Chill Guy is a viral meme illustration that took social media by storm before a crypto project used the meme to launch a Solana-based token. Learn more here.

What started as a simple illustration of a laid-back dog has become a global meme sensation, with the cartoon character known as Chill Guy dominating both social media trends and cryptocurrency markets. Created by artist Phillip Banks in October 2023, the easygoing canine character sparked a viral movement that has attracted major brands worldwide.

This article follows Chill Guy’s transformation from a social media sensation to a cryptocurrency asset. We'll examine its viral beginnings, community growth, market impact and what potential investors can expect from CHILLGUY in the future.

 is a viral meme illustration by artist Phillip Banks, depicting a laid-back dog in casual clothes whose easygoing attitude took social media by storm before a crypto project used the meme to launch Just a Chill Guy as a Solana-based token.

What Does Just a Chill Guy Aim to Achieve?

The CHILLGUY meme coin aims to spread a "Why worry?" philosophy into cryptocurrency markets by embracing the laid-back, stress-free attitude that made the original meme go viral. The project transforms this easygoing vibe into a community-driven token, where being low-key isn't just a catchphrase — it's a shared mindset among holders.

The CHILLGUY community brings this philosophy to life by sharing endless variations of the CHILLGUY meme across social platforms. Through market swings and viral trends, CHILLGUY keeps his iconic pose: hands in pockets, subtle smirk, perpetually relaxed.

Just a Chill Guy (CHILLGUY) operates as a Solana Program Library (SPL) token on the 

 blockchain, leveraging the network's ultrafast speeds and low costs to ensure smooth trading. The token was created using Pump.fun, a specialized platform that lets users launch Solana-based tokens without any fees, removing traditional barriers to token creation.

CHILLGUY is a community takeover (CTO), meaning it's completely owned and directed by its token holders with no central team in control. This decentralized structure ensures the project stays true to its community-driven nature, its holders collectively guiding its future while embodying the laid-back spirit of the original meme.

The CHILLGUY token launched with a maximum supply of 1 billion tokens, of which 999,965,435 are currently in circulation. This near-complete distribution of tokens to the market supports active trading and community participation.

What makes CHILLGUY's tokenomics particularly notable is its widespread distribution across more than 142,000 unique holders (as of Nov 27, 2024), achieved in just 12 days. This rapid expansion of its holder base demonstrates strong community adoption and aligns with the project's decentralized, community-driven principles.

CHILLGUY has exploded across social media, especially on TikTok, where the meme has amassed hundreds of millions of views. Its laid-back character resonates with users worldwide, inspiring countless creative adaptations.

Major brands worldwide have embraced CHILLGUY in their marketing campaigns. From Sprite Europe to NFL on CBS, the character has resonated across mainstream media, even catching the attention of global figures like El Salvador's president Nayib Bukele.

The “Chill Guy” meme’s influence spans multiple social media platforms, with a growing community of followers: 96.6K on X (

). On the other hand, the meme token itself also has a vast community, with 39.9K on X (

) and an active Telegram channel of over 15,000 members. These numbers reflect the meme's ability to engage audiences across different platforms.

The token's popularity in cryptocurrency markets matches its social media success, with CHILLGUY maintaining a substantial 24-hour trading volume of over $330.03M as of Nov 27, 2024. This high trading activity demonstrates the strong market interest in CHILLGUY beyond its meme status.

Looking to trade Just a Chill Guy tokens? Bybit now offers the CHILLGUY/USDT Spot trading pair and CHILLGUYUSDT Perpetual contract. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

While CHILLGUY has maintained strong trading volumes and continues gaining mainstream attention through its viral social media presence, investors should carefully weigh its strengths and risk factors before making investment decisions.

With its widespread brand adoption, sustained trading activity and explosive community growth of over 142,000 holders, CHILLGUY demonstrates significant market potential. However, meme coins are inherently volatile. Potential investors should 

 and invest no more than they can afford to lose.

CHILLGUY is the latest viral sensation to harness the power of the attention economy to convert social media momentum into crypto market success. While CHILLGUY has already demonstrated its ability to capture mass appeal, its position as a leading meme token will depend upon how effectively it maintains its cultural relevance and community engagement in this fast-moving market.

Intermediate

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Just a Chill Guy (CHILLGUY): Embracing the Art of Nonchalance

Zircuit (ZRC) combines optimistic and ZK rollups with AI-driven security, offering fast, low-cost Ethereum Layer 2 solutions. 

 network has flourished, mainly due to the ongoing network congestion, high fees and poor scalability of the latter. Many of these platforms use rollup technology, whereby batches of multiple transactions processed off-chain are bundled together and posted in bulk to the underlying Layer 1. Ethereum-linked rollups mainly come in two varieties 

 (ZK). While optimistic rollups boast lower computational overhead, the ZK variety of these networks features a higher degree of security.

Zircuit (ZRC) is a Layer 2 chain that adopts a hybrid approach, combining the elements of optimistic and 

. This lets the platform offer the performance benefits of optimistic technology along with the security of ZK validity proofs. To further enhance overall security, Zircuit uses a unique 

 (AI)–driven system of monitoring for malicious transactions.

 (ZRC) is a hybrid Layer 2 blockchain that combines the features of optimistic and ZK rollups, and uses AI-driven monitoring for potentially harmful transactions. 

 rollup development technology, a popular framework for building optimistic rollup networks. Additionally, it uses zero-knowledge proofs, which lets the platform offer the best of both worlds 

 the performance benefits of optimistic rollups and the security of ZK technology. Zircuit is 

The Zircuit project takes security very seriously, and has introduced a unique system of AI-based protection against malicious transactions at the sequencer node level. The use of ZK proofs and an AI-based protection system make Zircuit one of the most secure platforms in the competitive world of Ethereum Layer 2 chains.

Along with its excellent security benefits, Zircuit also boasts low costs, fast transactions, excellent scalability and 2-second block production intervals. All these features make it an ideal environment for 

 (DApps) in various niches, particularly 

 (DeFi). In fact, the leading protocols within the Zircuit ecosystem are all dedicated to the finance niche, with Zircuit Staking being the largest application by TVL.

With its heavy focus on DeFi, Zircuit aims to become a leading liquidity hub for various token types within the sector, including 

. These assets can be staked through the Zircuit staking program — supported by the platform's Liquidity Hub — to earn staking APRs, airdrop rewards and points based on the Zircuit Point program (covered further in our article).

The platform also operates a secure native bridging solution, 

, to help users transfer assets between its Layer 2 network and Ethereum Layer 1.

The company behind the project, Zircuit Ltd., was founded in 2021 in Canada by Dr. Martin Derka, Jan Gorzny and Angel Xu. Zircuit's testnet was launched in November 2023, but made headlines in April 2024 when the project reported that its 

 (TVL) had soared past $2 billion. While testnet TVLs are more a gauge of future potential for a blockchain than an indicator of its existing worth, the news attracted the attention of industry observers toward the platform. Following its highly publicized testnet success, Zircuit launched the first phase of its mainnet in August 2024. This was followed by the launch of the platform's native token, ZRC, in November 2024.

As a typical rollup, Zircuit uses an off-chain sequencer node to batch and organize Layer 2 transactions for subsequent posting to the underlying Ethereum Layer 1. The batches have ZK validity proofs attached to them to signal to Layer 1 validators that they’re free from fraudulent transactions. Zircuit's architecture also includes prover nodes, whose job is to produce these validity proofs.

However, unlike other rollups using ZK proofs (also known as validity proofs), Zircuit doesn't generate validity proofs for every block of transactions. Instead, some blocks have pre-generated template proofs, while others go through the process of having a dedicated validity proof created for them. After a few blocks featuring validity proofs, there are several more that utilize template proofs. The image below illustrates this approach.

The key reason Zircuit has adopted this form of proof design is that the process of generating ZK proofs is computationally intensive. By using template proofs for some of the blocks in a sequence, Zircuit can reduce the overall computational overhead. However, the project’s team has stated that the template proof model is temporary, and will be phased out in the future. At that stage, the platform will move to generating ZK proofs for each block.

Zircuit features a highly modular design whereby provers — responsible for generating validity proofs on the platform — can easily be plugged into or removed from the network. This modular approach is distinct from the standard ZK rollup design, in which provers are more tightly and less flexibly integrated into the overall architecture.

As noted earlier, Zircuit uses a dedicated sequencer to organize and batch transactions into blocks. The platform also applies AI-driven monitoring at the sequencer level (the Sequencer Level Security, or SLS) to spot and exclude fraudulent transactions before they’re finalized on Layer 2.

When transactions are first posted to Zircuit, they enter the 

 — a temporary area from which the sequencer picks and organizes individual transactions into blocks. The mempool is being monitored at all times, using AI algorithms to identify suspicious transactions. If a transaction in the mempool raises a flag, it's quarantined and assessed for validity before the sequencer can include it in a block. The image below shows how this process works.

One of the distinct features of Zircuit is its hybrid architecture, which combines the properties of optimistic and ZK rollups. At the base level, Zircuit is built using Optimism's Bedrock development framework, a technology popular for optimistic rollup networks. However, the use of ZK proofs — or, to be more precise, a combination of validity proofs and template proofs — ensures that Zircuit enjoys a security level that standard optimistic rollups normally can't match.

The use of AI-based SLS provides robust security to Zircuit, complementing the already highly secure ZK proof system. Very few Layer 2 networks in the industry currently feature anything similar, making the platform a true pioneer of AI use for sequencer-level operations.

Like any rollup based on Optimism Bedrock, Zircuit enjoys EVM compatibility. This allows for smooth interoperability with the underlying Ethereum Layer 1. EVM compatibility also makes it easy for developers familiar with Ethereum’s environment to develop Zircuit-based DApps, or to port existing Ethereum applications to the platform. Developers can take advantage of technologies commonly used for Ethereum (e.g., the Solidity programming language and the Hardhat development framework) to build Zircuit applications and smart contracts.

Zircuit Bridge is a native bridging solution designed to easily transfer tokens between Ethereum and Zircuit. It boasts high security, low transaction fees and fast transfers, and allows users to move a variety of cryptocurrencies between Ethereum and Zircuit, including ETH, 

) and LRTs like Super Symbiotic LRT (weETHs). As of late November 2024, the total number of cryptos supported by the bridge is close to 30.

Zircuit has launched a reward program called Zircuit Points. Users can earn these Points by staking supported assets, and by participating in the Build to Earn initiative (more on this below). Accumulated points will be converted to ZRC tokens in the future. Points also create the opportunity to qualify for token airdrops.

The primary way for most users to earn Zircuit points is via 

. The Zircuit Staking program lets you stake LSTs, LRTs, popular stablecoins, some wrapped tokens and Ether (ETH) to earn points. Using LSTs and LRTs, you can earn yields (along with native Zircuit staking APRs and Points) from the respective staking and restaking platforms that issue these assets.

Zircuit Points earned via staking have different multipliers, depending upon the asset. For example, Ether has a multiplier of 0.5, while LSTs, LRTs and stablecoins have a multiplier of 1. Multipliers for different LST and LRT assets may be subject to change in the future.

Build to Earn is another way to qualify for Zircuit Points. The program allows developers to contribute to the Zircuit ecosystem and earn Points in a number of ways, including:

Launched in November 2024, ZRC is the platform's native cryptocurrency. It's an 

 asset deployed on both Zircuit and Ethereum Layer 1. ZRC is mainly used for reward distributions, and participation in token airdrops for ecosystem DApps. Currently, transaction fees on the network are paid in Ether. It's possible that, in the future, ZRC might be used for some transaction fee payments.

ZRC is also used for rewards under the Gas Rebate program. As users conduct transactions on the platform, they 

. Zircuit’s Gas Rebate program provides rebates to offset some of the incurred fees. The amount of ZRC earned as a rebate is proportional to the amount spent on gas in ETH; the project's documentation states that for each ETH spent on gas, the user earns 125% in ZRC. All kinds of gas fee payments qualify for the rebate, including ordinary asset transfers and transactions involving interaction with Zircuit DApps.

ZRC is a supply-capped token, with a maximum and total supply of 10 billion. The token's supply allocation shares are as follows:

The ZRC token is available on Bybit's Spot market as a swap pair with USDT (

 to grab a share of the 5 million ZRC prize pool. New users who sign up for a Bybit account and complete identity verification can earn ZRC rewards by accumulating a deposit volume of at least 2,000 ZRC, or by depositing 100 USDT and trading 100 USDT worth of ZRC via their first trade with Bybit. 

Meanwhile, existing users can qualify for ZRC rewards by trading at least 500 USDT worth of ZRC on the Bybit Spot market, with the possibility of earning up to 10,000 ZRC based on trading volume. The 

 event will run through Dec 10, 2024, 8:59AM UTC.

Zircuit is among the pioneering Layer 2 platforms to adopt a hybrid design for a rollup network. Thanks to the platform's architecture, users can take advantage of low transaction costs, fast transfers and great scalability while enjoying the benefits of high security delivered by ZK proofs and AI-driven mempool monitoring. AI-based monitoring for fraudulent transactions is a particularly notable feature of the platform and is undoubtedly among the most advanced technologies employed in the blockchain industry.

User security combined with faster and cheaper transactions for the Ethereum network — all in one package — is now feasible, thanks to Zircuit's innovative technology and unique approach!

Advanced

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What Is Zircuit (ZRC): Where Performance Meets Cutting-Edge Security

Bybit is celebrating its sixth anniversary with the #Super6Bybit event, offering a $1.2 million prize pool and focusing on its bbSOL token.

Daily Top Performer — Virtuals Protocol (VIRTUAL)

On Wednesday, the S&P 500 fell 0.38% as tech stocks dropped and inflation data reinforced a hawkish Fed outlook. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 0.40%, with Bitcoin and Ether dropping by 1.86% and 1.79%, respectively in the past 24 hours.

Today's top performer is VIRTUAL, which surged 53.6% following the launch of the $MUSIC token by Agentstarter, featuring AI-driven music video capabilities and community-focused tokenomics.

Virtuals Protocol (VIRTUAL), founded in 2021, allows users to invest in and co-own AI-driven virtual assets like companions and influencers. Its model fosters community ownership, transforming AI agents into revenue-generating assets across platforms like Roblox and TikTok. The platform attracts contributors from AI and gaming to drive innovation in virtual economies. 

, using AI to create music videos and offering features like animated videos, voice mimicry, and karaoke tracks. The tokenomics allocate 60% for airdrops, 20% for liquidity, and 10% each for the development team and Virtuals Protocol.

Check Out the Latest Prices, Charts, and Data of 

Bybit is celebrating its sixth anniversary with the 

, offering a $1.2 million prize pool and focusing on its bbSOL token. Launched in September 2024, bbSOL is the first exchange-backed Liquid Staking Token on Solana, providing liquidity and staking rewards. The campaign, running from November 28, 2024, to January 6, 2025, invites participants to build, transform, and supercharge their bbSOL through tasks, leaderboards, and community milestones, increasing rewards. The event combines gaming mechanics, community engagement, and opportunities to win prizes while promoting innovation and growth in the crypto space.

Yesterday, there were no flows in BTC Spot ETFs, including GBTC and non-GBTC categories.

. Stake BNB on Lista's portal to get slisBNB, then deposit it into Astherus to earn airdrop points with multipliers (3X for Lista, 1.15X for Astherus). No lockup is required, and slisBNB is the most efficient option.

Beginner

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Bybit Celebrates 6th Anniversary with $1.2M Prize Pool and bbSOL Supercharging Campaign

Our weekly crypto derivatives analytics report delves into macro events, the current state of crypto and trading signals from spot trading volume, and futures, options and perpetual contracts.

ETH has outperformed, bolstered by SEC Chair Gary Gensler's announcement of his Jan 20, 2025 departure, and suggested by growing open interest in ETH perpetual. This positive momentum extends to several large-cap altcoins previously scrutinized by the SEC, as indicated by bullish funding rates for long positions.

Please check out the report’s highlights.

ETH Open Interest Grows While BTC’s Declines

ETH is outperforming BTC following the announcement of SEC Chair Gary Gensler’s departure, as evidenced in perpetual swap markets. BTC open interest has decreased from last week's highs, while ETH contracts have increased. Additionally, ETH trade volumes constitute a larger share of daily trading as compared to much of the past six months, despite an overall dip in trade volumes this week. The gradual decline in BTC open interest, without a surge in trading activity, indicates a strategic repositioning, rather than a wave of liquidations.

BTC Option Curve Inversion Deepens as Price Retreats

The pullback in the spot BTC price from the $100K target has led to a flat ATM volatility term structure, with short-tenor options dropping below 60%. 

This trend continues the correlation between term structure inversion and BTC spot price returns observed since the U.S. election on November 5, 2024

. The decline in front-end volatility aligns with lower realized volatility levels. While demand for short-tenor options has moderated, there hasn't been a notable change in open interest for calls or puts. Instead, their growth has stalled at the week's start.

Sentiment in ETH options markets seems moderately more bullish than in BTC's during the recent decline in momentum from the post-election rally. Call options lead in both trading volumes and open interest. 

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Nov 27, 2024): Signal on ETH Outperformance Against BTC Surfaces on Long-Term Contracts

web3

Altcoins

Explainers

Steem (STEEM) is a blockchain platform designed specifically for decentralized social media apps. Its most popular app is Steemit, a microblogging social network that rewards users for by posting and liking content.

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Blockchain-based social media is one of the most promising yet underutilized niches within the crypto industry. Faced with competition from Web 2.0 social giants like Facebook, X, Reddit and Instagram, SocialFi (Social Finance) and other 

 have maintained a low profile during the decade-plus social media revolution. Recent developments in the niche, however, have led to growing interest in the decentralized social media concept. Among the old-time leaders of this promising category is Steem, a blockchain platform built purposely for decentralized social applications.

 is a blockchain designed to host and power the growth of decentralized social media apps. 

Developers can build and launch Steem-based decentralized applications (

) that help users monetize their social content. Steem accounts can earn crypto rewards by producing content and even by upvoting (i.e., “liking”) it.

Steem offers near-instant transaction processing and features zero gas fees. The fee-free nature of the platform is designed to encourage greater involvement of social media users, both on the consumer and content developer sides. Steem was launched in 2016 and is the oldest among the leading decentralized social platforms.

The Steem blockchain is based on a variation of the proof of stake (

) transaction validation model, delegated proof of stake (

, whereby users who stake funds on the platform delegate block validation responsibility to a select number of 

. Staking rewards generated by the validation process are allocated to the Steem rewards pool, a key feature used in the blockchain’s functional mechanism.

The platform’s rewards pool is central to the idea of rewarding social media users for their activity. Only 10% of the staking rewards in the pool are given to block validators, called Witnesses on Steem. In contrast, on most other blockchains, validators receive all or at least a significant proportion of the rewards.

Nearly two-thirds of the staking rewards (65%) go to social media users who engage in on-platform activity. Half of this amount (32.5%) is allotted to Authors, users who produce and publish content on Steem-based DApps. The other 32.5% is set aside for Curators, who upvote content produced by Authors.

Another 15% of the reward pool’s funds go to the holders of the SP token, which we’ll cover in a later section. In essence, this token gives additional upvoting power to its holders.

Finally, the remaining 10% is reserved for the Steem Proposals System, which is used via the Steem DAO to facilitate governance voting for various platform improvements and changes.

Smart Media Tokens (SMTs) are custom tokens that developers and content producers will be able to issue on Steem to power their specific apps or communities. Steem’s primary native coin is STEEM; we’ll cover more on this cryptocurrency later on. While STEEM can be used to enable most transactions on the network, SMTs can act as application-specific or community-specific assets. This is similar to the manner in which Ether (ETH) and DApp-specific

 tokens coexist on the Ethereum blockchain. 

While ETH, akin to STEEM, powers overall network activity, individual ERC-20 tokens, much like SMT tokens, serve as the main currencies within respective DApps.

SMTs are still at the stage of conceptual proposal and have yet to be implemented on Steem.

Blockchain developers with a focus in the social media domain are major beneficiaries of Steem’s functional model. The platform gives them the ability to develop DApps with built-in revenue-sharing models. Since Authors and Curators earn crypto rewards from their activity, a share of the revenue generated goes to the DApp developer, based on a preprogrammed distribution model.

Steem also makes DApp development easy thanks to the supported popular programming languages, as Steem DApps can be programmed using JavaScript and Python, two of the most widely used languages in the world of software development.

For ordinary social media users who don’t boast extensive armies of followers, Steem is a true gem: in addition to producing your own content, you can earn crypto rewards simply by upvoting. On the vast majority of other social media platforms, monetization opportunities are primarily limited to influencers who boast thousands or even millions of followers.

Entrepreneurs can also leverage Steem to grow their social communities and monetize content. Steem’s monetization scheme, which offers rewards for followers and not merely for influencers or content producers, fosters more active user base participation within Steem communities. A more engaged user base spells better opportunities to grow your brand via social media community management.

Monetizing your content is a breeze on Steem. While many brands often have to run paid ads on other social media networks to promote their content, Steem pays you crypto rewards for quality content.

Steemit is Steem blockchain’s primary social media DApp. It’s a blogging-style platform that publishers can use to monetize their content as it gets upvoted and rises in the rankings. Being the first and most popular app on the platform, Steemit is often confused with the Steem blockchain itself.

At some point, Steemit grew to be the SocialFi world’s most popular app. However, over the past few years, its popularity has declined somewhat. The arrival of new decentralized social platforms, including the recent surge of platforms like 

, New Bitcoin City and Stars Arena, has turned SocialFi into a much more competitive space.

Despite coming off its past popularity highs, Steemit remains one of the most prominent blockchain-based social media DApps, enjoying exceptionally high usage rates in South Korea.

eSteem (formerly Steem Mobile) is another long-timer on the Steem network. Launched in 2016, eSteem is a mobile app that lets users post content in the form of blogs and messages, and monetize it via Steem’s typical upvoting mechanism. While Steemit’s focus is on the desktop environment, eSteem is adapted toward mobile-friendly content and interaction.

DTube is Steem’s primary video content platform. Users can post video content and upvote other users’ content to earn crypto rewards. DTube’s overall functionality and user interface are near replicas of YouTube, the video giant of the Web 2.0 social media world. However, since DTube is blockchain-based, it has significant underlying differences from its much larger rival.

For starters, censorship on DTube is dependent upon its users' votes, while YouTube has been accused of some heavy-handed ideological censorship. Moreover, DTube has no ads, since no corporate entity owns the platform. In contrast, YouTube’s owner, Google Inc., is ubiquitously known for its voracious ad dollars appetite.

Utopian.io is a Steem DApp that lets software developers earn crypto rewards by contributing to an open-source project. Developers can contribute to open-source projects listed on Utopian.io by improving code, fixing bugs, creating useful libraries and more. What Steemit is to bloggers and DTube is to video publishers, Utopian.io is to software development enthusiasts.

Steem Monsters is a trading card game with elements of an RPG (role-playing game). As of early November 2023, the game is in development. Many of the in-game assets in Steem Monsters are based on 

. So far, this is the only Steem DApp, either launched or in development, that uses the NFT concept.

The Steem blockchain is powered by three cryptocurrencies: STEEM, Steem Power (SP) and Steem Dollar (SBD).

As already noted, STEEM is the platform’s main cryptocurrency and can be traded on exchanges. Users earn STEEM via content publishing and upvoting.

Besides acting as the platform’s main content monetization coin, STEEM is also used for 

. In order to participate in the block validation process, users need to stake their funds in STEEM, and staking rewards are also generated in STEEM. However, the actual rewards paid out from the Steem rewards pool for participating in content creation and curation involve two other crypto tokens, Steem Power (SP) and Steem Dollar (SBD).

STEEM is currently the fourth-largest cryptocurrency by 

Steem Power (SP) is a crypto token that can be used to increase your voting power on the Steem platform. It cannot be traded directly on exchanges. However, you can swap SP for STEEM, and vice versa.

The votes of SP token holders carry greater weight than the votes of other users on the blockchain. The more SP tokens you hold, the higher your upvoting weight. For instance, when an SP token holder upvotes a post on Steemit, the content piece has a higher chance of climbing in the overall rankings, which translates to higher visibility on the platform. The post’s author also receives more STEEM rewards because of the valuable vote from an SP holder.

Steem Power holders also receive 15% of the annual STEEM block rewards, another incentive engineered to encourage users to purchase these tokens.

 pegged to the U.S. dollar at a 1:1 ratio. While the market value of the STEEM coin fluctuates, SBD’s supply mechanism ensures that the USD peg is tightly maintained. This is achieved via a combination of STEEM and SBD printing and burning when the peg starts to deviate from the 1:1 ratio. As such, SBD is a classic example of an algorithmically maintained stablecoin. SBD is designed for Steem users who prefer a high degree of stability for the crypto assets they maintain on the platform.

The STEEM reward system for creators and curators may seem a tad confusing, so we’ll break it down here. Although STEEM is used as a common unit to calculate rewards on the platform, the actual crypto rewards are disbursed to users in a combination of SP and SBD. Users can choose to receive their rewards in one of two ways, either 50% in SP/50% in SBD or 100% in SP. It should be noted that STEEM operates an internal swap market where all three cryptos — STEEM, SP and SBD — can be traded with each other. Thus, after receiving your SP and SBD rewards, you can transfer them into the asset of your choice.

As of Nov 10, 2023, STEEM is trading at $0.31, a 96.23% decline from its all-time high of $8.19 on Jan 3, 2018 and a 329.98% increase from its all-time low of $0.072 on Mar 11, 2017.

Long-term price forecasts for STEEM are largely bullish.DigitalCoinPrice 

 to trade at $1.12 by 2025 and $3.23 by 2030, whilePricePrediction 

 to reach $0.55 by 2025 and $3.80 by 2030.

STEEM’s outlook is mostly positive, though some factors may pose challenges to the coin's growth trajectory. Factors that are likely to work in favor of the token include the following:

1. Steem has a unique social blockchain model, whereby ordinary social media users (and not only influencers or brands with the financial muscle to run ads) can monetize activities. This should encourage a broader base of social media users to utilize the platform.

2. Steem’s proposed Smart Media Tokens (SMTs) can potentially add great flexibility and value for users and influencers in the Steem ecosystem. It’s great to earn rewards in STEEM tokens, but earning rewards in your own branded token is so much sweeter! The added flexibility and opportunities for brand development are poised to further boost interest in the platform.

At the same time, it should be noted that Steem operates in the exhaustively opportunistic social media industry. Competition from resourceful Web 2/0 giants such as Facebook, Instagram, YouTube, X and Reddit will always be a challenge that Steem has to confront.

The STEEM cryptocurrency can be purchased on Bybit via a 

 contract. If you don’t yet have an account with Bybit, you can seamlessly 

. A Bybit account lets you access crypto products and services, as well as Spot and Derivatives markets for hundreds of cryptocurrencies.

Steem’s blockchain-based network has unique features that let you earn crypto rewards through content publishing and upvoting. Such features are largely absent on other social media platforms. This reality has helped Steem survive the numerous crypto winters and market downturns since the platform was launched back in 2016.

The STEEM coin has been thoroughly time-tested and remains the fourth-largest cryptocurrency in the SocialFi niche. The proposed Smart Media Tokens have the potential to further solidify the platform’s standing within the niche. When social media users start looking for alternatives to the large Web 2.0 networks, Steem is — and very likely will remain — one of the first platforms they’ll consider. Without exaggeration, Steem is web3’s X, YouTube and Reddit, all in one.

Steem (STEEM): A New Era of Social Engagement

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards