Steem Tops One Day Trading Volume of $64.01 Million (CRYPTO:STEEM) Posted by Caroline Horne | Feb 6th, 2018
Steem (CURRENCY:STEEM) traded 4.6% lower against the dollar during the one day period ending at 12:00 PM E.T.
on January 30th. Over the last week, Steem has traded down 37.8% against the dollar.
Steem has a total market cap of $794.
92 million and approximately $64.01 million worth of Steem was traded on exchanges in the last day. One Steem coin can currently be purchased for $3.19 or 0.00044905 BTC on major cryptocurrency exchanges including OpenLedger DEX, HitBTC, Bittrex and Poloniex.
Here’s how other cryptocurrencies have performed over the last day: Get Steem alerts: Bitcoin (BTC) traded down 3.
6% against the dollar and now trades at $7,081.66 or 1.
BTC. Bitcoin Cash (BCH) traded down 6% against the dollar and now trades at $892.
14 or 0.12543800 BTC. PACcoin (PAC) traded 34.8% higher against the dollar and now trades at $0.0000 or 0. BTC.
Counterparty (XCP) traded 0.1% higher against the dollar and now trades at $24.20 or 0.00343362 BTC.
Crown (CRW) traded 0.2% higher against the dollar and now trades at $2.01 or 0.00028518 BTC.
Namecoin (NMC) traded down 6.1% against the dollar and now trades at $2.15 or 0.
00030492 BTC.
Unobtanium (UNO) traded 14.2% lower against the dollar and now trades at $114.60 or 0.01626090 BTC.
ATBCoin (ATB) traded up 3.3% against the dollar and now trades at $0.32 or 0.00004532 BTC. CHIPS (CHIPS) traded 2.
9% lower against the dollar and now trades at $0.24 or 0.00003376 BTC. Terracoin (TRC) traded down 7.5% against the dollar and now trades at $0.
17 or 0.00002417 BTC.
Steem Profile
STEEM is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It launched on July 4th, 2015. Steem’s total supply is 265,873,343 coins and its circulating supply is 248,899,249 coins.
The official message board for Steem 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 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: Bittrex, HitBTC, Upbit, Poloniex and OpenLedger DEX. It is not 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 Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Steem using one of the aforementioned exchanges. Receive News & Ratings for Steem analysts’ ratings for Steem and related companies daily email newsletter . «.
