Steem Market Capitalization Achieves $1.21 Billion (CRYPTO:STEEM) Posted by Donald Scott | Feb 10th, 2018
Steem (CURRENCY:STEEM) traded 18.3% higher against the dollar during the 24-hour period ending at 3:00 AM ET on January 18th. One Steem coin can currently be purchased for about $4.87 or 0.00054305 BTC on exchanges including Upbit, Bittrex, HitBTC and Poloniex.
Steem has a market cap of $1.21 billion and approximately $105.54 million worth of Steem was traded on exchanges in the last day. In the last week, Steem has traded 21.
5% higher against the dollar.
Here’s how similar cryptocurrencies have performed in the last day: Get Steem alerts: Bitcoin (BTC) traded 12.5% higher against the dollar and now trades at $9,054.17 or 1. BTC. Bitcoin Cash (BCH) traded up 6.
9% against the dollar and now trades at $1,364.23 or 0.
15216300 BTC. PACcoin (PAC) traded 83% higher against the dollar and now trades at $0.0000 or 0. 1 BTC. Counterparty (XCP) traded up 22.2% against the dollar and now trades at $32.
31 or 0.00360922 BTC. Crown (CRW) traded up 9.1% against the dollar and now trades at $2.59 or 0.00028949 BTC.
Namecoin (NMC) traded 13.6% higher against the dollar and now trades at $2.64 or 0.00029520 BTC. Unobtanium (UNO) traded 9.6% higher against the dollar and now trades at $141.
22 or 0.01577630 BTC. ATBCoin (ATB) traded up 13.9% against the dollar and now trades at $0.41 or 0.00004634 BTC.
CHIPS (CHIPS) traded up 9.9% against the dollar and now trades at $0.37 or 0.00004140 BTC. Terracoin (TRC) traded 7.8% higher against the dollar and now trades at $0.20 or 0.
00002235 BTC.
Steem Profile
Steem is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It was first traded on July 4th, 2015. Steem’s total supply is 266,156,876 coins and its circulating supply is 249,182,782 coins. Steem’s official website is steem.io . Steem’s official message board is steemit.
com/@steemitblog . The Reddit community for Steem is /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 .
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.
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Steem Coin Trading
Steem can be bought or sold on the following cryptocurrency exchanges: Poloniex, OpenLedger DEX, HitBTC, Upbit and Bittrex. It is not presently possible to buy Steem directly using US dollars.
Investors seeking to acquire Steem must first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Steem using one of the exchanges listed above. Steem Steem .
