Steemit Crypto Academy Contest Season 8 Week 5 - "Let's Think About Steemit's Future"

Introduction

We are so delighted in welcoming y'all to this week's Steemit Engagement Challenge and we are already into week5. We still have up to week-06 to remain together in the Crypto Academy. So we hope you will share more of your knowledge about the crypto ecosystem with the audience, thereby educating one another.

"Let's Think About Steemit's Future"

Generally, the cryptocurrency market has grown exceedingly during the past few years and currently stands at a market capitalization of $1.2 trillion. So many altcoins including STEEM has gained alot of popularity during this tremendous growth. Why STEEM has gain popularity is because it's powered by blockchain-based social media platform and it has changed the way social media works

Steemit is based on the blockchain that allows it to be run in a decentralized manner unlike other social networks and it rewards it's users in the form of cryptocurrency. It was founded in 2014 by Dan Larimer and released in 2016 and since then the supply of STEEM has constantly increase

On 20th July 2016, Steem Coin increase massively from $0.27 to about $4.34 and had a market capitalization of $384.5 million which was 3rd to Bitcoin and Ethereum but it was unfortunate that it couldn't sustain the hike for too long as the price drastically went down to a low of $0.12 on November 2016 that same year. However, the coin drastically increase to an all time high of $7.28 in January 2018.

Unlike other cryptocurrencies, the price of Steem Coin have long dropped and things haven't looked well for Steem Coin since then and now it's trading at $0.2128 at the time of publishing this post. However, there is no doubt that STEEM have attracted a lot of investors because of its unique proposition and functioning and hopefully, the price of STEEM will one day regain it's stability in the crypto market

What is Expected in the Contest?

• What is Steemit And How Does It Work

• What Is STEEM Coin And How Does Steemit Make It's Money

• What Is The Current Price Of STEEM At Coinmarket. Explain Your Understanding Of what You know About This Current Price And The Situation Surrounding It.

• Is Steem Coin Good For investment? As A Crypto Analyst, What Can Be Done For STEEM Coin To Reach A Maximum Supply And Becomes Top 100 Crypto Currencies In The World.

• How Can We Do To Solidify STEEM Offering In Terms Of Technology And Operating System Inorder To Attract More Investor

Contest Guidelines

• Post your articles in the Steemit Crypto Academy community. The participation time is between Monday, March 27th, 2023, 00:00 UTC to Sunday, April 2th, 2023, 23:59 UTC.

• The article should be at a minimum of 500 words. You can write more. Your article must be free of any form of plagiarism.

• Your article title should be Steemit Crypto Academy Contest / S8W5 - "Let's Think About Steemit's Future". Add the tag #cryptoacademy-s8w5 and other relevant tags.

• Participants must be appropriately following #club5050 or #club75 or #club100.

• Participants must be verified and active users on the platform.

• The community moderators would be leaving quality assessments on your articles and probable upvotes.

• In addition, your article must get at least 10 upvotes and 5 valid comments to count as valid in the contest, so ensure you interact with other users' entries. Do not be involved in vote-buying.

Rewards

• SC01 would be checking on the entire 7 participating communities and upvoting outstanding content. Upvote is not guaranteed for all articles. Kindly take note.

• At the end of the week, we would nominate top 3 users that had performed well in the contest and they would be eligible for votes from SC01/SC02.

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Important Notice: The nomination of the top 3 users in our community is not based on good grades alone, it includes their general engagements (quality and quantity of their interactions with other users' articles) to measure the overall performance. Also note that generally, you can only make one post per day in the Steemit Engagement Challenge.

Conclusion

It's a pleasure continuing with you all in week 5 of the engagement challenge at the crypto academy. We believe that y'all will share to us on this contest topic and we will get to learn alot from one another as this is a vital topic because of the importance of STEEM coin to us. So we hope everyone will have good information to say about this topic.

Please always remember to stay original and give in-depth analysis to all the required contest questions so as to gain maximum scores.