Steem (STEEM) Price Tops $0.0435 on Exchanges

Steem (STEEM) traded up 0.6% against the US dollar during the twenty-four hour period ending at 8:00 AM E.T. on September 1st. In the last seven days, Steem has traded down 1.9% against the US dollar. One Steem coin can now be bought for approximately $0.0435 or 0.00000056 BTC on exchanges. Steem has a market capitalization of $22.72 million and $3.08 million worth of Steem was traded on exchanges in the last 24 hours.

Here is how related cryptocurrencies have performed in the last 24 hours:

• Arweave (AR) traded 4.3% higher against the dollar and now trades at $2.18 or 0.00002800 BTC.
• Bitcoin (BTC) traded down 0.6% against the dollar and now trades at $77,990.42 or 1.00000000 BTC.
• Zcash (ZEC) traded up 1.9% against the dollar and now trades at $857.57 or 0.01099581 BTC.
• Dogecoin (DOGE) traded 0.5% higher against the dollar and now trades at $0.0831 or 0.00000107 BTC.
• Monero (XMR) traded down 2.7% against the dollar and now trades at $525.08 or 0.00673262 BTC.
• UNUS SED LEO (LEO) traded down 1.9% against the dollar and now trades at $9.44 or 0.00012103 BTC.
• Bitcoin Cash (BCH) traded 0.8% higher against the dollar and now trades at $248.87 or 0.00319103 BTC.
• Litecoin (LTC) traded up 1.4% against the dollar and now trades at $49.07 or 0.00062915 BTC.
• Ethereum Classic (ETC) traded 0.8% higher against the dollar and now trades at $7.32 or 0.00009385 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 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 556,928,536 coins and its circulating supply is 522,267,379 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 website for Steem is steem.com. Steem’s official message board is steemit.com/@steemitblog.

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 presently possible to buy alternative cryptocurrencies such as Steem directly using U.S. dollars. Investors seeking to trade Steem should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, GDAX 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