Steem Self Reported Market Capitalization Achieves $28.22 Million (STEEM)

Steem (STEEM) traded down 5.9% against the dollar during the 1-day period ending at 8:00 AM ET on September 17th. One Steem coin can currently be bought for approximately $0.0540 or 0.00000071 BTC on major cryptocurrency exchanges. In the last seven days, Steem has traded up 19.5% against the dollar. Steem has a market capitalization of $28.22 million and approximately $10.15 million worth of Steem was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed in the last day:

• Arweave (AR) traded up 3% against the dollar and now trades at $2.58 or 0.00003373 BTC.
• Bitcoin (BTC) traded 1.3% higher against the dollar and now trades at $76,427.97 or 1.00000000 BTC.
• Zcash (ZEC) traded 10.9% higher against the dollar and now trades at $1,361.98 or 0.01782049 BTC.
• Dogecoin (DOGE) traded up 1% against the dollar and now trades at $0.0809 or 0.00000106 BTC.
• Monero (XMR) traded down 0.8% against the dollar and now trades at $501.39 or 0.00656029 BTC.
• UNUS SED LEO (LEO) traded up 0.6% against the dollar and now trades at $8.93 or 0.00011679 BTC.
• Bitcoin Cash (BCH) traded up 2.1% against the dollar and now trades at $223.57 or 0.00292524 BTC.
• Litecoin (LTC) traded up 4% against the dollar and now trades at $52.84 or 0.00069140 BTC.
• Ethereum Classic (ETC) traded 1.8% higher against the dollar and now trades at $7.34 or 0.00009605 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 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 558,293,072 coins and its circulating supply is 522,267,379 coins. The Reddit community for Steem is https://reddit.com/r/steemit and the currency’s Github account can be viewed here. The official message board for Steem is steemit.com/@steemitblog. Steem’s official Twitter account is @steemit and its Facebook page is accessible here. Steem’s official website 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 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 GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Steem using one of the aforementioned exchanges.

STEEM/USD price chart by TradingView