According to coinmarketcap.com, Steem is traded on only two exchanges: Bittrex and Openledger. This seems strange to me, given that Steem is now the 3rd most valuable cryptocurrency by market cap. Litecoin, the 5th most valuable cryptocurrency by market cap, is traded on dozens of different exchanges. So too are most other popular cryptocurrencies. So why is Steem traded on only two?

I don't know the answer to this question, but I speculate it's due to Steem being so new that exchanges have not gotten around to adding it yet. I expect in time we will see Steem added to Poloniex, BTC38, Livecoin, Exmo, Bter and other exchanges, as they are all going to want a share of the trading fees. When this happens, Steem will be available to a wider number of potential investors (think how many people have accounts on Poloniex compared to Bittrex), and the value of Steem could be expected to increase.