Steem Hits 24 Hour Volume of $42.81 Million (STEEM)

Steem (STEEM) traded down 1% against the US dollar during the 24-hour period ending at 11:00 AM Eastern on March 26th. Over the last week, Steem has traded 0.6% higher against the US dollar. One Steem coin can now be bought for about $0.14 or 0.00000162 BTC on major cryptocurrency exchanges. Steem has a total market capitalization of $71.04 million and $42.81 million worth of Steem was traded on exchanges in the last 24 hours.

Here is how other cryptocurrencies have performed over the last 24 hours:

• Arweave (AR) traded down 5.2% against the dollar and now trades at $7.26 or 0.00008394 BTC.
• Bitcoin (BTC) traded down 1% against the dollar and now trades at $86,545.33 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 3.9% against the dollar and now trades at $0.20 or 0.00000226 BTC.
• UNUS SED LEO (LEO) traded up 0.4% against the dollar and now trades at $9.80 or 0.00011326 BTC.
• Litecoin (LTC) traded down 0.4% against the dollar and now trades at $93.14 or 0.00107620 BTC.
• Bitcoin Cash (BCH) traded down 0.4% against the dollar and now trades at $330.22 or 0.00381581 BTC.
• Monero (XMR) traded 0.7% higher against the dollar and now trades at $223.77 or 0.00258570 BTC.
• Ethereum Classic (ETC) traded down 1% against the dollar and now trades at $18.12 or 0.00020941 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• IOTA (MIOTA) traded up 4.4% against the dollar and now trades at $0.20 or 0.00000230 BTC.

Steem Profile

STEEM is a proof-of-work (PoW) coin that uses the PoS hashing algorithm. Its genesis date was March 24th, 2016. Steem’s total supply is 506,253,698 coins. 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. Steem’s official message board is steemit.com/@steemitblog. Steem’s official Twitter account is @steemit and its Facebook page is accessible here.

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.”

Steem Coin Trading

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

STEEM/USD price chart by TradingView