Steem is a social media network powered by blockchain. Anybody can create, upvote and share contents on Steem. Its main platform is Steemit- a social network, built on the top of Steemit blockchain. Steem network has Steem coin, and it is the foundational currency of this network. It can be exchanged for other cryptocurrencies through several prominent exchanges.
Current status of Steem
Steem is currently getting traded at USD 0.437577 (UTC time 03:50). With a market cap of USD 134,925,363 and a circulating supply of 308,346,211 STEEM, it is the 51st largest cryptocurrency.
Price analysis of Steem
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The above chart shows that Steem is currently getting traded at 0.441482 USD (UTC time 03:53). Its present market cap is worth of 136,129,363 USD with a 24h volume of 2,104,065 USD. The same chart shows that approx. One month earlier, Steem had a value of 0.470685 USD. So, within this period, the value of Steem has deterred up by -6.20%.
Future price predictions of Steem
It is a very unstable cryptocurrency which makes it tough to predict its the future price. However, as the market volatility is likely to reduce by late 2019, it is expected that this crypto can attain stability to an extent. Many users have the opinion that Steem’s interfaces are complicated. The social network of this crypto is very much comparable to Medium and Reddit. It rewards users for content creating and thus, it is interesting to its community. This is the first project by Daniel Larimer, a blockchain pioneer who has also worked with EOS and BTS. After he left this project, the condition of this crypto was in turmoil but, gradually, the position of the project developed and is completely a self-sufficient product. This indicates that in the future, the price of this token can rise. Accordingly, we assume that Steem can be around $0.4-$0.6.
Conclusion
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Steem is not very potential crypto as of now and investing on this in a highly volatile market can be a futile idea.
