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Price Analysis

Steem (STEEM) Predictions: Will The ‘Blockchain Meets Community’ Mantra Spin The Wheel For Steem?

Steem has got it right from the beginning. The idea of connecting users by paying them for publishing as well as absorbing content is not only brilliant but also revolutionary. It shifts the focus & power from publishing houses to the end user and makes them an important cog in sharing profits from the overall content distribution process. The blockchain based platform has several users registered with them and posting on it regularly. Through Steemit platform, the company is rewarding everyone who has something to share in the form of newly created or curated content. This strategy is, in fact, becoming popular within the community and garnering a popular vote. Since its inception in 2016, the team has followed a focused approach to move upward consistently and remain progressive with each development.

Current Statistics:

Steem Price Chart (01.04.2019 - 01.05.2019)The price curve is rather non-linear for Steem with days of the sudden surge and then abrupt fall. The ROI of Steem is noted at -45.46%. Currently, the circulating supply is 317,636,519 STEEM against the total supply of 334,610,613 STEEM. As on May 01, 2019 at 08:34:01 UTC, the market cap of the coin is 113,213,153 USD, the price is trading at 0.35 USD & 0.00006611 BTC and the 24h volume is 695,242 USD. According to the top 100 cryptocurrencies list by the CoinMarketCap, Steem is ranked at the 57th position tailing Siacoin with a marginal difference. The coin has the potential to climb up the ladder and make it to the top 50 list as per the market speculations.

Comparison:

As on April 01, 2019 at 05:34:00 UTC, the market cap was reported at 141,833,226 USD, the price was 0.45 USD & 0.00011192 BTC and the 24h volume was 4,936,553 USD. The downtrend of over -22% has been noticed in the past 30 days with the highest price of the coin peaking at 0.53 USD & lowest dipping to 0.33 USD. In the past 7 days, the highest price reached 0.38 USD & lowest to 0.33 USD.

Prediction:

The company promotes the mantra of ‘Blockchain meets Community’ and is seen posting aggressively about its new projects, tie-ups or even new idea to establish a connection with the community. The vox populi gives thumbs up to the crypto. The company is encouraging users to link their Instagram posts with Steem network and earn some Steem in the process. The company is striking the right note with its supporters by digging deep about their interest areas and making collaborations accordingly; for instance; it is seen supporting gaming developers and players quite often. With the increasing popularity and usability, we can expect the price of the coin to reach 1 USD by 2019 end and can rise as much as 10 USD in the next 2 years.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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