Let’s now cast our eyes over the steem price history. While past performance should never be taken as an indicator of future results, knowing what the coin has done in the past can help give us some very important context when it comes to making a steem price prediction.
Steem first came onto the open market in April 2016, trading at about $0.65 before a growing interest in the coin saw it rise to above $4 in July. The coin then fell to an all-time low of $0.06919 on 10 March 2017. At the end of that
year, though, the crypto market entered a bubble, with STEEM reaching an all-time high of $8.57 on 3 January 2018. The bubble burst and the market entered a so-called crypto winter, with the coin trading at below $0.50 for much of the next three years. The boom period of early 2021 saw the coin break past the dollar in April before the market took a downturn, with STEEM closing the year at $0.4258.So far, 2022 has been a poor year for crypto in general and, ultimately, STEEM has suffered along with the market. While there were initial peaks and troughs and a high of $0.6224 on 21 April in the wake of Binance (BNB) announcing support for a STEEM/USDT pairing, things went downhill in May. The depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency saw steem fall to $0.1802 on 12 May, while June’s news that the Celsius (CEL) crypto lending platform had cancelled withdrawals saw it drop to $0.1727 on 15 June.
Since then, there has been something of a recovery, with it reaching $0.3028 on 11 August before dropping back down again to trade at around $0.2265 on 5 October. At that time, there were 394,951,699 STEEM in circulation out of a total supply of 409,190,981, which gave it a market cap of around $89m, making it the 200th largest crypto by that metric.So far, 2022 has been a poor year for crypto in general and, ultimately, STEEM has suffered along with the market. While there were initial peaks and troughs and a high of $0.6224 on 21 April in the wake of Binance (BNB) announcing support for a STEEM/USDT pairing, things went downhill in May. The depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency saw steem fall to $0.1802 on 12 May, while June’s news that the Celsius (CEL) crypto lending platform had cancelled withdrawals saw it drop to $0.1727 on 15 June.
Since then, there has been something of a recovery, with it reaching $0.3028 on 11 August before dropping back down again to trade at around $0.2265 on 5 October. At that time, there were 394,951,699 STEEM in circulation out of a total supply of 409,190,981, which gave it a market cap of around $89m, making it the 200th largest crypto by that metric.