STEEM Price Prediction: What’s coming in 2022?
Is there any evidence of STEEM investors making huge profits? If you want to participate in the Steem ecosystem’s success, you can do so by following a few simple steps. The live Steem price today is $0.429037 USD with a 24-hour trading volume of $25,417,111 USD. Steem is down 0.59% in the last 24 hours.
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, greater 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. Now there are more than 300 Steem apps for users to earn from, including alternatives to Reddit, YouTube, and SoundCloud.
Is there a demand for decentralized social media apps? Before jumping into a STEEM price prediction, let’s first explore its price history.
What is Steem?
Steem is a versatile, publicly accessible distributed blockchain database. It is responsible for storing records of text content, transaction data. The Steem blockchain powers many real-time content apps like Steemit, and is run by community members all around the world.
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 get to 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 Steem blockchain.
Understanding how Steem operates
Producing a new block
To create blocks over the Steem blockchain, there is a consensus mechanism 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 goes out to show 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 lastly, 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%.
STEEM short term price prediction
The Steem cryptocurrency can genuinely be a profitable investment if new users buy STEEM after reasonable consideration. Like any other cryptocurrency, it is essential to follow some investment advice before making a decision.
With the following STEEM price prediction data, any prospective user can make a sound decision for themselves. It can turn out to be a good investment only if users take the proper steps and precautions beforehand. We have gathered data of all the prices of STEEM data and predictions below.
Price of STEEM in upcoming days 2021
The following statistics show that for the upcoming days, STEEM prices will fluctuate somewhere between $0.490 to $1.985. These are all technical analysis-based predictions.
STEEM Price forecast trendline for upcoming days
Below is a trendline of the technical analysis of the price of STEEM shortly, the following weeks and days. The STEEM price drop and price increase have been gathered in a graphs trendline. This goes out to show how the future price of steem can also be predicted.
STEEM price prediction data for next 2 weeks
The Steem cryptocurrency is prone to the volatility of the crypto market like all cryptocurrencies. The below data is the collective predicted data for STEEM for the next two weeks. It shows the minimum price to the maximum price that is to be expected.
STEEM price forecast long-term data
Below we have the trendline for the expected STEEM price highs and lows for the upcoming months in 2022. The trendline shows a rapid increase in 2018 and the otherwise stable price of the Steem coins in the following years.
STEEM price prediction trendlines
STEEM price predictions 2021-2025
STEEM Price Prediction 2021
By December 2021, the forecasted maximum price of STEEM is around $0.484, while the minimum price is $0.292. The average STEEM price prediction for December is $0.389.
STEEM Price Prediction 2022
The forecasted maximum price is $2.069, and the minimum price is $0.585. The average price of STEEM is $1.318 throughout 2022.
STEEM price prediction 2023
According to price prediction and technical analysis, the price of STEEM is expected to be at a minimum level of $0.397, while the maximum level is at $3.179 for the year 2023. The average trading price of STEEM will remain around $1.722 in 2023.
STEEM price prediction 2024
Technical analysis suggests that the price of STEEM will reach a minimum level of $0.0147 in 2024, while the maximum level will be at $4.425. The average price of STEEM will be $2.164 throughout 2024.
STEEM price prediction 2025
In 2025, the STEEM price is forecasted to reach a minimum level of $2.473, While the STEEM price is very likely to reach a maximum possible level of $6.027. The technical analysis shows that it will have an average price of $2.473 in 2025.
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 suitable to 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:
The data brought forward 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 likely as 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 key issue is a controversial hard fork to the Steemit blockchain on May 19, which effectively allowed for the confiscation of certain 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 grow more and more in value with each year. An investment in Steem coins now might prove to be fruitful in the coming years.
FAQs about STEEM
Is STEEM a worthy investment?
Yes, based on historical data and expert analysis, the value and price of Steem are bound to increase in the future.
What will the price of STEEM be next year?
By November 2022, the price of STEEM is expected to reach an average 0.752 USD. The predicted maximum price is $1.613, while the minimum price is $0.000001.
Is Steem going to crash?
No, based on the technical and expert analysis, it is expected to stay afloat.
Will the price of STEEM rise to 1 USD soon?
No, according to technical analysis, Steem still has a long way to go.
How do I get STEEM?
- Post content, such 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 that they relate to, then they will support and upvote as well. The upvotes will actually remunerate 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 enjoy doing, then use the DApp and post content that they value. Note that even a 1% vote from let’s say @musing will actually add a number to your reputation score.