Steem Dollars Reaches Market Cap of $50.77 Million (SBD)

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Steem Dollars (CURRENCY:SBD) traded 13.8% lower against the dollar during the one day period ending at 23:00 PM E.T. on April 7th. Over the last seven days, Steem Dollars has traded down 13.6% against the dollar. One Steem Dollars coin can now be purchased for about $7.54 or 0.00013323 BTC on exchanges. Steem Dollars has a total market cap of $50.77 million and $114,966.00 worth of Steem Dollars was traded on exchanges in the last 24 hours.

Here’s how related cryptocurrencies have performed over the last 24 hours:

  • USDX [Kava] (USDX) traded down 2.9% against the dollar and now trades at $0.80 or 0.00001410 BTC.
  • USDx stablecoin (USDX) traded down 0.3% against the dollar and now trades at $1.00 or 0.00008734 BTC.
  • USDX [Lighthouse] (USDX) traded 8.9% lower against the dollar and now trades at $0.80 or 0.00001416 BTC.
  • Dollars (USDX) traded down 4.2% against the dollar and now trades at $0.14 or 0.00000245 BTC.
  • dForce USDx (USDX) traded 1.2% lower against the dollar and now trades at $0.99 or 0.00001755 BTC.

Steem Dollars Coin Profile

SBD is a distributed proof-of-stake (dPOS) coin that uses the SHA-256 hashing algorithm. Its genesis date was June 4th, 2016. Steem Dollars’ total supply is 6,734,359 coins. Steem Dollars’ official Twitter account is @steemit and its Facebook page is accessible here. The official website for Steem Dollars is Steem Dollars’ official message board is The Reddit community for Steem Dollars is /r/steemit and the currency’s Github account can be viewed here.

According to CryptoCompare, “Steem Backed Dollars or simply Steem Dollars are stable value pegged assets issued in the platform. SBD are pegged to the value of the USD and can be redeemed on the platform for about one dollar worth of Steem.  When Content creators receive rewards on the platform they are made available in 50% Steem Power, which can be redeemed continuously over a period of 104 weeks, and 50% SBD which can be fully redeemed for Steem in a 5 day period. SBD can also be transfered on the Steem Platform and can be exchanged outside of the Platform.   “

Steem Dollars Coin Trading

It is usually not currently possible to buy alternative cryptocurrencies such as Steem Dollars directly using US dollars. Investors seeking to acquire Steem Dollars should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Steem Dollars using one of the aforementioned exchanges.

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