Deep Dive
Overview: Steemit’s December 2025 Community Curators program allocates 13M STEEM Power (~$972K at current prices) to incentivize content moderation. While this drives platform activity, curators converting rewards to liquid STEEM or stablecoins could increase sell pressure. Historical data shows such programs improve engagement but rarely trigger sustained price rallies.
What this means: Short-term volatility is likely as rewards hit the market, but long-term holder retention depends on whether new users lock STEEM as Steem Power (SP). Monitor SP delegation rates for demand signals.
2. Derivatives Exposure (Bullish)
Overview: STEEM’s April 2025 listing on BYDFi with 20x leverage opened new speculative channels. Perpetual contracts typically correlate with spot price spikes during high-volume periods, though liquidations can amplify downside.
What this means: Derivatives markets might attract short-term traders, but STEEM’s low liquidity ($10.2M 24h volume) risks sharp swings. Watch open interest for leverage buildup.
3. Macro Sentiment Drag (Bearish)
Overview: The crypto Fear & Greed Index sits at 17 (“Extreme Fear”) as of 17 November 2025, with Bitcoin dominance at 58.8%. Altcoins like STEEM often underperform in risk-off environments, compounded by STEEM’s 62.87% yearly drop.
What this means: Until BTC dominance breaks below 55% or STEEM-specific catalysts emerge, macro headwinds may suppress buying momentum.
Conclusion
STEEM’s trajectory hinges on balancing community-driven demand against a hostile macro climate. While perpetual listings and curation rewards offer speculative appeal, the token’s 90%+ drop from all-time highs underscores persistent liquidity and adoption challenges.
Watch SP delegation rates and BTC dominance—can Steem’s niche defy the altcoin winter?