Steem (STEEM) Hits One Day Trading Volume of $3.53 Million

Steem (STEEM) traded down 0.9% against the US dollar during the 1-day period ending at 7:00 AM Eastern on June 17th. One Steem coin can currently be purchased for approximately $0.0452 or 0.00000070 BTC on major cryptocurrency exchanges. In the last week, Steem has traded up 5.1% against the US dollar. Steem has a total market cap of $23.62 million and $3.53 million worth of Steem was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

• Arweave (AR) traded 0.8% lower against the dollar and now trades at $2.04 or 0.00003152 BTC.
• Bitcoin (BTC) traded down 2.5% against the dollar and now trades at $64,724.40 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 2.4% lower against the dollar and now trades at $0.0858 or 0.00000133 BTC.
• UNUS SED LEO (LEO) traded down 0.7% against the dollar and now trades at $9.70 or 0.00014994 BTC.
• Zcash (ZEC) traded 3.4% lower against the dollar and now trades at $495.77 or 0.00765976 BTC.
• Monero (XMR) traded down 1.4% against the dollar and now trades at $340.61 or 0.00526253 BTC.
• Bitcoin Cash (BCH) traded 2.9% lower against the dollar and now trades at $211.49 or 0.00326757 BTC.
• Litecoin (LTC) traded down 0.8% against the dollar and now trades at $45.00 or 0.00069522 BTC.
• Ethereum Classic (ETC) traded 0.8% lower against the dollar and now trades at $7.30 or 0.00011272 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

Steem Coin Profile

Steem (CRYPTO:STEEM) is a proof-of-work (PoW) coin that uses the PoS hashing algorithm. It launched on March 24th, 2016. Steem’s total supply is 550,218,250 coins and its circulating supply is 522,267,379 coins. Steem’s official message board is steemit.com/@steemitblog. Steem’s official website is steem.com. Steem’s official Twitter account is @steemit and its Facebook page is accessible here. 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 possible to purchase alternative cryptocurrencies such as Steem directly using US dollars. Investors seeking to acquire Steem should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Steem using one of the exchanges listed above.

STEEM/USD price chart by TradingView