Siacoin (SC) Self Reported Market Capitalization Achieves $53.50 Million

Siacoin (SC) traded 1.3% lower against the US dollar during the 24 hour period ending at 8:00 AM Eastern on May 8th. During the last week, Siacoin has traded up 4.1% against the US dollar. One Siacoin coin can now be bought for approximately $0.0010 or 0.00000001 BTC on cryptocurrency exchanges. Siacoin has a total market cap of $53.50 million and $5.01 million worth of Siacoin was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed during the last day:

• Arweave (AR) traded down 1.5% against the dollar and now trades at $2.47 or 0.00003080 BTC.
• Bitcoin (BTC) traded down 1.2% against the dollar and now trades at $80,158.16 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 3.5% against the dollar and now trades at $0.11 or 0.00000134 BTC.
• UNUS SED LEO (LEO) traded 0.3% higher against the dollar and now trades at $10.38 or 0.00012946 BTC.
• Zcash (ZEC) traded 0.2% lower against the dollar and now trades at $572.99 or 0.00714828 BTC.
• Bitcoin Cash (BCH) traded 1.8% lower against the dollar and now trades at $450.27 or 0.00561721 BTC.
• Monero (XMR) traded 4% lower against the dollar and now trades at $397.81 or 0.00496286 BTC.
• Litecoin (LTC) traded down 1.1% against the dollar and now trades at $56.49 or 0.00070469 BTC.
• Ethereum Classic (ETC) traded up 1.6% against the dollar and now trades at $9.42 or 0.00011752 BTC.
• NyanCoin (NYAN) traded 2.2% lower 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 was first traded on June 5th, 2015. Siacoin’s total supply is 62,217,525,676 coins and its circulating supply is 56,025,636,522 coins. The official website for Siacoin is sia.tech. Siacoin’s official Twitter account is @siafoundation and its Facebook page is accessible here. Siacoin’s official message board 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.

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. Discord, YouTubeWhitepaper”

Siacoin Coin Trading

It is usually not 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, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Siacoin using one of the exchanges listed above.

SC/USD price chart by TradingView