Steem Price Down 12.3% This Week (STEEM)

Steem (STEEM) traded 2.4% higher against the US dollar during the 1-day period ending at 23:00 PM Eastern on October 27th. One Steem coin can currently be purchased for about $0.16 or 0.00000242 BTC on popular exchanges. Steem has a market cap of $77.95 million and approximately $11.19 million worth of Steem was traded on exchanges in the last day. Over the last seven days, Steem has traded down 12.3% against the US dollar.

Here is how similar cryptocurrencies have performed over the last day:

• Bitcoin (BTC) traded up 1.1% against the dollar and now trades at $67,712.81 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 5.5% against the dollar and now trades at $0.15 or 0.00000215 BTC.
• Bitcoin Cash (BCH) traded 0.2% higher against the dollar and now trades at $349.06 or 0.00515513 BTC.
• UNUS SED LEO (LEO) traded down 0.6% against the dollar and now trades at $6.05 or 0.00008940 BTC.
• Litecoin (LTC) traded 4.2% higher against the dollar and now trades at $71.20 or 0.00105153 BTC.
• Monero (XMR) traded 1.3% higher against the dollar and now trades at $163.39 or 0.00241307 BTC.
• Ethereum Classic (ETC) traded 1% higher against the dollar and now trades at $18.30 or 0.00027025 BTC.
• Arweave (AR) traded down 0.6% against the dollar and now trades at $15.88 or 0.00023449 BTC.
• Bitcoin SV (BSV) traded up 1% against the dollar and now trades at $45.81 or 0.00067657 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

Steem Coin Profile

Steem (STEEM) is a proof-of-work (PoW) coin that uses the PoS hashing algorithm. It launched on March 24th, 2016. Steem’s total supply is 474,846,422 coins. 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. Steem’s official website is steem.com. The official message board for Steem is steemit.com/@steemitblog.

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 possible to buy alternative cryptocurrencies such as Steem directly using US dollars. Investors seeking to trade Steem should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Gemini or Changelly. 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