Steem (STEEM) 24 Hour Trading Volume Reaches $23.05 Million

Steem (STEEM) traded down 3% against the U.S. dollar during the 24-hour period ending at 10:00 AM ET on February 22nd. One Steem coin can now be purchased for $0.17 or 0.00000177 BTC on major cryptocurrency exchanges. Over the last seven days, Steem has traded 1.6% lower against the U.S. dollar. Steem has a market cap of $85.23 million and approximately $23.05 million worth of Steem was traded on exchanges in the last day.

Here is how other cryptocurrencies have performed over the last day:

• Bitcoin (BTC) traded 1.6% lower against the dollar and now trades at $96,585.74 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 5.1% lower against the dollar and now trades at $0.24 or 0.00000253 BTC.
• Litecoin (LTC) traded down 4.9% against the dollar and now trades at $127.41 or 0.00131944 BTC.
• UNUS SED LEO (LEO) traded 0.4% lower against the dollar and now trades at $9.71 or 0.00010053 BTC.
• Bitcoin Cash (BCH) traded 3% lower against the dollar and now trades at $319.40 or 0.00330760 BTC.
• Monero (XMR) traded down 1.5% against the dollar and now trades at $234.26 or 0.00242593 BTC.
• Ethereum Classic (ETC) traded down 4.4% against the dollar and now trades at $20.32 or 0.00021038 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• IOTA (MIOTA) traded 6.2% lower against the dollar and now trades at $0.22 or 0.00000231 BTC.
• Bitcoin SV (BSV) traded 4.1% lower against the dollar and now trades at $37.15 or 0.00038474 BTC.

About Steem

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 497,806,387 coins. The official message board for Steem is steemit.com/@steemitblog. 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. The official website for Steem is steem.com.

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 buy alternative cryptocurrencies such as Steem directly using U.S. dollars. Investors seeking to acquire Steem should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, GDAX or Changelly. 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