Why STEEM is Pumping: A Brief Overview
$STEEM recently topped the gainer list primarily due to speculative trading and high-volume mentions by major exchanges like Tokocrypto. As of February 24, 2026, the coin saw a significant price surge driven by "News-Driven Speculative Attention," attracting short-term traders looking for volatility. Built as a social blockchain, $STEEM powers platforms like Steemit where creators earn rewards for content through a Delegated Proof-of-Stake (DPoS) system. The project was originally founded by Ned Scott and Dan Larimer (the creator of BitShares), though it has undergone various community-led evolutions over the years. Currently, its price movement is highly dependent on market sentiment and "altcoin rotation" within the crypto ecosystem. While its future outlook shows potential for niche social-media utility, analysts warn of resistance levels near $0.065 and suggest caution due to its history of high volatility. For long-term growth, the project needs sustained fundamental upgrades rather than just social media-driven hype.