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Steem Dollars

SBD

Price
$2.16
12/5/2022, 1:12:17 AM
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Market

Market stats

Market cap

$25.5M

Volume (24h)

$577,580.82

Circulating supply

11.8M SBD

All time high

$22.34

Price change (1h)

+0.14%

Price change (24h)

+0.14%

Price change (7d)

+2.46%

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Steem Dollars is on the rise this week.

The price of Steem Dollars has risen by 2.46% in the past 7 days. The price increased by 0.14% in the last 24 hours. In just the past hour, the price grew by 0.14%. The current price is $2.16 per SBD. Steem Dollars is 90.34% below the all time high of $22.34.

The current circulating supply is 11,797,982.968 SBD.

About

What Is Steem Dollars (SBD)?

Steem Dollars (SBD) are liquid stable-value cyprtocurrency tokens pegged to USD A currency peg is a method in which a national government fixes the exchange rate of its currency with a foreign currency. SBDs are part of the parent Steem blockchain. Steem is a social blockchain that builds community while also providing users with direct revenue sources. The users are rewarded with STEEM tokens for sharing content on Steemit. Steem Dollars can be exchanged into STEEM and transferred to other accounts for use in commerce or exchange. 

According to its whitepaper, social media network shareholders gathered huge profits from user-generated content. The content creators don't make any income. Steem reverses the model, giving the highest value to those who contribute the most. Users become platform stakeholders, keeping control of their data, and earning rewards for each creation. However, these rewards are inconsistent if the token price is volatile. It is noteworthy that successful global economies have a high level of stability and individuals worldwide are unable to engage in commerce and savings if there is no stability. Steem Dollars were created to bring stability to the world of cryptocurrencies and to the individuals who utilize the Steem network.

Steem Dollars aims to shield traders from price volatility and manipulation. The Steem protocol safeguards the community from manipulation by enabling people to only convert from SBD to STEEM and not the other way around. The blockchain determines how and when SBD is created and who receives it, stabilizing the pace of SBD formation and eliminating most of the potential for misuse.

To earn SBD, users need to mine them. Contributing to the platform is considered as the Proof-of-Work for mining. On Steemit, users earn income by publishing blogs, commenting, and upvoting. The concept is that those who publish helpful blogs would receive more up-votes. Users will not vote up stuff that is not helpful. When bloggers gain upvotes, they are rewarded with SBD. 

History of Steem Dollars (SBD)

The first block of Steem blockchain was launched on March 24, 2016, following which the whitepaper was released in August of 2017.

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FAQ

What is the current price of Steem Dollars?

The price of 1 Steem Dollars currently costs $2.16.

What is the market cap of Steem Dollars?

The current market cap of Steem Dollars is $25.48M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Steem Dollars?

The all-time high of Steem Dollars is $22.34. This all-time high is highest price paid for Steem Dollars since it was launched.

What is the 24 hour trading volume of Steem Dollars?

Over the last 24 hours, the trading volume of Steem Dollars is $577.58K.

What other assets are similar to Steem Dollars?

Assets that have a similar market cap to Steem Dollars include Moss Coin, Carry, TROY, and many others. To see a full list, see our comparable market cap assets.

How many Steem Dollars are there?

The current circulating supply of Steem Dollars is 12 million.