Steem Price Hits $0.17 (STEEM)

Steem (STEEM) traded down 5.8% against the U.S. dollar during the 1 day period ending at 10:00 AM ET on February 6th. One Steem coin can currently be bought for about $0.17 or 0.00000173 BTC on exchanges. Steem has a total market capitalization of $81.88 million and approximately $21.41 million worth of Steem was traded on exchanges in the last day. Over the last week, Steem has traded down 19.7% against the U.S. dollar.

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

• Bitcoin (BTC) traded 0.1% lower against the dollar and now trades at $98,280.78 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 3.3% against the dollar and now trades at $0.26 or 0.00000264 BTC.
• UNUS SED LEO (LEO) traded 0% higher against the dollar and now trades at $9.82 or 0.00009992 BTC.
• Litecoin (LTC) traded 1.6% lower against the dollar and now trades at $104.93 or 0.00106764 BTC.
• Bitcoin Cash (BCH) traded down 3.2% against the dollar and now trades at $326.28 or 0.00331991 BTC.
• Monero (XMR) traded up 0.6% against the dollar and now trades at $229.58 or 0.00233601 BTC.
• Ethereum Classic (ETC) traded down 3.6% against the dollar and now trades at $20.52 or 0.00020883 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• IOTA (MIOTA) traded down 6.3% against the dollar and now trades at $0.22 or 0.00000224 BTC.
• Bitcoin SV (BSV) traded down 5% against the dollar and now trades at $39.65 or 0.00040342 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 482,675,325 coins. Steem’s official Twitter account is @steemit and its Facebook page is accessible here. Steem’s official website 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.

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 presently possible to purchase alternative cryptocurrencies such as Steem directly using U.S. dollars. Investors seeking to acquire Steem should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Steem using one of the exchanges listed above.

STEEM/USD price chart by TradingView