Steem Trading 5.6% Lower This Week (STEEM)

Steem (STEEM) traded 1.1% higher against the dollar during the twenty-four hour period ending at 11:00 AM Eastern on January 17th. Steem has a total market cap of $124.26 million and approximately $39.82 million worth of Steem was traded on exchanges in the last 24 hours. During the last seven days, Steem has traded down 5.6% against the dollar. One Steem coin can now be purchased for approximately $0.26 or 0.00000249 BTC on popular cryptocurrency exchanges.

Here is how related cryptocurrencies have performed during the last 24 hours:

• Bitcoin (BTC) traded up 5.2% against the dollar and now trades at $103,873.84 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 9.7% higher against the dollar and now trades at $0.41 or 0.00000398 BTC.
• Litecoin (LTC) traded up 9.1% against the dollar and now trades at $134.89 or 0.00129863 BTC.
• Bitcoin Cash (BCH) traded up 4.9% against the dollar and now trades at $480.10 or 0.00462195 BTC.
• UNUS SED LEO (LEO) traded up 1.4% against the dollar and now trades at $9.74 or 0.00009381 BTC.
• Ethereum Classic (ETC) traded up 4.6% against the dollar and now trades at $27.83 or 0.00026788 BTC.
• Monero (XMR) traded up 3.8% against the dollar and now trades at $223.74 or 0.00215398 BTC.
• IOTA (MIOTA) traded 0.5% lower against the dollar and now trades at $0.40 or 0.00000381 BTC.
• Bitcoin SV (BSV) traded 3.5% higher against the dollar and now trades at $58.39 or 0.00056209 BTC.
• Arweave (AR) traded up 4.2% against the dollar and now trades at $17.60 or 0.00016946 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 481,086,158 coins. The official website for Steem 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. 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.”

Steem Coin Trading

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

STEEM/USD price chart by TradingView