Steem (STEEM) Reaches One Day Trading Volume of $5.79 Million

Steem (STEEM) traded 0.8% lower against the US dollar during the one day period ending at 7:00 AM E.T. on February 17th. One Steem coin can now be purchased for $0.0516 or 0.00000076 BTC on exchanges. Over the last seven days, Steem has traded up 1.7% against the US dollar. Steem has a market capitalization of $26.95 million and approximately $5.79 million worth of Steem was traded on exchanges in the last day.

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

• Arweave (AR) traded 0.3% higher against the dollar and now trades at $2.02 or 0.00002965 BTC.
• Bitcoin (BTC) traded down 2.5% against the dollar and now trades at $68,045.24 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 2.7% lower against the dollar and now trades at $0.0991 or 0.00000146 BTC.
• Bitcoin Cash (BCH) traded 0.4% higher against the dollar and now trades at $561.52 or 0.00825217 BTC.
• UNUS SED LEO (LEO) traded up 2.4% against the dollar and now trades at $8.69 or 0.00012764 BTC.
• Monero (XMR) traded up 0.8% against the dollar and now trades at $331.67 or 0.00487431 BTC.
• Zcash (ZEC) traded 1.3% lower against the dollar and now trades at $291.93 or 0.00429016 BTC.
• Litecoin (LTC) traded 1.7% higher against the dollar and now trades at $54.87 or 0.00080637 BTC.
• Ethereum Classic (ETC) traded down 0.3% against the dollar and now trades at $8.68 or 0.00012759 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.

Steem Profile

Steem is a proof-of-work (PoW) coin that uses the PoS hashing algorithm. Its genesis date was March 24th, 2016. Steem’s total supply is 539,824,609 coins and its circulating supply is 522,267,379 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. The official website for Steem is steem.com. 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 currently 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 Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Steem using one of the aforementioned exchanges.

STEEM/USD price chart by TradingView