Steem (STEEM) Price Tops $0.16

Steem (STEEM) traded down 7% against the dollar during the twenty-four hour period ending at 10:00 AM ET on February 18th. One Steem coin can now be purchased for approximately $0.16 or 0.00000173 BTC on cryptocurrency exchanges. Steem has a total market cap of $81.71 million and approximately $21.17 million worth of Steem was traded on exchanges in the last 24 hours. In the last seven days, Steem has traded 8.6% lower against the dollar.

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

• Bitcoin (BTC) traded down 0.3% against the dollar and now trades at $95,467.21 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 5.7% against the dollar and now trades at $0.25 or 0.00000258 BTC.
• Litecoin (LTC) traded up 1.9% against the dollar and now trades at $124.57 or 0.00130576 BTC.
• UNUS SED LEO (LEO) traded 0.4% lower against the dollar and now trades at $9.76 or 0.00010227 BTC.
• Bitcoin Cash (BCH) traded down 5.1% against the dollar and now trades at $312.37 or 0.00327435 BTC.
• Monero (XMR) traded down 2.6% against the dollar and now trades at $230.36 or 0.00241469 BTC.
• Ethereum Classic (ETC) traded down 6.1% against the dollar and now trades at $19.83 or 0.00020787 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• IOTA (MIOTA) traded 7.8% lower against the dollar and now trades at $0.21 or 0.00000223 BTC.
• Bitcoin SV (BSV) traded down 4.3% against the dollar and now trades at $38.02 or 0.00039853 BTC.

Steem Profile

Steem (CRYPTO:STEEM) is a proof-of-work (PoW) coin that uses the PoS hashing algorithm. It launched on March 24th, 2016. Steem’s total supply is 495,798,950 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. The official message board for Steem is steemit.com/@steemitblog. Steem’s official Twitter account is @steemit and its Facebook page is accessible 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 possible to purchase alternative cryptocurrencies such as Steem directly using US dollars. Investors seeking to acquire Steem should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Steem using one of the aforementioned exchanges.

STEEM/USD price chart by TradingView