Steem (STEEM) Achieves Self Reported Market Capitalization of $31.58 Million

Steem (STEEM) traded down 0.3% against the dollar during the one day period ending at 7:00 AM Eastern on February 25th. One Steem coin can now be bought for about $0.0605 or 0.00000092 BTC on cryptocurrency exchanges. Steem has a total market cap of $31.58 million and $88.21 million worth of Steem was traded on exchanges in the last day. Over the last week, Steem has traded down 1.7% against the dollar.

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

• Arweave (AR) traded down 5.7% against the dollar and now trades at $1.73 or 0.00002639 BTC.
• Bitcoin (BTC) traded 5.2% higher against the dollar and now trades at $65,423.14 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 3.3% higher against the dollar and now trades at $0.0941 or 0.00000144 BTC.
• Bitcoin Cash (BCH) traded 2% higher against the dollar and now trades at $487.42 or 0.00744917 BTC.
• UNUS SED LEO (LEO) traded 9.6% higher against the dollar and now trades at $8.69 or 0.00013279 BTC.
• Monero (XMR) traded 4.5% higher against the dollar and now trades at $339.58 or 0.00518970 BTC.
• Litecoin (LTC) traded up 5.4% against the dollar and now trades at $53.37 or 0.00081560 BTC.
• Zcash (ZEC) traded up 2% against the dollar and now trades at $238.27 or 0.00364142 BTC.
• Ethereum Classic (ETC) traded up 5% against the dollar and now trades at $8.55 or 0.00013070 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

About Steem

Steem (CRYPTO:STEEM) is a proof-of-work (PoW) coin that uses the PoS hashing algorithm. It was first traded on March 24th, 2016. Steem’s total supply is 540,572,552 coins and its circulating supply is 522,267,379 coins. The official message board for Steem is steemit.com/@steemitblog. Steem’s official website is steem.com. The Reddit community for Steem is https://reddit.com/r/steemit and the currency’s Github account can be viewed here. 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 presently possible to purchase alternative cryptocurrencies such as Steem directly using U.S. dollars. Investors seeking to acquire Steem should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Steem using one of the exchanges listed above.

STEEM/USD price chart by TradingView