Steem is claimed to be a social blockchain that expands communities and makes their revenues via rewarding its users for sharing their content. Steem is a digital currency that powers the platform Steemit, a decentralized blockchain social media platform. Users of this cryptocurrency can create and curate content on Steemit just like any other social media platforms. Steem is referred to as the fundamental unit on the Steem blockchain, and all other units like Steem power and Steem dollars derive their value from the value of Steem only.
Current status of Steem
Steem is currently getting valued at USD 0.425826 (UTC time 05:09). It has occupied the 43rd position among the cryptocurrencies which are getting traded in various crypto exchanges. Its present market cap has a value worth of USD 132,099,229. At present, 310,218,962 STEEM are in circulation. Compared to its yesterday’s price, the value of STEEM has been increased by 6.95%, and it is currently following a bullish trend line.
Price analysis of STEEM on the basis of Steem charts
On the basis of the above chart, it is seen that the current price of STEEM is 0.424073 USD or 0.00010790 BTC (UTC time 05:15). Its present market cap is getting traded at 131,555,579 USD. Its current 24h volume has a value worth of 2,678,859 USD. The same chart shows that the price of Steem, one month earlier, was 0.290037 USD. Considering and contrasting these two price points, we can say that the value of Steem has been increased by 46.21% in this one month. The price range of Stellar in this one month has been on a bullish trend, and its earlier price point of 0.310179 USD has provided a very good support level.
Future price predictions of Steem
As per the predictions of CoinPredictor, Steem price is expected to elevate by +11.3% in the upcoming days, and this indicates that its value is assumed to be around $0.466013. As per Wall Investor, Steem is considered as a bad long term (1year) investment. After five years, it is expected that the value of Steem can be around $6.74. The technical analysts have said that Steem’s price will not drop strikingly so it will maintain stability to some extent. In 2021, the price of Steem is expected to be around $3.07.
Considering all the assumptions, it is better for investors to wait for some time. They can splurge on this crypto when its price hikes a little upward.
As the crypto market is highly volatile, Steem will also have fluctuations but, in the long term price predictions, it is seen that its price will be on the higher side. So, one must wait for the right time to invest in this and to have higher returns.