Steem Price Tops $0.0648 on Exchanges (STEEM)

Steem (STEEM) traded 2.8% higher against the U.S. dollar during the twenty-four hour period ending at 8:00 AM E.T. on September 29th. One Steem coin can now be purchased for $0.0648 or 0.00000077 BTC on cryptocurrency exchanges. During the last seven days, Steem has traded 12.9% higher against the U.S. dollar. Steem has a total market capitalization of $33.85 million and approximately $3.73 million worth of Steem was traded on exchanges in the last 24 hours.

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

• Arweave (AR) traded 0.9% lower against the dollar and now trades at $4.34 or 0.00005152 BTC.
• Bitcoin (BTC) traded up 1.2% against the dollar and now trades at $84,328.88 or 1.00000000 BTC.
• Zcash (ZEC) traded 8.9% lower against the dollar and now trades at $1,446.64 or 0.01715469 BTC.
• Dogecoin (DOGE) traded up 1.8% against the dollar and now trades at $0.0958 or 0.00000114 BTC.
• Monero (XMR) traded 2.3% higher against the dollar and now trades at $544.17 or 0.00645300 BTC.
• UNUS SED LEO (LEO) traded down 0.8% against the dollar and now trades at $8.99 or 0.00010660 BTC.
• Bitcoin Cash (BCH) traded 0% higher against the dollar and now trades at $312.97 or 0.00371128 BTC.
• Litecoin (LTC) traded down 4.2% against the dollar and now trades at $69.07 or 0.00081910 BTC.
• Ethereum Classic (ETC) traded 0.7% higher against the dollar and now trades at $9.31 or 0.00011046 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.

Steem Coin 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 559,337,988 coins and its circulating supply is 522,267,379 coins. 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 Twitter account is @steemit and its Facebook page is accessible here. 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.”

Buying and Selling Steem

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

STEEM/USD price chart by TradingView