Steem (STEEM) Trading Up 19.2% This Week Posted by Dante Gardener | Jan 26th, 2018
Steem (CURRENCY:STEEM) traded down 6.9% against the U.S. dollar during the 24-hour period ending at 20:00 PM Eastern on January 26th. Steem has a market cap of $1.50 billion and $221.15 million worth of Steem was traded on exchanges in the last day.
One Steem coin can currently be bought for about $6.07 or 0.00054930 BTC on exchanges including HitBTC, Bittrex, OpenLedger DEX and Upbit. In the last seven days, Steem has traded 19.2% higher against the U.S. dollar.
Here’s how related cryptocurrencies have performed in the last day: Get Steem alerts: Bitcoin (BTC) traded down 2.
1% against the dollar and now trades at $11,134.90 or 1. BTC. Bitcoin Cash (BCH) traded down 3% against the dollar and now trades at $1,601.
86 or 0.14504100 BTC. PACcoin (PAC) traded 7.1% lower against the dollar and now trades at $0.
0001 or 0. 1 BTC. Counterparty (XCP) traded down 12.3% against the dollar and now trades at $49.73 or 0.00450261 BTC.
Crown (CRW) traded 1.5% lower against the dollar and now trades at $3.55 or 0.00032105 BTC. Namecoin (NMC) traded 1.
4% lower against the dollar and now trades at $3.
80 or 0.00034408 BTC. Unobtanium (UNO) traded down 2.6% against the dollar and now trades at $130.
55 or 0.01182050 BTC.
ATBCoin (ATB) traded 23.8% lower against the dollar and now trades at $0.58 or 0.00005244 BTC. CHIPS (CHIPS) traded 8.8% lower against the dollar and now trades at $0.42 or 0.
00003847 BTC. Terracoin (TRC) traded down 1.5% against the dollar and now trades at $0.31 or 0.00002836 BTC.
Steem Profile
Steem (CURRENCY: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 264,467,210 coins and its circulating supply is 247,493,116 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 . 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. “
Steem Coin Trading
Steem can be purchased on the following cryptocurrency exchanges: Upbit, Poloniex, HitBTC, Bittrex and OpenLedger DEX. It is not presently possible to buy Steem directly using U.S. dollars. Investors seeking to trade Steem must first buy Ethereum or Bitcoin using an exchange that deals in U.S.
dollars such as GDAX, Gemini 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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