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Price Analysis

Steem (STEEM) Price Analysis: Will Snax-Steem Integration Lead To An Upward Surge?

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  • Good news for the online content contributors as Steem integrates with Snax on May 14
  • Steem’s mantra of empowering the online community paves the way for ascending trend in 2019

The online community is growing at a faster pace, and Steem is on the right path tapping the potential of the content contributors to increase its adoption and usability. Founded in 2016, Steem has gained good traction in a very short span of time. Its features including an exclusive online blogging space, Steemit allow users to get rewarded with STEEM points for every unique contribution. Let’s have a look at how this blockchain based currency has been sailing so far and if the future has something good in store for the STEEM holders.

Current Statistics:

Steem Price Chart

  • In the top 100 cryptocurrencies list, Steem is ranked at the 60th position currently
  • The ROI of the coin stands at negative 51.78%
  • The circulating supply has been recorded as 319,604,976 STEEM currently as against the total supply of over 336,579,070 STEEM
  • As on May 9, 2019, at 03:44:00 UTC, the market cap of STEEM is seen at 100,566,935 USD
  • The price of the coin stands at 0.3 USD & 0.00005296 BTC
  • The 24 h volume at the same UTC is around 951,552 USD

Comparison:

If we look at the last one month report, a downward trend of over -40% has been recorded with the highest price peaking to 0.5 USD & 0.00010640 BTC on April 6, 2019, at 11:34:03 UTC. The market cap was 164,684,643 USD & 24 h volume was 6,842,486 USD. In the past 7 days, the value of the STEEM coin moved between 0.36 USD and 0.30 USD. In the next few days, the first resistance level of the coin will be around 0.32 USD. By the end of the month, the second resistance level of the coin should be reached, and it will be 0.33 USD.

STEEM Price Prediction until 2020:

STEEM has always been in the news for its unique business model through which it empowers the content contributors using rewards and incentives. Recently, the company tweeted about the release of Steem branded clothing line in collaboration with Neowear Inspirational Clothing under an initiative titled, Streempreneur. Additionally, its upcoming integration with Snax will provide Snax tokens apart from STEEM tokens to the content contributors. All this will lead to the price of STEEM coin increasing to almost 5 USD by the end of 2019 and reaching up to 50 USD in the next 2 years.

Conclusion:

This, by far, is the best time to invest in STEEM in bulk through exchanges offering easy trade of the coin.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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