Steem (STEEM) Price Tops $2.49 on Exchanges

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Tweet Steem (CURRENCY:STEEM) traded down 12.6% against the US dollar during the 1-day period ending at 9:00 AM ET on March 9th. Steem has a total market capitalization of $628.39 million and $5.38 million worth of Steem was traded on exchanges in the last 24 hours. One Steem coin can now be purchased for about…

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Steem (CURRENCY:STEEM) traded down 12.6% against the US dollar during the 1-day period ending at 9:00 AM ET on March 9th. Steem has a total market capitalization of $628.39 million and $5.38 million worth of Steem was traded on exchanges in the last 24 hours. One Steem coin can now be purchased for about $2.

49 or 0.00027407 BTC on major cryptocurrency exchanges including Poloniex, Upbit, OpenLedger DEX and Bittrex. Over the last week, Steem has traded down 23.7% against the US dollar.
Here is how other cryptocurrencies have performed over the last 24 hours: Get Steem alerts: Bitcoin (BTC) traded down 7.4% against the dollar and now trades at $9,180.

33 or 1. BTC. Bitcoin Cash (BCH) traded 7.

3% lower against the dollar and now trades at $1,004.11 or 0.11031300 BTC. PACcoin (PAC) traded flat against the dollar and now trades at $0.0000 or 0.

BTC. Counterparty (XCP) traded down 13.8% against the dollar and now trades at $14.41 or 0.

00158017 BTC.

Crown (CRW) traded 10.6% lower against the dollar and now trades at $1.92 or 0.

00021038 BTC. Unobtanium (UNO) traded 0.8% lower against the dollar and now trades at $160.23 or 0.

01756860 BTC. Namecoin (NMC) traded down 6.8% against the dollar and now trades at $1.

90 or 0.00020790 BTC. ATBCoin (ATB) traded down 11% against the dollar and now trades at $0.26 or 0.00002862 BTC.

CHIPS (CHIPS) traded 9.1% lower against the dollar and now trades at $0.40 or 0.00004386 BTC. Terracoin (TRC) traded up 14.

6% against the dollar and now trades at $0.19 or 0.00002051 BTC.

Steem Coin Profile Steem (CURRENCY: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 268,863,005 coins and its circulating supply is 251,888,911 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 website is steem.io .

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. “
Steem Coin Trading
Steem can be purchased on these cryptocurrency exchanges: Upbit, Bittrex, Poloniex, OpenLedger DEX and HitBTC.

It is not possible to purchase Steem directly using US dollars.

Investors seeking to acquire Steem must first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Steem using one of the exchanges listed above.

Receive News & Updates for Steem updates for Steem and related cryptocurrencies CryptoBeat .

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