Steem Dollars (SBD) Hits Market Cap of $50.81 Million

Steem Dollars (CURRENCY:SBD) traded up 3.1% against the dollar during the 1-day period ending at 14:00 PM E.T. on January 14th. During the last week, Steem Dollars has traded 1.1% lower against the dollar. Steem Dollars has a total market cap of $50.81 million and $1.52 million worth of Steem Dollars was traded on exchanges in the last 24 hours. One Steem Dollars coin can now be purchased for $4.92 or 0.00011460 BTC on popular cryptocurrency exchanges.

Here’s how related cryptocurrencies have performed during the last 24 hours:

  • USDX [Kava] (USDX) traded up 0.5% against the dollar and now trades at $0.98 or 0.00002278 BTC.
  • USDx stablecoin (USDX) traded flat against the dollar and now trades at $1.00 or 0.00008734 BTC.
  • USDX [Lighthouse] (USDX) traded 0.1% lower against the dollar and now trades at $0.40 or 0.00000923 BTC.
  • Dollars (USDX) traded flat against the dollar and now trades at $0.17 or 0.00000432 BTC.
  • dForce USDx (USDX) traded flat against the dollar and now trades at $14,024,661.89 or 0.00001722 BTC.

About Steem Dollars

Steem Dollars is a distributed proof-of-stake (dPOS) coin that uses the SHA-256 hashing algorithm. Its genesis date was June 4th, 2016. Steem Dollars’ total supply is 10,318,642 coins. Steem Dollars’ official website is steem.io. Steem Dollars’ official Twitter account is @steemit and its Facebook page is accessible here. The Reddit community for Steem Dollars is /r/steemit and the currency’s Github account can be viewed here. The official message board for Steem Dollars is steemit.com/@steemitblog.

According to CryptoCompare, “Steem Backed Dollars or simply Steem Dollars are stable value pegged assets issued in the Steem.it platform. SBD are pegged to the value of the USD and can be redeemed on the Steem.it platform for about one dollar worth of Steem.  When Content creators receive rewards on the Steem.it platform they are made available in 50% Steem Power, which can be redeemed continuously over a period of 104 weeks, and 50% SBD which can be fully redeemed for Steem in a 5 day period. SBD can also be transfered on the Steem Platform and can be exchanged outside of the Platform.   “

Steem Dollars Coin Trading

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

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