Steem Dollars Market Capitalization Achieves $70.02 Million (SBD)

Steem Dollars (CURRENCY:SBD) traded up 0.1% against the US dollar during the 24-hour period ending at 21:00 PM E.T. on September 16th. Steem Dollars has a total market capitalization of $70.02 million and approximately $7.19 million worth of Steem Dollars was traded on exchanges in the last day. One Steem Dollars coin can now be bought for $7.85 or 0.00016451 BTC on major cryptocurrency exchanges. Over the last week, Steem Dollars has traded 4% lower against the US dollar.

Here’s how similar cryptocurrencies have performed over the last day:

  • USDX [Kava] (USDX) traded up 0.3% against the dollar and now trades at $0.99 or 0.00002077 BTC.
  • USDX [Lighthouse] (USDX) traded 1.6% lower against the dollar and now trades at $4.10 or 0.00008577 BTC.
  • USDx stablecoin (USDX) traded 0.3% lower against the dollar and now trades at $1.00 or 0.00008734 BTC.
  • Dollars (USDX) traded 6.4% higher against the dollar and now trades at $0.17 or 0.00000432 BTC.
  • dForce USDx (USDX) traded down 0% against the dollar and now trades at $0.99 or 0.00002159 BTC.

About Steem Dollars

SBD is a distributed proof-of-stake (dPOS) coin that uses the SHA-256 hashing algorithm. It was first traded on June 4th, 2016. Steem Dollars’ total supply is 8,914,597 coins. The Reddit community for Steem Dollars is /r/steemit and the currency’s Github account can be viewed here. The official message board for Steem Dollars is steemit.com/@steemitblog. Steem Dollars’ official website is steem.io. Steem Dollars’ official Twitter account is @steemit and its Facebook page is accessible here.

According to CryptoCompare, “Steem Backed Dollars or simply Steem Dollars are stable value pegged assets issued in the Steem.it platform. SBD are pegged to the value of the USD and can be redeemed on the Steem.it platform for about one dollar worth of Steem.  When Content creators receive rewards on the Steem.it platform they are made available in 50% Steem Power, which can be redeemed continuously over a period of 104 weeks, and 50% SBD which can be fully redeemed for Steem in a 5 day period. SBD can also be transfered on the Steem Platform and can be exchanged outside of the Platform.   “

Buying and Selling Steem Dollars

It is usually not currently possible to buy alternative cryptocurrencies such as Steem Dollars directly using US dollars. Investors seeking to acquire Steem Dollars should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Steem Dollars using one of the exchanges listed above.

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