Steem, the digital currency for the new social media site Steemit, has shot up more than 1000 percent, making $ 150m, two weeks after it paid the steemers for the first time, according to coinmarketcap.com.
Steemit for those who do not know is basically a website that rewards or pays to users posting content that receives multiple "affirmations" from site participants and what value is given in steem currency.
The steem currency price was $ 1.75, equivalent to a market value of $ 151.8M which currently doubled to $ 3.15 this Tuesday
That's the value of the 81.6M steems in circulation. I remember that in July, when Steemit used steems for the first time to pay users for their post, it was worth about $ 13 million, according to Scott.
We already know Steemit as the fifth largest digital currency in terms of market value and compared to the 657 coins that are on coinmarketcap.com
I really liked the idea of being able to trade steem for bitcoins inside the platform or better still be able to use bitcoins to pay for services or goods or keep them as an investment.
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC - 1MesjE1VYLmDruL2qW5RvxMHC9fYZ6YVnb
ETH - 0x4e2417D2fD369dF496172C733F66e0296621cE57
LTC - LazU9NYq9dwrPfYH3k1qbHqM3x3iKpQ4zU