Siacoin (SC) Self Reported Market Cap Hits $51.23 Million

Siacoin (SC) traded down 0.2% against the dollar during the twenty-four hour period ending at 7:00 AM Eastern on May 20th. In the last seven days, Siacoin has traded down 8.5% against the dollar. One Siacoin coin can now be purchased for about $0.0009 or 0.00000001 BTC on major cryptocurrency exchanges. Siacoin has a total market cap of $51.23 million and approximately $4.09 million worth of Siacoin was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed in the last day:

• Arweave (AR) traded 3.1% higher against the dollar and now trades at $2.16 or 0.00002798 BTC.
• Bitcoin (BTC) traded 0.8% higher against the dollar and now trades at $77,365.31 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 0.2% against the dollar and now trades at $0.10 or 0.00000134 BTC.
• Zcash (ZEC) traded 4.5% higher against the dollar and now trades at $584.14 or 0.00755045 BTC.
• UNUS SED LEO (LEO) traded 0.4% lower against the dollar and now trades at $10.03 or 0.00012970 BTC.
• Monero (XMR) traded 2% higher against the dollar and now trades at $399.00 or 0.00515733 BTC.
• Bitcoin Cash (BCH) traded 1.8% lower against the dollar and now trades at $367.32 or 0.00474786 BTC.
• Litecoin (LTC) traded 0.4% lower against the dollar and now trades at $53.86 or 0.00069619 BTC.
• Ethereum Classic (ETC) traded 1.7% higher against the dollar and now trades at $9.00 or 0.00011627 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

About Siacoin

Siacoin (SC) is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. Its genesis date was June 5th, 2015. Siacoin’s total supply is 62,217,525,676 coins and its circulating supply is 56,025,636,522 coins. Siacoin’s official message board is sia.tech/blog. Siacoin’s official Twitter account is @siafoundation and its Facebook page is accessible here. Siacoin’s official website 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 US dollars. Investors seeking to acquire Siacoin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. 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