Steem One Day Volume Hits $21.41 Million (STEEM)

Steem (STEEM) traded down 5.8% against the dollar during the twenty-four hour period ending at 10:00 AM Eastern on February 6th. Steem has a market capitalization of $81.88 million and approximately $21.41 million worth of Steem was traded on exchanges in the last day. Over the last seven days, Steem has traded 19.7% lower against the dollar. One Steem coin can currently be bought for about $0.17 or 0.00000173 BTC on major exchanges.

Here is how other cryptocurrencies have performed over the last day:

• Bitcoin (BTC) traded down 0.1% against the dollar and now trades at $98,280.78 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 3.3% lower against the dollar and now trades at $0.26 or 0.00000264 BTC.
• UNUS SED LEO (LEO) traded 0% higher against the dollar and now trades at $9.82 or 0.00009992 BTC.
• Litecoin (LTC) traded 1.6% lower against the dollar and now trades at $104.93 or 0.00106764 BTC.
• Bitcoin Cash (BCH) traded down 3.2% against the dollar and now trades at $326.28 or 0.00331991 BTC.
• Monero (XMR) traded 0.6% higher against the dollar and now trades at $229.58 or 0.00233601 BTC.
• Ethereum Classic (ETC) traded 3.6% lower against the dollar and now trades at $20.52 or 0.00020883 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• IOTA (MIOTA) traded 6.3% lower against the dollar and now trades at $0.22 or 0.00000224 BTC.
• Bitcoin SV (BSV) traded down 5% against the dollar and now trades at $39.65 or 0.00040342 BTC.

Steem Profile

Steem (STEEM) is a proof-of-work (PoW) coin that uses the PoS hashing algorithm. It was first traded on March 24th, 2016. Steem’s total supply is 482,675,325 coins. Steem’s official Twitter account is @steemit and its Facebook page is accessible here. The Reddit community for Steem is https://reddit.com/r/steemit and the currency’s Github account can be viewed here. The official message board for Steem is steemit.com/@steemitblog. The official website for Steem is steem.com.

According to CryptoCompare, “Steem is a blockchain platform designed to reward content creation and curation with cryptocurrency, launched in 2016 by Ned Scott and Dan Larimer. It uses a Delegated Proof of Stake (DPoS) consensus mechanism, ensuring fast, fee-free transactions and decentralised governance. The platform’s three-token system includes STEEM, the native token used for rewards and liquidity; Steem Power (SP), a vested token for staking and governance; and Steem Dollars (SBD), a stablecoin intended to be pegged to the US dollar but often subject to volatility. STEEM is primarily used to reward users for posting and curating content, peer-to-peer transfers, and staking for governance. SP increases voting influence, while SBD offers a more stable, though fluctuating, form of payment. Steem’s core application is Steemit, a decentralised social media platform where users earn rewards directly from blockchain protocol incentives.”

Buying and Selling Steem

It is usually not presently possible to buy alternative cryptocurrencies such as Steem directly using U.S. dollars. Investors seeking to trade Steem should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Steem using one of the aforementioned exchanges.

STEEM/USD price chart by TradingView