Siacoin (SC) Reaches Market Cap of $239.55 Million

Siacoin (SC) traded 6.3% lower against the dollar during the 24-hour period ending at 14:00 PM E.T. on July 4th. One Siacoin coin can now be bought for about $0.0042 or 0.00000007 BTC on major exchanges. During the last week, Siacoin has traded 11.6% lower against the dollar. Siacoin has a total market capitalization of $239.55 million and approximately $4.73 million worth of Siacoin was traded on exchanges in the last 24 hours.

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

• Bitcoin (BTC) traded down 3.7% against the dollar and now trades at $58,216.77 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 8.4% against the dollar and now trades at $0.11 or 0.00000186 BTC.
• Bitcoin Cash (BCH) traded down 7.9% against the dollar and now trades at $344.82 or 0.00591932 BTC.
• UNUS SED LEO (LEO) traded 0.3% lower against the dollar and now trades at $5.77 or 0.00009898 BTC.
• Litecoin (LTC) traded 8.1% lower against the dollar and now trades at $68.30 or 0.00117253 BTC.
• Ethereum Classic (ETC) traded 4.5% lower against the dollar and now trades at $21.53 or 0.00036954 BTC.
• Monero (XMR) traded down 5.7% against the dollar and now trades at $157.13 or 0.00269746 BTC.
• Arweave (AR) traded down 11% against the dollar and now trades at $23.56 or 0.00040451 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Bitcoin SV (BSV) traded down 10.7% against the dollar and now trades at $38.27 or 0.00065697 BTC.

Siacoin Coin 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 57,608,595,000 coins and its circulating supply is 57,580,015,450 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 U.S. dollars. Investors seeking to trade Siacoin should first purchase 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 purchase Siacoin using one of the aforementioned exchanges.

SC/USD price chart by TradingView