Steem Price Steadily Increasing Although Firms Gave it Low Ratings

The cryptocurrency Steem, has risen 50 percent. Weiss Ratings, a firm that has had a lot of influence on digital assets lately, rated Steem a B- grade. Steem is among five other cryptocurrencies that has received a rating higher than a C+ from Weiss. Steem is a social media platform that utilizes blockchain technology. Steem was founded by Dan Larimer and experienced a reticent 2017. Since the market was booming in 2017, Steem did increase in value like a majority of the other cryptocurrencies. However, the digital asset did slump near the end of last year. In December, Steem jumped from $1 to $7.31! South Korea is responsible for Steem’s success, as they are trading the coin heavily. During the slowdown of the market and the corrections, the price declined down to $2.89. As of this week, Steem leapt 50 percent in just one day and is now at $6.51. The token has a $1.6 billion market cap. More than 87 percent of the trading volume of Steem, is in South Korean trading exchange, UpBit. Weiss has rated an array of cryptocurrencies and Steem was even rated higher than Bitcoin’s rating of a C+.

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