Blockchain Social Media Altcoin Steem is Back in Top 10 Cryptocurrencies
Steem bounced into the top ten rankings on CoinMarketCap again on tuesday, after losing some of its glory and having been wandering in the geographic region of crypto rankings for some months now.
https://goo.gl/CndGSL
Rise and fall
The Blockchain social media startup entered the market 2 years ago with the concept of sharing revenues with its users.
https://goo.gl/C5wFhc
The monetary incentive it was offering propelled it to higher heights, and in july 2016, Steem rose by more than 2,000 p.c to reach more than $400 mln in market cap within two weeks. At the same time, its worth conjointly grew from $0.24 to $4.63.
It was one amongst the highest contenders within the crypto space till it started declining late last year, and at last, was pushed back to the lower echelons.
In fact, at the appearance of Steem, it had lots of critics WHO branded it as a pump and dump and Ponzi scheme to reward early adopters. happening therefore drastically might have left those detractors smiling.
https://goo.gl/W8KsJZ
It really gave out lots of revenues to early adopters who had an honest range of followers and could share widespread content. it had been believed by many that it had been progressing to modification the face of social media and build the likes of Facebook and Twitter obsolete if they are doing not adjust.
https://goo.gl/5o8KRY
New match
In the early hours of weekday, it rose grandly by sixty six p.c to enter the highest ten ranks. Even later in the day once different altcoins were sinking, it stood still and was up by vi.12 percent.
https://goo.gl/jXgJVL
Currently, Steem has accumulated a market cap of quite $200 mln and a market value of $0.88.
Despite occupying the number ten spot, the Ethereum store utility token Golem is following it sharply and if it's to remain at the highest, it should up its game.
At the instant, the struggle for the highest places is as hot as ever with currencies like Augur, Dogecoin and MaidSafe troubled to make it there. however gazing the gap between Steem and every one these cryptocurrencies, something will happen anytime soon.
Has Steem come to the highest to remain forever? Staying afloat is extremely vital for them since it may prove their critics wrong. we have a tendency to area unit waiting to examine if it may conjure the magic it did within the summer of 2016.
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In fact, at the appearance of Steem,
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