Siacoin (SC) Reaches Market Cap of $430.74 Million

Siacoin (SC) traded 4.2% lower against the US dollar during the one day period ending at 9:00 AM Eastern on April 25th. One Siacoin coin can now be purchased for about $0.0076 or 0.00000012 BTC on exchanges. Siacoin has a total market capitalization of $430.74 million and approximately $31.05 million worth of Siacoin was traded on exchanges in the last day. In the last week, Siacoin has traded up 9.4% against the US dollar.

Here’s how related cryptocurrencies have performed in the last day:

• Bitcoin (BTC) traded 4.4% lower against the dollar and now trades at $63,206.33 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 6.9% against the dollar and now trades at $0.15 or 0.00000236 BTC.
• Bitcoin Cash (BCH) traded 5% lower against the dollar and now trades at $471.81 or 0.00746457 BTC.
• Litecoin (LTC) traded down 4.6% against the dollar and now trades at $82.76 or 0.00130931 BTC.
• UNUS SED LEO (LEO) traded up 0.3% against the dollar and now trades at $5.77 or 0.00009134 BTC.
• Ethereum Classic (ETC) traded 6% lower against the dollar and now trades at $26.11 or 0.00041302 BTC.
• Monero (XMR) traded 2% lower against the dollar and now trades at $118.91 or 0.00188131 BTC.
• Arweave (AR) traded down 2% against the dollar and now trades at $32.96 or 0.00052152 BTC.
• Bitcoin SV (BSV) traded down 7.5% against the dollar and now trades at $65.79 or 0.00104095 BTC.
• eCash (XEC) traded 7.5% lower against the dollar and now trades at $0.0001 or 0.00000000 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 57,042,105,000 coins and its circulating supply is 57,015,008,150 coins. 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. Siacoin’s official Twitter account is @sia__foundation and its Facebook page is accessible 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 currently possible to purchase alternative cryptocurrencies such as Siacoin directly using US dollars. Investors seeking to trade Siacoin should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Siacoin using one of the exchanges listed above.

SC/USD price chart by TradingView