Posted by Tatum Peregrin on Feb 22nd, 2018 // No Comments
Steem (CURRENCY:STEEM) traded 10.5% lower against the US dollar during the one day period ending at 11:00 AM Eastern on February 15th. Steem has a total market cap of $869.31 million and approximately $7.
86 million worth of Steem was traded on exchanges in the last day. Over the last week, Steem has traded 22.1% lower against the US dollar. One Steem coin can currently be bought for about $3.
48 or 0.00034605 BTC on popular cryptocurrency exchanges including OpenLedger DEX, Bittrex, Upbit and HitBTC.
Here is how similar cryptocurrencies have performed over the last day: Get Steem alerts: Bitcoin (BTC) traded down 5% against the dollar and now trades at $10,208.50 or 1. BTC. Bitcoin Cash (BCH) traded 7.
5% lower against the dollar and now trades at $1,225.01 or 0.
12183800 BTC. PACcoin (PAC) traded down 4.9% against the dollar and now trades at $0.0000 or 0. BTC. Counterparty (XCP) traded down 9.5% against the dollar and now trades at $24.40 or 0.
00242688 BTC. Crown (CRW) traded 11.3% lower against the dollar and now trades at $2.34 or 0.00023269 BTC. Namecoin (NMC) traded 7.
4% lower against the dollar and now trades at $2.59 or 0.
00025694 BTC. Unobtanium (UNO) traded down 3.2% against the dollar and now trades at $149.13 or 0.
01482140 BTC. ATBCoin (ATB) traded 6% lower against the dollar and now trades at $0.55 or 0.00005483 BTC.
CHIPS (CHIPS) traded down 12.7% against the dollar and now trades at $0.34 or 0.00003366 BTC. Terracoin (TRC) traded down 7.3% against the dollar and now trades at $0.21 or 0.00002131 BTC.
Steem Coin Profile
Steem (STEEM) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. Its launch date was July 4th, 2015. Steem’s total supply is 266,825,952 coins and its circulating supply is 249,851,858 coins. The Reddit community for Steem is /r/steemit and the currency’s Github account can be viewed here . The official message board for Steem is steemit.com/@steemitblog . Steem’s official Twitter account is @steemit and its Facebook page is accessible here . Steem’s official website is steem.
io .
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: OpenLedger DEX, HitBTC, Poloniex, Bittrex and Upbit. It is not currently possible to purchase Steem directly using US dollars. Investors seeking to trade Steem must first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Steem using one of the exchanges listed above.
Steem Steem .
