Steem Price Hits $0.22 on Exchanges (STEEM)

Steem (STEEM) traded 2.8% lower against the US dollar during the 1-day period ending at 10:00 AM E.T. on January 21st. Steem has a total market cap of $105.39 million and approximately $57.66 million worth of Steem was traded on exchanges in the last day. One Steem coin can now be bought for about $0.22 or 0.00000212 BTC on major cryptocurrency exchanges. During the last seven days, Steem has traded 17.5% lower against the US dollar.

Here is how other cryptocurrencies have performed during the last day:

• Bitcoin (BTC) traded 3.9% lower against the dollar and now trades at $103,298.86 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 0.9% lower against the dollar and now trades at $0.37 or 0.00000359 BTC.
• Litecoin (LTC) traded 1.7% lower against the dollar and now trades at $118.97 or 0.00115170 BTC.
• UNUS SED LEO (LEO) traded 0.8% lower against the dollar and now trades at $9.62 or 0.00009308 BTC.
• Bitcoin Cash (BCH) traded 2.5% lower against the dollar and now trades at $436.90 or 0.00422948 BTC.
• Ethereum Classic (ETC) traded 0.2% lower against the dollar and now trades at $26.53 or 0.00025686 BTC.
• Monero (XMR) traded 1.8% higher against the dollar and now trades at $215.24 or 0.00208368 BTC.
• IOTA (MIOTA) traded 6.4% lower against the dollar and now trades at $0.32 or 0.00000314 BTC.
• Bitcoin SV (BSV) traded 2.2% lower against the dollar and now trades at $51.93 or 0.00050268 BTC.
• Arweave (AR) traded 5.3% lower against the dollar and now trades at $14.49 or 0.00014030 BTC.

About Steem

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 481,400,502 coins and its circulating supply is 481,398,845 coins. The Reddit community for Steem is https://reddit.com/r/steemit and the currency’s Github account can be viewed here. Steem’s official website is steem.com. Steem’s official Twitter account is @steemit and its Facebook page is accessible here. The official message board for Steem 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 acquire Steem should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Steem using one of the exchanges listed above.

STEEM/USD price chart by TradingView