Steem (STEEM) Trading Down 20.6% This Week

Steem (STEEM) traded 4.9% higher against the US dollar during the 24 hour period ending at 17:00 PM Eastern on August 6th. Steem has a total market cap of $71.46 million and approximately $19.74 million worth of Steem was traded on exchanges in the last 24 hours. One Steem coin can now be bought for approximately $0.15 or 0.00000269 BTC on cryptocurrency exchanges. In the last seven days, Steem has traded down 20.6% against the US dollar.

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

• Bitcoin (BTC) traded up 4% against the dollar and now trades at $56,694.29 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 2.7% against the dollar and now trades at $0.0970 or 0.00000171 BTC.
• Bitcoin Cash (BCH) traded 4% higher against the dollar and now trades at $318.23 or 0.00561308 BTC.
• UNUS SED LEO (LEO) traded up 0.5% against the dollar and now trades at $5.73 or 0.00010114 BTC.
• Litecoin (LTC) traded up 5.1% against the dollar and now trades at $58.71 or 0.00103560 BTC.
• Monero (XMR) traded 3% higher against the dollar and now trades at $150.27 or 0.00265062 BTC.
• Ethereum Classic (ETC) traded 3.6% higher against the dollar and now trades at $18.20 or 0.00032101 BTC.
• Arweave (AR) traded up 5.8% against the dollar and now trades at $20.76 or 0.00036611 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Bitcoin SV (BSV) traded 4.9% higher against the dollar and now trades at $37.49 or 0.00066126 BTC.

About Steem

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 468,318,944 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 Twitter account is @steemit and its Facebook page is accessible here. The official message board for Steem is steemit.com/@steemitblog. The official website for Steem is steem.com.

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 buy alternative cryptocurrencies such as Steem directly using U.S. dollars. Investors seeking to trade Steem should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Steem using one of the aforementioned exchanges.

STEEM/USD price chart by TradingView