Steem (STEEM): What It Is, Uses and Risks

Steem is a cryptocurrency launched in March 2016 that runs a blockchain-based social network. Its main front end is Steemit, a platform with a layout similar to content sites such as Reddit and Medium, but where members can earn cryptocurrency for posting and voting on content. The project's stated aim is to pass rewards to the community members who help build the network, rather than mostly to shareholders. According to the project description, the founders came from BitShares, and Dan Larimer was involved as well. The network uses Delegated Proof-of-Stake for consensus. Related services mentioned in the project description include D.tube, a video platform that shows earnings beside posts, alongside curated news, Q&A and job boards.

Public descriptions say STEEM is the main token used on Steemit for transactions, rewards and staking. Holders can also hold Steem Power, which one search result describes as Steem locked in a vesting fund for about three months. Steem Power is used to upvote content and earn curation rewards, and the project description says that users who hold more currency can cast votes with greater influence. Steem Dollars is a third asset that users can earn on Steemit. The project says it also aims to support apps, job boards and content monetisation for entrepreneurs, though the uses of the token itself are mainly tied to the Steem network and its social platform.

As of 2026-11-05, the market data shows a price of about 0.0485 US dollars and a market capitalisation of about 27.3 million dollars, ranking 697th by market value. Circulating supply is about 562.3 million STEEM, against a total of about 562.4 million, and no maximum supply is listed. Trading volume over 24 hours was about 2.7 million dollars. Over the previous seven days the price rose about 0.8 percent, while over one year it fell about 33 percent. The all-time high was about 8.19 dollars on 2018-01-02. The all-time low of about 0.034 dollars was recorded on 2026-08-18. These figures change constantly and say nothing about future prices.

STEEM is the native token of the Steem blockchain itself. The market data lists no separate host chain and no chains on which the token is issued, which fits its role as the base currency of its own network. The network uses Delegated Proof-of-Stake, a consensus design in which token holders vote for a limited set of block producers who validate transactions. This approach is generally used to speed up block production and reduce the energy needed compared with proof-of-work systems, though the trade-off is that influence concentrates among the elected producers and large holders. The Steem network launched on 2016-03-24, and its community-focused design is the main feature set out in its public descriptions.

The main risk is price. The token fell about a third over the year to the data date and was close to its all-time low at that point, so anyone looking at it should expect large swings. Influence is also a concern: because voting weight rises with the amount held, larger holders can shape which content is promoted more than smaller ones. The project description notes that the community has been accused of posting plagiarised content, which raises questions about the quality of the platform's rewards. The market is also small compared with the largest tokens, so trading can be thinner. To store STEEM, use a wallet that supports the Steem network, keep private keys offline where possible, check addresses carefully, and be wary of impersonators and phishing messages.