Siacoin (SC) Market Cap Reaches $378.39 Million

Siacoin (SC) traded down 5% against the U.S. dollar during the twenty-four hour period ending at 10:00 AM Eastern on December 16th. One Siacoin coin can now be purchased for $0.0066 or 0.00000006 BTC on exchanges. Siacoin has a market capitalization of $378.39 million and $35.06 million worth of Siacoin was traded on exchanges in the last 24 hours. Over the last seven days, Siacoin has traded 11% lower against the U.S. dollar.

Here’s how related cryptocurrencies have performed over the last 24 hours:

• Bitcoin (BTC) traded up 3.2% against the dollar and now trades at $105,789.03 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 0.6% against the dollar and now trades at $0.40 or 0.00000378 BTC.
• Bitcoin Cash (BCH) traded 1.3% lower against the dollar and now trades at $534.89 or 0.00505617 BTC.
• Litecoin (LTC) traded 1.9% lower against the dollar and now trades at $117.64 or 0.00111206 BTC.
• UNUS SED LEO (LEO) traded up 2.5% against the dollar and now trades at $9.58 or 0.00009057 BTC.
• Ethereum Classic (ETC) traded 0.5% lower against the dollar and now trades at $32.95 or 0.00031143 BTC.
• Monero (XMR) traded down 2.8% against the dollar and now trades at $211.31 or 0.00199749 BTC.
• Arweave (AR) traded 3.4% lower against the dollar and now trades at $21.68 or 0.00020494 BTC.
• IOTA (MIOTA) traded 4.7% lower against the dollar and now trades at $0.38 or 0.00000358 BTC.
• Bitcoin SV (BSV) traded down 1.5% against the dollar and now trades at $65.65 or 0.00062057 BTC.

Siacoin Coin Profile

SC 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. Siacoin’s official Twitter account is @sia__foundation and its Facebook page is accessible here. The official website for Siacoin is sia.tech. 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 presently possible to buy alternative cryptocurrencies such as Siacoin directly using U.S. dollars. Investors seeking to trade Siacoin should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Changelly or GDAX. 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