Steem Dollars Market Cap Reaches $52.18 Million (SBD)

Steem Dollars (CURRENCY:SBD) traded down 6% against the US dollar during the 24-hour period ending at 11:00 AM E.T. on June 11th. Over the last week, Steem Dollars has traded 12.4% lower against the US dollar. One Steem Dollars coin can now be bought for $6.59 or 0.00017795 BTC on major cryptocurrency exchanges. Steem Dollars has a total market capitalization of $52.18 million and approximately $8,743.00 worth of Steem Dollars was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed over the last day:

  • USDX [Kava] (USDX) traded up 1.5% against the dollar and now trades at $1.01 or 0.00002728 BTC.
  • USDX [Lighthouse] (USDX) traded 4.6% lower against the dollar and now trades at $2.44 or 0.00006599 BTC.
  • USDx stablecoin (USDX) traded 0.3% lower against the dollar and now trades at $1.00 or 0.00008734 BTC.
  • Dollars (USDX) traded 3.7% lower against the dollar and now trades at $0.17 or 0.00000457 BTC.
  • dForce USDx (USDX) traded down 4.1% against the dollar and now trades at $0.96 or 0.00002599 BTC.

About Steem Dollars

SBD is a distributed proof-of-stake (dPOS) coin that uses the SHA-256 hashing algorithm. It was first traded on June 4th, 2016. Steem Dollars’ total supply is 7,917,733 coins. The official message board for Steem Dollars is steemit.com/@steemitblog. Steem Dollars’ official Twitter account is @steemit and its Facebook page is accessible here. Steem Dollars’ official website is steem.io. The Reddit community for Steem Dollars is /r/steemit and the currency’s Github account can be viewed here.

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.   “

Buying and Selling Steem Dollars

It is usually not currently possible to buy alternative cryptocurrencies such as Steem Dollars directly using US dollars. Investors seeking to acquire Steem Dollars should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. 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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