may change as High Speed Broadband gains momentum, so do check your streams a few times a year for odd encoding sounds.Basically, SC re-encoded everything. So handing them a full wav means they start from the top and encode best.
By handing them a 128MP3, they don't dump this direct, they RE-Encoded this, adding artefacts.
I do ALWAYS check my uploads on good headphones before promoting. My most recent upload, 2 months ago, was a WAV of course, and streams fine
Hope that helps