Steamit became Third on the digital currency market

While steem recently became the third-largest digital currency as measured by market capitalization, surpassing $400 million this month, some market experts are skeptical of steem and have expressed doubts about its economics.

The digital currency’s market capitalization surged in July, rising more than 2,000% from $17.9M to $411.9M between 04:14 UTC on 6th July and the same time on 20th July, Coin Market Cap figures reveal. The digital currency’s price climbed more than 1,800% during this period, increasing from $0.24 to $4.63.