Steem Self Reported Market Capitalization Achieves $31.67 Million (STEEM)

Steem (STEEM) traded 0.6% higher against the dollar during the 24 hour period ending at 7:00 AM Eastern on March 25th. One Steem coin can currently be purchased for about $0.0606 or 0.00000084 BTC on exchanges. Over the last week, Steem has traded down 8.5% against the dollar. Steem has a total market capitalization of $31.67 million and $9.91 million worth of Steem was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed over the last day:

• Arweave (AR) traded 2.7% higher against the dollar and now trades at $1.91 or 0.00002657 BTC.
• Bitcoin (BTC) traded up 0.8% against the dollar and now trades at $71,794.46 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 2.9% against the dollar and now trades at $0.0971 or 0.00000135 BTC.
• Bitcoin Cash (BCH) traded 1% higher against the dollar and now trades at $478.54 or 0.00666454 BTC.
• UNUS SED LEO (LEO) traded 0.1% higher against the dollar and now trades at $9.46 or 0.00013171 BTC.
• Monero (XMR) traded down 1.6% against the dollar and now trades at $338.83 or 0.00471884 BTC.
• Litecoin (LTC) traded up 1.4% against the dollar and now trades at $56.51 or 0.00078704 BTC.
• Zcash (ZEC) traded up 3.1% against the dollar and now trades at $238.24 or 0.00331788 BTC.
• Ethereum Classic (ETC) traded 3.4% higher against the dollar and now trades at $8.73 or 0.00012161 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

Steem Profile

Steem (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 543,018,805 coins and its circulating supply is 522,267,379 coins. Steem’s official message board is steemit.com/@steemitblog. Steem’s official Twitter account is @steemit and its Facebook page is accessible here. The official website for Steem is steem.com. The Reddit community for Steem is https://reddit.com/r/steemit and the currency’s Github account can be viewed 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.”

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 Gemini, Coinbase or GDAX. 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