Steem Price Down 8.5% Over Last Week (STEEM)

Steem (STEEM) traded 0.6% higher against the U.S. dollar during the 1-day period ending at 7:00 AM ET on March 25th. One Steem coin can now be bought for approximately $0.0606 or 0.00000084 BTC on major exchanges. During the last week, Steem has traded down 8.5% against the U.S. dollar. Steem has a market cap of $31.67 million and $9.91 million worth of Steem was traded on exchanges in the last day.

Here’s how related cryptocurrencies have performed during the last day:

• Arweave (AR) traded 2.7% higher against the dollar and now trades at $1.91 or 0.00002657 BTC.
• Bitcoin (BTC) traded up 0.8% against the dollar and now trades at $71,794.46 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 2.9% against the dollar and now trades at $0.0971 or 0.00000135 BTC.
• Bitcoin Cash (BCH) traded 1% higher against the dollar and now trades at $478.54 or 0.00666454 BTC.
• UNUS SED LEO (LEO) traded 0.1% higher against the dollar and now trades at $9.46 or 0.00013171 BTC.
• Monero (XMR) traded down 1.6% against the dollar and now trades at $338.83 or 0.00471884 BTC.
• Litecoin (LTC) traded up 1.4% against the dollar and now trades at $56.51 or 0.00078704 BTC.
• Zcash (ZEC) traded 3.1% higher against the dollar and now trades at $238.24 or 0.00331788 BTC.
• Ethereum Classic (ETC) traded up 3.4% against the dollar and now trades at $8.73 or 0.00012161 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.

About Steem

STEEM is a proof-of-work (PoW) coin that uses the PoS hashing algorithm. It was first traded on March 24th, 2016. Steem’s total supply is 543,018,805 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. 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.

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 presently 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 Changelly, GDAX or Coinbase. 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