Steem flips the model and returns the value to the people who contribute the most. Users become platform stakeholders, maintaining control over their data and earning cryptocurrency rewards for each contribution they make.
Is there any evidence of STEEM investors making huge profits? If you want to participate in the Steem ecosystem’s success, you can follow a few simple steps.
Steemit users can cast votes to create a hierarchy of content. The higher the upvote count received on a content piece, the more Steem is earned by its publisher. Steemit’s meritocratic system also enables users that hold more currency to cast more meaningful, more excellent influence votes.
Can STEEM reach $1 again? It’s been a rocky price history for STEEM so far, but something looks better on the horizon. Users earn STEEM, the native cryptocurrency, depending on the number of upvotes their posts have. More than 300 Steem apps for users to earn from, including alternatives to Reddit, YouTube, and SoundCloud.
Today’s Steem price is $0.229374 with a 24-hour trading volume of $9,501,455. Steem is up 1.88% in the last 24 hours. The current CoinMarketCap ranking is #262, with a live market cap of $90,591,845. It has a circulating supply of 394,951,699 STEEM coins and the max. supply is not available.
Before jumping into the STEEM price prediction, let’s first explore its background and price history.
What is Steem?
Steem is a versatile, publicly accessible distributed blockchain database. It is responsible for storing records of text content and transaction data. The Steem blockchain powers many real-time content apps like Steemit and is run by community members worldwide.
Steem also keeps up with the reward calculations and payouts to the distributors. The Steem DApps are in place to allow content creators and other users to easily connect with the Steem Blockchain and access their data without restrictions.
Steemit is designed as a decentralized application (DApp) built upon the Steem blockchain, using the eponymous cryptocurrency STEEM to reward users for their content. By voting on posts and comments, users can decide the payout of those posts.
To reach a broader market and create a versatile currency, the Steem blockchain makes good use of its inbuilt incentivization mechanism. The blockchain aims to include people who have not previously jumped into the cryptocurrency world and are looking for a place to start.
Who developed Steem?
Steemit Inc. was founded in July 2016 by Ned Scott alongside his partner and blockchain developer Daniel Larimer. With his prior expertise in the blockchain business, Dan Larimer helped launch the social media platform we now know as Steemit. Steemist was the first application built upon the Steem blockchain.
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|STEEM||$ 0.238002||$ 94.11 M||5.64%||394.95 M||$ 56.62 M|
Understanding how Steem operates
Producing a new block
To create blocks over the Steem blockchain, a consensus mechanism is known as Delegated Proof of Stake (DPOS). This system uses witnesses instead of miners that help produce blocks. The witnesses essentially represent a group of people who own the block-creating accounts.
All the users who have Steem accounts can then vote and elect, on consensus, the witnesses. A single account holder has around 30 witnesses for future purposes. This shows the close-knit operations at the Steem blockchain as the community collectively elects about 20 witnesses alongside backup witnesses.
All these witnesses are responsible for looking after the network’s block producers and governance body, which must be done every 3 seconds. For every block that these witnesses create they Steem Power fairly pays and compensates them.
The reward system
Steem’s reward system is particularly systematic and unique to its competition. The rewards are distributed among Steem users responsible for producing or curating content, those who participate in content discussions, and the users who vote on the content.
Steem also further distributes the 75% yearly inflation as rewards amongst all the contributing users. The basis of distributing the rewards is mainly dependant on the voting patterns; however, a large majority of the rewards are distributed amongst the users who have engaged the popular mainstream content.
The new coins generated during the block creation are also shared amongst the users. This again goes out to show the close-knit community of the Steem blockchain in how they operate. The BTC(Bitcoin) is almost wholly allocated to miners once the new coins are created in block creation. From this percentage, witnesses get a 10% of the new STEEM coins while the content creators, producers, etc., get the other 90%.
Where to buy STEEM
Not all crypto exchange platforms and wallets are to be trusted. Choose such reliable cryptocurrency exchanges as Binance and secure wallets, such as Ledger Nano S and Trezor, to store your Steem coins safely. The steps are almost identical but also dependent on the chosen exchange.
- Create an account at an exchange that offers STEEM and is suitable for your purpose.
- Deposit funds into your account. Most crypto exchanges only accept cryptocurrency deposits. …
- Buy STEEM.
How to sign up for Steem
You need to provide the following data to sign up for a Steem account:
How do I get STEEM?
- Post content, such as an article (75% of a post’s earnings go to the author).
- Comment on a post.
- Earn upvotes for a post or comment.
- Upvote a post or comment (25% of earnings are shared amongst “curators” who upvote).
How do I improve my reputation on Steemit?
- Create upvote-able contents – If other users like it and it’s something they relate to, they will support and upvote it. The upvotes will reimburse you with tokens and a reputation score.
- Promote your post – Promote good content and you will also acquire more upvotes while promoting a bad quality post will get you flags ( a negative reputation).
- Lastly, utilize DApps – Since most DApps target a certain niche and it’s something that you will enjoy doing, @musing will actually add a number to your reputation score.
STEEM Technical Analysis
STEEM is below its 50-day and 100-day Moving Average. The coin shows signs of a bullish trend on its 1-day chart. We might see STEEM hit the $0.3 resistance zone in the next few days. If not, the coin might reach its support zone of $0.15. STEEM technical indicators point to the sell zone. Hence, investors need to trade carefully in the next few days.
STEEM Price Prediction by Authority Sites
According to Wallet Investor, STEEM can be a profitable investment. They expect the coin to be worth $0.261 in one year. Based on their analysis, a long-term increase is expected; however, the price for 2027 is $0.574. With a five-year investment, the revenue is expected to be around 151.75%.
Trading Beasts expects STEEM to be a profitable investment; they gave a three-year price prediction. According to their STEEM price predictions, STEEM will have a minimum and maximum price of $0.253 and $0.373 by the end of 2022. The coin is expected to have an average trading price of $0.299 by that time.
STEEM is expected to experience a 29.66% increase in January 2023. Trading Beasts expects the coin to decrease by 20% towards the end of the year. STEEM is expected to have a minimum and maximum price of $0.229 and $0.337. The average price of the coin is expected to be around $0.269.
By 2024, STEEM is expected to experience a 61.05% towards the end of the year. The average trading price the coin is expected to have is $0.367. The minimum and maximum prices of the coin are predicted to be $0.312 and $0.459.
STEEM is expected to continue its bullish streak in the first month of 2025. Trading Beasts forecasts that the coin will increase slightly by the end of the year. They expect the coin to have a minimum and maximum price of $0.314 and $0.462. The average trading price of the coin is expected to be $0.369.
DigitalCoin Price expects STEEM to increase in price year on year. They expect the coin to have an average trading price of $0.30. The maximum and minimum price value of the coin is $0.32 and $0.28. By 2027, the coin is expected to trade at an average forecast price of $0.30.
DigitalCoin Price also predicts that STEEM coin will have a minimum price of $1.01 and a maximum price of $1.09. They expect the coin to have an average trading price of $1.04.
STEEM Price Prediction By Cryptopolitan
STEEM Price Prediction 2022
STEEM will be seen as a good investment option, and with its vast community base, we expect STEEM to touch new heights. Its price fluctuations are difficult to predict, especially now that the market volatility is higher. For the year 2022, the price of STEEM will be almost $0.25. The maximum price the coin can get is $0.30. STEEM’s average price forecast at the end of 2022 can be around $0.26.
STEEM Price Prediction 2023
We expect STEEM reach levels like its previous all-time high in 2023. We predict that STEEM will have an average trading price of $0.39. If everything goes smoothly, its maximum price may be $0.44; Its minimum price may be $0.38. The market is expected to dump after a long bull run, which is typical in the crypto market.
STEEM Price Prediction 2024
With lots of collaborations and new development in STEEM’s ecosystem, we might see STEEM reach new heights. By 2024, STEEM might have a maximum price of $0.67. We also expect that STEEM might decrease if the market goes down. 2024 might end with an average price of $0.57 and a minimum price of $0.55.
STEEM Price Prediction 2025
STEEM value is expected to increase if the team behind it puts more effort into the STEEM ecosystem. Therefore, we are bullish on STEEM in 2025. We expect the cryptocurrency to trade at a maximum price of $0.97. Its average price by the end of 2025 is $0.83, and its minimum price is expected to be $0.80.
STEEM Price Prediction 2026
Due to our technical analysis and past price performance of STEEM, we expect the cryptocurrency will steady at a minimum price of $1.17. The maximum and average price of the coin by the end of 2026 is expected to be $1.39 and $1.20.
STEEM Price Prediction 2027
To make long-term predictions, fundamental analysis is vital. When it comes to industry benefits, STEEM’s ecosystem offers a few. However, STEEM offers a competitive storage option, and programmable payment as decentralized apps and stable coins grow. There is a high possibility that STEEM will have a minimum price of $1.74. The maximum and average price of the coin is expected to be $2.02 and $1.81.
STEEM Price Prediction 2028
In 2028, crypto consumers will be more concerned about crypto bans and new restrictions. STEEM may cross the $2.67 mark if the market sees a good bull run. However, the highest price the coin will be worth is $3.06.
STEEM Price Prediction 2029
If we see more blockchain adoption in crypto, STEEM may skyrocket to the $4.55 mark. The lowest price the coin is expected to have is $3.80. The average price the coin is expected to have is $3.94.
STEEM Price Prediction 2030
STEEM can reach a maximum price of $6.68 with substantial cooperation with financial institutions. We also expect the coin to have an average price of $5.83, with a minimum price of $5.64. These prices might vary as the crypto market sees another bullish trend on its way to 2030.
STEEM Price Prediction 2031
There are signs that the cryptocurrency space might enter a new dimension. We expect that the long-term STEEM price forecast for 2031 will soar. The year 2031 can end with a maximum price of $9.75 and a minimum price of $8.49. The average price of the coin is expected to be $8.73.
Steem Price Prediction by Industry Experts
The decentralization of social media is an ideology that is now picking momentum. If more people adopt this ideology, it’s undoubtedly going to grow the value of Steem.
#DeSocial#dApps will give users the ability to monetize their data as they see fit.#Lending protocols will allow owners of #NFTs to make #passiveincome from the utilities, licensing, and/or royalties they construct w/3rd parties for lending of that NFT, while having ownership.
— Henry Wyndham (@Bro4Brok) April 12, 2022
With mass adoption, Steem may turn out to be much more profitable when compared to its centralized competitors in the same industry.
STEEM is one of the best cryptocurrencies in the crypto market due to its innovations and the team behind it. Again, the coin has attracted many investors. Due to the enormous investments in this cryptocurrency and the team behind it, the coin is expected to succeed in the future. Even though the cryptocurrency has a bright future, we urge you do your own research before investing in this cryptocurrency.
The data for STEEM price prediction is pretty conclusive and can help any new prospective investor for future investments. Making a thorough decision based on sound advice and technical analysis is key to stepping into the world of cryptocurrency. The volatile market requires expert knowledge and attention.
Litigation is likely as the Steemit saga continues, with stakeholders’ Steem “stolen.” Issues in the Steemit community continue to escalate, with a class action or other significant legal action fast becoming the only possible outcome. The critical point is a controversial hard fork to the Steemit blockchain on May 19, which effectively allowed for the confiscation of specific users’ tokens. Read more about this issue.
STEEM is a stable and potentially strong cryptocurrency. It is expected to keep its place in the market and grow more in the future. The trendline clearly shows that it will increase more and more in value each year. An investment in Steem coins now might be fruitful in the coming years.
Blockchain content-based rewards will be a game-changer, and it’s only a matter of time before they will replace advertising. Advertising dilutes the value of content, and the mission of Steem is to reward creators for what it’s worth. The adoption of the Steem platform by more users will be a significant factor in the future success of Steem.
STEEM seems to be a good investment — if we are to look at the price predictions and algorithms. The coin has a bright future in the crypto market. We expect STEEM to go beyond $1 in the next ten years.
Nevertheless, with these forecasts by experts and price projections, it is wise if you don’t put all your life savings in cryptocurrencies either for a short or a long while. This is due to the uncertainties and volatility of the crypto market. Therefore, invest caution and do your research before putting money into any cryptocurrency.