New, but growing
Since catapulting in value to over $400m, Steem has cooled to an approximate market-cap of $157m, but this still makes it one of the six largest cryptocurrencies on the space.
While there are certainly naysayers, the reality is that Steemit continues to see more people signing up and participating.
However, it’s not simply Steemit the social media site, but also the blockchain that has experienced tremendous growth. Scott said that entrepreneurs and developers have already created 50 different tools, such as Catch a Whale (which tracks where whales have recently voted) and SteemMarket (which lets users buy, sell and rent goods with Steem).
