Digital Currency Watch: Steem (STEEM) Heads to $0.2963385

Monitoring Steem (STEEM), we have noticed that the coin has touched the $0.2963385 level. Checking on the current circulating supply, the value is around 307712749. Tracking today’s volume, the number is 832157. The cryptocurrency has moved +4.03% since the previous day’s settlement, and the market cap is currently 91187134.

It is hard to deny the enormous buzz that cryptocurrencies have created over the past few months. There are definitely plenty of advocates who believe that the space will be the wave of the future. There are also many detractors that believe that cryptocurrencies are simply a bubble that is bound to burst. Because the whole space is still relatively new, investors may have to complete extensive research before getting into the ring. Unlike some traditional investment vehicles with plenty of historical data to track, cryptocurrencies may be a bit trickier to analyze.

The creation of public permissionless cryptocurrencies has caught the eye of the financial industry. With the ever expanding reach of the Internet and new technology, many financial giants will most likely be forced to react and adapt to the rapid changes. Many additional advances in blockchain technology, such as smart contracts, are making their way into the spotlight. Nobody knows for sure how the crypto space and blockchain technology will evolve over the next few years. Whether adding cryptos to the portfolio or not, investors may find it extremely beneficial to stay on top of all the developments in the near future.

As with any new innovation, the potential of blockchain technology may take some time to be realized. While the fate of cryptocurrencies is widely debated, blockchain technology looks like it will make its way forward without much hesitation. Predicting the areas in which blockchain technology will be used most successfully is hard to gauge at this point. More and more businesses are beginning to realize the potential power of blockchain technology. Investors will most likely be keeping a close watch on how the blockchain technology is adopted and used by existing as well as new companies.