Steem (STEEM) Trading Down 2.1% This Week

Steem (STEEM) traded up 1.4% against the U.S. dollar during the 1-day period ending at 8:00 AM E.T. on July 11th. Steem has a total market capitalization of $21.56 million and approximately $2.93 million worth of Steem was traded on exchanges in the last 24 hours. During the last week, Steem has traded 2.1% lower against the U.S. dollar. One Steem coin can now be bought for approximately $0.0413 or 0.00000064 BTC on popular cryptocurrency exchanges.

Here is how other cryptocurrencies have performed during the last 24 hours:

• Arweave (AR) traded 0.1% higher against the dollar and now trades at $1.99 or 0.00003110 BTC.
• Bitcoin (BTC) traded 0.3% lower against the dollar and now trades at $64,136.30 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 0.7% higher against the dollar and now trades at $0.0745 or 0.00000116 BTC.
• UNUS SED LEO (LEO) traded up 2% against the dollar and now trades at $9.56 or 0.00014913 BTC.
• Zcash (ZEC) traded 0.2% higher against the dollar and now trades at $503.28 or 0.00784711 BTC.
• Monero (XMR) traded up 0.3% against the dollar and now trades at $319.46 or 0.00498091 BTC.
• Bitcoin Cash (BCH) traded 0.8% lower against the dollar and now trades at $247.38 or 0.00385714 BTC.
• Litecoin (LTC) traded up 1.4% against the dollar and now trades at $45.14 or 0.00070379 BTC.
• Ethereum Classic (ETC) traded 0.1% lower against the dollar and now trades at $7.08 or 0.00011032 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.

About Steem

Steem (CRYPTO: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 552,483,272 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. The official website for Steem is steem.com. Steem’s official Twitter account is @steemit and its Facebook page is accessible 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.”

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 GDAX, Gemini 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