1st, 2018 // No Comments
Steem (CURRENCY:STEEM) traded down 15.9% against the US dollar during the 24 hour period ending at 0:00 AM Eastern on February 1st. Over the last week, Steem has traded 31.8% lower against the US dollar.
Steem has a market cap of $1.05 billion and approximately $177.04 million worth of Steem was traded on exchanges in the last 24 hours. One Steem coin can currently be purchased for about $4.
21 or 0.00048404 BTC on cryptocurrency exchanges including HitBTC, OpenLedger DEX, Upbit and Bittrex.
Here’s how similar cryptocurrencies have performed over the last 24 hours: Get Steem alerts: Bitcoin (BTC) traded down 14.3% against the dollar and now trades at $8,722.22 or 1. BTC. Bitcoin Cash (BCH) traded down 19.9% against the dollar and now trades at $1,180.
32 or 0.13556800 BTC.
PACcoin (PAC) traded 20.4% lower against the dollar and now trades at $0.0001 or 0. 1 BTC. Counterparty (XCP) traded 30% lower against the dollar and now trades at $30.65 or 0.
00352060 BTC. Crown (CRW) traded 6% higher against the dollar and now trades at $3.00 or 0.00034411 BTC. Namecoin (NMC) traded 15.7% lower against the dollar and now trades at $2.92 or 0.00033554 BTC.
Unobtanium (UNO) traded 2.8% lower against the dollar and now trades at $117.49 or 0.
ATBCoin (ATB) traded 24.5% lower against the dollar and now trades at $0.37 or 0.00004230 BTC.
CHIPS (CHIPS) traded down 8.7% against the dollar and now trades at $0.28 or 0.00003165 BTC. Terracoin (TRC) traded 14.5% lower against the dollar and now trades at $0.22 or 0.00002557 BTC.
Steem Profile Steem (CURRENCY: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 265,116,285 coins and its circulating supply is 248,142,191 coins. Steem’s official Twitter account is @steemit and its Facebook page is accessible here . 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 website is steem.
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 purchased on the following cryptocurrency exchanges: OpenLedger DEX, HitBTC, Bittrex, Poloniex and Upbit. 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 Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Steem using one of the exchanges listed above.
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