Steem (STEEM) Hits Market Capitalization of $636.62 Million
Steem (CURRENCY:STEEM) traded 7.1% higher against the US dollar during the 24-hour period ending at 11:00 AM ET on February 19th. Steem has a market cap of $636.62 million and approximately $14.50 million worth of Steem was traded on exchanges in the last 24 hours. In the last seven days, Steem has traded 14.9% lower against the US dollar. One Steem coin can now be bought for $2.52 or 0.00028887 BTC on popular cryptocurrency exchanges including Bittrex, Poloniex, OpenLedger DEX and Upbit.
Here is how similar cryptocurrencies have performed in the last 24 hours:
- Bitcoin (BTC) traded 3.6% lower against the dollar and now trades at $8,802.12 or 1.00000000 BTC.
- Bitcoin Cash (BCH) traded down 4% against the dollar and now trades at $1,007.87 or 0.11559900 BTC.
- Counterparty (XCP) traded down 3.4% against the dollar and now trades at $15.83 or 0.00181609 BTC.
- Crown (CRW) traded down 8.8% against the dollar and now trades at $1.80 or 0.00020679 BTC.
- Unobtanium (UNO) traded 6.6% lower against the dollar and now trades at $147.11 or 0.01687330 BTC.
- Namecoin (NMC) traded 3.3% lower against the dollar and now trades at $1.87 or 0.00021446 BTC.
- ATBCoin (ATB) traded 11.8% lower against the dollar and now trades at $0.22 or 0.00002522 BTC.
- CHIPS (CHIPS) traded down 5.5% against the dollar and now trades at $0.38 or 0.00004353 BTC.
- Terracoin (TRC) traded 3.2% lower against the dollar and now trades at $0.17 or 0.00001990 BTC.
- UnbreakableCoin (UNB) traded 8.7% lower against the dollar and now trades at $0.96 or 0.00010958 BTC.
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 bought or sold on the following cryptocurrency exchanges: Bittrex, Poloniex, Upbit, HitBTC 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 Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Steem using one of the exchanges listed above.
Receive News & Ratings for Steem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steem and related companies with MarketBeat.com's FREE daily email newsletter.