Steem 1-Day Volume Hits $16.50 Million (STEEM)

Steem (STEEM) traded up 2.4% against the dollar during the twenty-four hour period ending at 11:00 AM ET on March 6th. One Steem coin can now be bought for $0.14 or 0.00000159 BTC on major cryptocurrency exchanges. During the last week, Steem has traded down 6% against the dollar. Steem has a total market cap of $72.50 million and $16.50 million worth of Steem was traded on exchanges in the last 24 hours.

Here’s how related cryptocurrencies have performed during the last 24 hours:

• Bitcoin (BTC) traded 1.6% higher against the dollar and now trades at $90,861.85 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 3.4% against the dollar and now trades at $0.21 or 0.00000228 BTC.
• UNUS SED LEO (LEO) traded 0.1% higher against the dollar and now trades at $9.91 or 0.00010912 BTC.
• Litecoin (LTC) traded up 3.3% against the dollar and now trades at $105.41 or 0.00116090 BTC.
• Bitcoin Cash (BCH) traded 0.7% higher against the dollar and now trades at $392.05 or 0.00431772 BTC.
• Monero (XMR) traded 1% higher against the dollar and now trades at $226.70 or 0.00249674 BTC.
• Ethereum Classic (ETC) traded 1.6% higher against the dollar and now trades at $20.39 or 0.00022451 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• IOTA (MIOTA) traded 1.7% higher against the dollar and now trades at $0.22 or 0.00000241 BTC.
• Bitcoin SV (BSV) traded down 1.5% against the dollar and now trades at $36.49 or 0.00040185 BTC.

Steem Coin Profile

Steem is a proof-of-work (PoW) coin that uses the PoS hashing algorithm. Its genesis date was March 24th, 2016. Steem’s total supply is 501,593,988 coins. The official message board for Steem is steemit.com/@steemitblog. The official website for Steem is steem.com. 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.

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.”

Steem Coin Trading

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

STEEM/USD price chart by TradingView