Steem Self Reported Market Capitalization Hits $34.40 Million (STEEM)

Steem (STEEM) traded 3.6% higher against the dollar during the twenty-four hour period ending at 7:00 AM ET on March 17th. Steem has a total market cap of $34.40 million and approximately $18.96 million worth of Steem was traded on exchanges in the last 24 hours. One Steem coin can currently be bought for about $0.0659 or 0.00000089 BTC on exchanges. In the last week, Steem has traded 10.9% higher against the dollar.

Here’s how other cryptocurrencies have performed in the last 24 hours:

• Arweave (AR) traded down 0% against the dollar and now trades at $1.90 or 0.00002574 BTC.
• Bitcoin (BTC) traded up 0.8% against the dollar and now trades at $73,740.29 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 0% against the dollar and now trades at $0.10 or 0.00000136 BTC.
• Bitcoin Cash (BCH) traded 0.2% higher against the dollar and now trades at $473.43 or 0.00642027 BTC.
• UNUS SED LEO (LEO) traded 0.6% higher against the dollar and now trades at $9.05 or 0.00012276 BTC.
• Monero (XMR) traded 1.3% higher against the dollar and now trades at $371.59 or 0.00503920 BTC.
• Zcash (ZEC) traded up 16.7% against the dollar and now trades at $273.10 or 0.00370354 BTC.
• Litecoin (LTC) traded 0.7% higher against the dollar and now trades at $57.66 or 0.00078187 BTC.
• Ethereum Classic (ETC) traded up 0.1% against the dollar and now trades at $8.85 or 0.00012002 BTC.
• NyanCoin (NYAN) traded down 2.2% 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 542,353,322 coins and its circulating supply is 522,267,379 coins. Steem’s official Twitter account is @steemit and its Facebook page is accessible here. The official website for Steem is steem.com. 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.

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 purchase alternative cryptocurrencies such as Steem directly using US dollars. Investors seeking to trade Steem should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Steem using one of the exchanges listed above.

STEEM/USD price chart by TradingView