Steem Price Down 14.7% This Week (STEEM)

Steem (STEEM) traded down 5.6% against the US dollar during the 1 day period ending at 9:00 AM Eastern on February 2nd. In the last seven days, Steem has traded 14.7% lower against the US dollar. Steem has a total market cap of $92.89 million and approximately $34.54 million worth of Steem was traded on exchanges in the last 24 hours. One Steem coin can now be purchased for approximately $0.19 or 0.00000194 BTC on major cryptocurrency exchanges.

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

• Bitcoin (BTC) traded down 2.5% against the dollar and now trades at $99,176.53 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 7.4% lower against the dollar and now trades at $0.30 or 0.00000301 BTC.
• UNUS SED LEO (LEO) traded down 0.3% against the dollar and now trades at $9.74 or 0.00009823 BTC.
• Litecoin (LTC) traded 4.4% lower against the dollar and now trades at $116.58 or 0.00117546 BTC.
• Bitcoin Cash (BCH) traded 5% lower against the dollar and now trades at $398.39 or 0.00401697 BTC.
• Monero (XMR) traded down 5% against the dollar and now trades at $226.66 or 0.00228545 BTC.
• Ethereum Classic (ETC) traded 5.8% lower against the dollar and now trades at $24.49 or 0.00024694 BTC.
• IOTA (MIOTA) traded 9.3% lower against the dollar and now trades at $0.27 or 0.00000272 BTC.
• Arweave (AR) traded 9.1% lower against the dollar and now trades at $13.82 or 0.00013936 BTC.
• Bitcoin SV (BSV) traded down 6.1% against the dollar and now trades at $45.56 or 0.00045935 BTC.

Steem Coin Profile

Steem (CRYPTO: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 482,357,804 coins and its circulating supply is 482,356,154 coins. 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. The Reddit community for Steem is https://reddit.com/r/steemit and the currency’s Github account can be viewed 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.”

Buying and Selling Steem

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

STEEM/USD price chart by TradingView