Steem (CRYPTO:STEEM) Market Cap Reaches $952.33 Million Posted by Caroline Horne | Feb 22nd, 2018
Steem (CURRENCY:STEEM) traded down 4.2% against the dollar during the 1 day period ending at 0:00 AM ET on January 30th. In the last week, Steem has traded down 14.7% against the dollar. One Steem coin can now be bought for $3.
81 or 0.00035500 BTC on exchanges including OpenLedger DEX, HitBTC, Upbit and Poloniex.
Steem has a market capitalization of $952.33 million and approximately $8.74 million worth of Steem was traded on exchanges in the last 24 hours.
Here is how similar cryptocurrencies have performed in the last 24 hours: Get Steem alerts: Bitcoin (BTC) traded down 1.4% against the dollar and now trades at $10,904.50 or 1.
BTC.
Bitcoin Cash (BCH) traded 3.8% lower against the dollar and now trades at $1,334.16 or 0.12423700 BTC. PACcoin (PAC) traded 0.
1% higher against the dollar and now trades at $0.0000 or 0. BTC. Counterparty (XCP) traded 0.
3% higher against the dollar and now trades at $26.86 or 0.00251209 BTC. Crown (CRW) traded down 5.7% against the dollar and now trades at $2.58 or 0.
00024092 BTC. Namecoin (NMC) traded down 5% against the dollar and now trades at $2.78 or 0.00026032 BTC. Unobtanium (UNO) traded down 1.
7% against the dollar and now trades at $150.
70 or 0.01409300 BTC. ATBCoin (ATB) traded 1.5% lower against the dollar and now trades at $0.58 or 0.00005440 BTC.
CHIPS (CHIPS) traded down 7.8% against the dollar and now trades at $0.45 or 0.00004157 BTC. Terracoin (TRC) traded up 2.5% against the dollar and now trades at $0.23 or 0.
00002125 BTC.
Steem Coin Profile
Steem (STEEM) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. Its genesis date was July 4th, 2015. Steem’s total supply is 266,777,609 coins and its circulating supply is 249,803,515 coins. The Reddit community for Steem is /r/steemit and the currency’s Github account can be viewed here . Steem’s official website is steem.io .
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.
it is a blockchain-based social media platform where anyone can earn rewards by posting relevant content, curating quality content by upvoting and by holding Steem based currencies in a vest fund, which generates interest. There are three main currencies in Steemit: Steem, Steem Power (SP) and Steem Backed Dollars (SBD). Steem is liquid and can be bought in an exchange and converted into steem dollars or steem power. Steem Power is basically Steem that is locked in a vesting fund for 3 months. Users can use steem power to upvote content and get curating rewards. When a user upvotes content his steem power gets depleted and then slowly regenerated.
Steem Power holders recieve interest from their holdings. The more Steem Power a voter has the more revenue he’ll generate for himself (in form of SP) and for the content creator (In SBD). There is also an incentive to upvote content early, as the rewards are distributed according to time. The earliest votes gets the biggest share of the reward. Steem Backed Dollars are there to protect content creators from volatitlity and can be traded for roughly 1 usd worth of steem, in order to cash out from steem. Converting Steem backed dollars into STEEM takes 5 days.
Users also recieve interest from holding SBD. T Steem is a proof of work currency with a scheduled blocktime of 3 seconds. Steem PoW mining is done in rounds of 63 seconds by 21 miners (witnesses).
19 of the miners are pre voted, one is the other with the most computational power, and the last one is selected from a queue of witnesses that did not get on the top 19 voted witnesses. 90% of the block reward is allocated to a vest fund to reward curators and PoW miners, the other 10% are made liquid in the form of steem and are used to reward content creators.
Steem gets converted to Steem Backed Dollars and sent to the content creator. “
Buying and Selling Steem
Steem can be traded on these cryptocurrency exchanges: Upbit, Poloniex, Bittrex, OpenLedger DEX and HitBTC. It is not possible to purchase Steem directly using U.
S. dollars. Investors seeking to trade Steem must first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Changelly or Coinbase.
Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Steem using one of the exchanges listed above. Steem Steem .
