Steem Hits 24 Hour Volume of $3.51 Million (STEEM)

Steem (STEEM) traded 1.4% higher against the U.S. dollar during the 1 day period ending at 8:00 AM Eastern on September 21st. Steem has a market capitalization of $29.44 million and approximately $3.51 million worth of Steem was traded on exchanges in the last 24 hours. In the last week, Steem has traded down 2.2% against the U.S. dollar. One Steem coin can now be bought for about $0.0564 or 0.00000066 BTC on popular exchanges.

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

• Arweave (AR) traded up 8.9% against the dollar and now trades at $4.68 or 0.00005495 BTC.
• Bitcoin (BTC) traded up 6% against the dollar and now trades at $85,214.06 or 1.00000000 BTC.
• Zcash (ZEC) traded 6.8% higher against the dollar and now trades at $1,544.10 or 0.01812028 BTC.
• Dogecoin (DOGE) traded 10% higher against the dollar and now trades at $0.0936 or 0.00000110 BTC.
• Monero (XMR) traded up 8.9% against the dollar and now trades at $572.76 or 0.00672138 BTC.
• UNUS SED LEO (LEO) traded down 0.2% against the dollar and now trades at $8.93 or 0.00010478 BTC.
• Bitcoin Cash (BCH) traded 9.6% higher against the dollar and now trades at $270.20 or 0.00317079 BTC.
• Litecoin (LTC) traded 6.5% higher against the dollar and now trades at $60.84 or 0.00071402 BTC.
• Ethereum Classic (ETC) traded up 6% against the dollar and now trades at $8.78 or 0.00010303 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.

Steem Coin Profile

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 558,669,576 coins and its circulating supply is 522,267,379 coins. Steem’s official Twitter account is @steemit and its Facebook page is accessible here. Steem’s official website is steem.com. The Reddit community for Steem is https://reddit.com/r/steemit and the currency’s Github account can be viewed here. Steem’s official message board is steemit.com/@steemitblog.

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 Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. 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