Steem Reaches Market Capitalization of $138.62 Million (STEEM)

Steem (STEEM) traded up 9.8% against the US dollar during the one day period ending at 16:00 PM ET on May 2nd. Steem has a market capitalization of $138.62 million and $89.60 million worth of Steem was traded on exchanges in the last 24 hours. One Steem coin can now be purchased for about $0.30 or 0.00000509 BTC on cryptocurrency exchanges. Over the last seven days, Steem has traded down 6.1% against the US dollar.

Here’s how other cryptocurrencies have performed over the last 24 hours:

• Bitcoin (BTC) traded 2.8% higher against the dollar and now trades at $59,122.55 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 3.3% higher against the dollar and now trades at $0.13 or 0.00000224 BTC.
• Bitcoin Cash (BCH) traded up 3.2% against the dollar and now trades at $429.36 or 0.00726218 BTC.
• Litecoin (LTC) traded 1.7% higher against the dollar and now trades at $80.35 or 0.00135911 BTC.
• UNUS SED LEO (LEO) traded 2.1% higher against the dollar and now trades at $5.94 or 0.00010051 BTC.
• Ethereum Classic (ETC) traded 2.7% higher against the dollar and now trades at $25.69 or 0.00043455 BTC.
• Arweave (AR) traded up 25.8% against the dollar and now trades at $35.47 or 0.00060002 BTC.
• Monero (XMR) traded up 0.1% against the dollar and now trades at $122.45 or 0.00207115 BTC.
• Bitcoin SV (BSV) traded up 2% against the dollar and now trades at $59.30 or 0.00100299 BTC.
• eCash (XEC) traded up 4.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.

Steem Profile

STEEM is a proof-of-work (PoW) coin that uses the PoS hashing algorithm. It was first traded on March 24th, 2016. Steem’s total supply is 461,040,766 coins. Steem’s official website is steem.com. The official message board for Steem is steemit.com/@steemitblog. Steem’s official Twitter account is @steemit and its Facebook page is accessible here. 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 (STEEM) is a blockchain-based social media platform that rewards content creators with STEEM tokens. Created by Ned Scott and Dan Larimer, it promotes decentralized content creation and curation, providing an alternative to traditional social media.”

Buying and Selling Steem

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

STEEM/USD price chart by TradingView