Steem Hits Market Cap of $67.37 Million (STEEM)

Steem (STEEM) traded 0.3% higher against the U.S. dollar during the 1 day period ending at 10:00 AM Eastern on March 18th. Over the last seven days, Steem has traded 8.6% higher against the U.S. dollar. One Steem coin can now be bought for approximately $0.13 or 0.00000164 BTC on major cryptocurrency exchanges. Steem has a total market capitalization of $67.37 million and approximately $17.63 million worth of Steem was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed over the last day:

• Arweave (AR) traded down 3.5% against the dollar and now trades at $6.70 or 0.00008244 BTC.
• Bitcoin (BTC) traded 1.2% lower against the dollar and now trades at $81,261.54 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 3.9% lower against the dollar and now trades at $0.16 or 0.00000202 BTC.
• UNUS SED LEO (LEO) traded down 0.9% against the dollar and now trades at $9.74 or 0.00011991 BTC.
• Litecoin (LTC) traded 4.6% lower against the dollar and now trades at $88.22 or 0.00108559 BTC.
• Bitcoin Cash (BCH) traded down 1.8% against the dollar and now trades at $333.03 or 0.00409830 BTC.
• Monero (XMR) traded 1.6% lower against the dollar and now trades at $207.47 or 0.00255313 BTC.
• Ethereum Classic (ETC) traded down 2.7% against the dollar and now trades at $17.32 or 0.00021310 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Bitcoin SV (BSV) traded down 0.3% against the dollar and now trades at $33.50 or 0.00041226 BTC.

Steem Coin Profile

Steem (CRYPTO:STEEM) is a proof-of-work (PoW) coin that uses the PoS hashing algorithm. Its launch date was March 24th, 2016. Steem’s total supply is 505,143,126 coins. Steem’s official Twitter account is @steemit and its Facebook page is accessible here. Steem’s official message board is steemit.com/@steemitblog. The Reddit community for Steem is https://reddit.com/r/steemit and the currency’s Github account can be viewed here. Steem’s official website is steem.com.

According to CryptoCompare, “Steem is a blockchain platform designed to reward content creation and curation with cryptocurrency, launched in 2016 by Ned Scott and Dan Larimer. It uses a Delegated Proof of Stake (DPoS) consensus mechanism, ensuring fast, fee-free transactions and decentralised governance. The platform’s three-token system includes STEEM, the native token used for rewards and liquidity; Steem Power (SP), a vested token for staking and governance; and Steem Dollars (SBD), a stablecoin intended to be pegged to the US dollar but often subject to volatility. STEEM is primarily used to reward users for posting and curating content, peer-to-peer transfers, and staking for governance. SP increases voting influence, while SBD offers a more stable, though fluctuating, form of payment. Steem’s core application is Steemit, a decentralised social media platform where users earn rewards directly from blockchain protocol incentives.”

Buying and Selling Steem

It is usually not currently possible to buy alternative cryptocurrencies such as Steem directly using US dollars. Investors seeking to acquire Steem should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Steem using one of the exchanges listed above.

STEEM/USD price chart by TradingView