Siacoin Hits One Day Volume of $7.05 Million (SC)

Siacoin (SC) traded down 3.5% against the U.S. dollar during the 1 day period ending at 7:00 AM Eastern on February 1st. During the last seven days, Siacoin has traded down 13% against the U.S. dollar. One Siacoin coin can currently be bought for $0.0013 or 0.00000002 BTC on exchanges. Siacoin has a total market capitalization of $73.53 million and $7.05 million worth of Siacoin was traded on exchanges in the last day.

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

• Arweave (AR) traded 6.7% lower against the dollar and now trades at $2.58 or 0.00003294 BTC.
• Bitcoin (BTC) traded down 5.4% against the dollar and now trades at $78,300.72 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 5% against the dollar and now trades at $0.11 or 0.00000135 BTC.
• Bitcoin Cash (BCH) traded down 0.2% against the dollar and now trades at $533.50 or 0.00681348 BTC.
• UNUS SED LEO (LEO) traded down 5.1% against the dollar and now trades at $8.74 or 0.00011166 BTC.
• Monero (XMR) traded 11.9% lower against the dollar and now trades at $429.44 or 0.00548450 BTC.
• Zcash (ZEC) traded down 5.7% against the dollar and now trades at $298.64 or 0.00381406 BTC.
• Litecoin (LTC) traded down 5.9% against the dollar and now trades at $59.17 or 0.00075567 BTC.
• Ethereum Classic (ETC) traded 5.1% lower against the dollar and now trades at $9.73 or 0.00012424 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

Siacoin Profile

Siacoin (SC) is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. It launched on June 6th, 2015. Siacoin’s total supply is 62,217,525,676 coins and its circulating supply is 56,025,636,522 coins. The official message board for Siacoin is sia.tech/blog. The Reddit community for Siacoin is https://reddit.com/r/siacoin and the currency’s Github account can be viewed here. The official website for Siacoin is sia.tech. Siacoin’s official Twitter account is @siafoundation and its Facebook page is accessible here.

According to CryptoCompare, “Sia is an actively developed decentralized storage platform. Users all over the world contribute disk storage from their computers to form a decentralized network.Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via “smart” storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.The distrubuted nature of the Sia network enables many optimizations in latency, throughput, reliability, and security. The decentralized nature of the Sia network enables anyone with storage to get paid, lowering the barrier to entry and reducing the overall price of cloud storage.The Sia cryptocurrency is live! You can rent storage using siacoins and hosts providing storage to the network receive compensation in the form of siacoins. The storage platform itself is still in beta, and only uploads that are 500mb or less in size are supported by the wallet.”

Siacoin Coin Trading

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 GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Siacoin using one of the exchanges listed above.

SC/USD price chart by TradingView