Siacoin Reaches Market Capitalization of $285.10 Million (SC)

Siacoin (SC) traded 4.8% higher against the dollar during the twenty-four hour period ending at 12:00 PM E.T. on October 14th. One Siacoin coin can now be purchased for $0.0049 or 0.00000007 BTC on popular exchanges. Siacoin has a market cap of $285.10 million and approximately $7.22 million worth of Siacoin was traded on exchanges in the last day. During the last seven days, Siacoin has traded 0.1% higher against the dollar.

Here is how other cryptocurrencies have performed during the last day:

• Bitcoin (BTC) traded 5.2% higher against the dollar and now trades at $65,866.92 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 4.2% against the dollar and now trades at $0.12 or 0.00000175 BTC.
• Bitcoin Cash (BCH) traded 11.5% higher against the dollar and now trades at $357.10 or 0.00542152 BTC.
• UNUS SED LEO (LEO) traded 0.7% higher against the dollar and now trades at $6.14 or 0.00009326 BTC.
• Litecoin (LTC) traded 2.9% higher against the dollar and now trades at $66.82 or 0.00101446 BTC.
• Ethereum Classic (ETC) traded 5.2% higher against the dollar and now trades at $19.42 or 0.00029486 BTC.
• Monero (XMR) traded 2.7% higher against the dollar and now trades at $155.09 or 0.00235466 BTC.
• Arweave (AR) traded 5% higher against the dollar and now trades at $19.72 or 0.00029940 BTC.
• Bitcoin SV (BSV) traded up 9.5% against the dollar and now trades at $48.99 or 0.00074379 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

Siacoin Profile

Siacoin is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. It launched on June 1st, 2015. Siacoin’s total supply is 57,769,785,000 coins and its circulating supply is 57,740,391,700 coins. The Reddit community for Siacoin is https://reddit.com/r/siacoin and the currency’s Github account can be viewed here. Siacoin’s official Twitter account is @sia__foundation and its Facebook page is accessible here. The official website for Siacoin is sia.tech.

According to CryptoCompare, “Siacoin (SC) is the native token of the Sia network, a decentralized storage platform facilitating global disk storage contributions to create a secure and private alternative to centralized cloud storage. Users can rent storage from hosts using Siacoin, with transactions managed by smart storage contracts on the Sia blockchain. These contracts ensure that hosts are paid only after securely storing a client’s file for a specified duration, incentivizing reliable storage. The concept for Sia and Siacoin was conceived by David Vorick and Luke Champine, founders of Skynet Labs, at an MIT hackathon in 2013. Skynet Labs, formerly Nebulous, continues to evolve the platform, aiming to build a decentralized internet through its application hosting and storage.”

Buying and Selling Siacoin

It is usually not currently possible to purchase alternative cryptocurrencies such as Siacoin directly using U.S. dollars. Investors seeking to acquire Siacoin should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Siacoin using one of the aforementioned exchanges.

SC/USD price chart by TradingView