Siacoin (SC) Reaches Market Capitalization of $243.14 Million

Siacoin (SC) traded 2.5% lower against the US dollar during the 24 hour period ending at 19:00 PM Eastern on November 3rd. One Siacoin coin can now be bought for about $0.0042 or 0.00000006 BTC on popular exchanges. Siacoin has a total market cap of $243.14 million and $7.00 million worth of Siacoin was traded on exchanges in the last 24 hours. During the last week, Siacoin has traded 11% lower against the US dollar.

Here is how other cryptocurrencies have performed during the last 24 hours:

• Bitcoin (BTC) traded 1.1% lower against the dollar and now trades at $68,511.32 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 5.9% lower against the dollar and now trades at $0.15 or 0.00000218 BTC.
• Bitcoin Cash (BCH) traded 4.3% lower against the dollar and now trades at $338.27 or 0.00493743 BTC.
• UNUS SED LEO (LEO) traded 0.1% lower against the dollar and now trades at $6.05 or 0.00008826 BTC.
• Litecoin (LTC) traded down 3.7% against the dollar and now trades at $66.66 or 0.00097298 BTC.
• Monero (XMR) traded up 1% against the dollar and now trades at $156.72 or 0.00228750 BTC.
• Ethereum Classic (ETC) traded down 2.1% against the dollar and now trades at $17.77 or 0.00025931 BTC.
• Bitcoin SV (BSV) traded down 4.4% against the dollar and now trades at $46.84 or 0.00068372 BTC.
• Arweave (AR) traded down 5.1% against the dollar and now trades at $13.75 or 0.00020074 BTC.
• NyanCoin (NYAN) traded 2.2% lower 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. Its launch date was June 1st, 2015. Siacoin’s total supply is 57,769,785,000 coins and its circulating supply is 57,740,391,700 coins. The official website for Siacoin is sia.tech. Siacoin’s official Twitter account is @sia__foundation and its Facebook page is accessible here. The Reddit community for Siacoin is https://reddit.com/r/siacoin and the currency’s Github account can be viewed here.

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 possible to buy alternative cryptocurrencies such as Siacoin directly using U.S. dollars. Investors seeking to acquire Siacoin should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Siacoin using one of the aforementioned exchanges.

SC/USD price chart by TradingView