Steem Dollars Achieves Market Cap of $36.30 Million (SBD)

Steem Dollars (SBD) traded 1.6% higher against the U.S. dollar during the 24 hour period ending at 14:00 PM Eastern on June 23rd. Over the last seven days, Steem Dollars has traded up 9.9% against the U.S. dollar. One Steem Dollars coin can now be purchased for about $3.18 or 0.00015645 BTC on major cryptocurrency exchanges. Steem Dollars has a market cap of $36.30 million and $16.99 million worth of Steem Dollars was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed over the last 24 hours:

  • USDX [Kava] (USDX) traded 1.2% higher against the dollar and now trades at $0.95 or 0.00004685 BTC.
  • USDx stablecoin (USDX) traded flat against the dollar and now trades at $1.00 or 0.00008734 BTC.
  • Dollars (USDX) traded flat against the dollar and now trades at $0.17 or 0.00000432 BTC.
  • USDX [Lighthouse] (USDX) traded up 1% against the dollar and now trades at $0.0131 or 0.00000065 BTC.
  • dForce USDx (USDX) traded flat against the dollar and now trades at $14,024,661.89 or 0.00001722 BTC.

Steem Dollars Profile

Steem Dollars 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 11,409,369 coins. Steem Dollars’ official Twitter account is @steemit and its Facebook page is accessible here. The official website for Steem Dollars is steem.io. 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.

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.   “

Steem Dollars Coin Trading

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

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