Steem Trading Down 18.5% Over Last Week (STEEM)

Steem (STEEM) traded 4.8% lower against the U.S. dollar during the 1 day period ending at 11:00 AM E.T. on March 10th. During the last week, Steem has traded 18.5% lower against the U.S. dollar. One Steem coin can now be purchased for approximately $0.13 or 0.00000156 BTC on major exchanges. Steem has a market capitalization of $62.88 million and approximately $22.87 million worth of Steem was traded on exchanges in the last day.

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

• Arweave (AR) traded down 12% against the dollar and now trades at $5.94 or 0.00007428 BTC.
• Bitcoin (BTC) traded down 3.7% against the dollar and now trades at $79,959.38 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 7.9% lower against the dollar and now trades at $0.17 or 0.00000208 BTC.
• UNUS SED LEO (LEO) traded 0% lower against the dollar and now trades at $9.85 or 0.00012317 BTC.
• Bitcoin Cash (BCH) traded 4.1% lower against the dollar and now trades at $354.21 or 0.00442987 BTC.
• Litecoin (LTC) traded down 7.3% against the dollar and now trades at $92.39 or 0.00115547 BTC.
• Monero (XMR) traded 7.7% lower against the dollar and now trades at $202.42 or 0.00253151 BTC.
• Ethereum Classic (ETC) traded 5.9% lower against the dollar and now trades at $17.79 or 0.00022246 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• IOTA (MIOTA) traded down 3.1% against the dollar and now trades at $0.18 or 0.00000223 BTC.

About Steem

Steem (CRYPTO: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 502,668,035 coins. The official website for Steem is steem.com. The Reddit community for Steem is https://reddit.com/r/steemit and the currency’s Github account can be viewed here. 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 currently possible to buy alternative cryptocurrencies such as Steem directly using US dollars. Investors seeking to trade Steem should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Steem using one of the aforementioned exchanges.

STEEM/USD price chart by TradingView