Steem (STEEM) Market Cap Tops $880.78 Million Posted by Dante Gardener | Feb 28th, 2018
Steem (CURRENCY:STEEM) traded down 0.4% against the dollar during the 1-day period ending at 0:00 AM ET on February 27th. Steem has a market capitalization of $880.78 million and approximately $5.55 million worth of Steem was traded on exchanges in the last day. In the last seven days, Steem has traded down 12.
6% against the dollar. One Steem coin can currently be bought for approximately $3.51 or 0.00032184 BTC on major cryptocurrency exchanges including Upbit, OpenLedger DEX, Bittrex and Poloniex.
Here’s how related cryptocurrencies have performed in the last day: Get Steem alerts: Bitcoin (BTC) traded up 5.
6% against the dollar and now trades at $10,939.10 or 1. BTC.
Bitcoin Cash (BCH) traded up 1% against the dollar and now trades at $1,263.35 or 0.11572900 BTC. PACcoin (PAC) traded up 6.2% against the dollar and now trades at $0.0000 or 0.
BTC. Counterparty (XCP) traded up 9.2% against the dollar and now trades at $23.
25 or 0.
00213018 BTC. Crown (CRW) traded 17.1% higher against the dollar and now trades at $2.
90 or 0.00026585 BTC.
Namecoin (NMC) traded 3.3% higher against the dollar and now trades at $2.
70 or 0.00024759 BTC. Unobtanium (UNO) traded 1.9% higher against the dollar and now trades at $146.17 or 0.01338950 BTC. ATBCoin (ATB) traded down 0.4% against the dollar and now trades at $0.
45 or 0.00004122 BTC. CHIPS (CHIPS) traded 9.6% higher against the dollar and now trades at $0.41 or 0.00003756 BTC. Terracoin (TRC) traded 4.1% higher against the dollar and now trades at $0.
22 or 0.
00002029 BTC.
About Steem
Steem (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 267,671,564 coins and its circulating supply is 250,697,470 coins. 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 . The official message board for Steem is steemit.
com/@steemitblog . The official website for Steem 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 bought or sold on the following cryptocurrency exchanges: HitBTC, Bittrex, Upbit, Poloniex and OpenLedger DEX. It is not currently possible to buy Steem directly using US dollars.
Investors seeking to trade Steem must first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Steem using one of the exchanges listed above. Receive News & Updates for Steem updates for Steem and related cryptocurrencies CryptoBeat newsletter . «.
