Siacoin (SC) Hits Self Reported Market Capitalization of $40.96 Million

Siacoin (SC) traded 1.1% lower against the dollar during the 24-hour period ending at 8:00 AM ET on September 5th. One Siacoin coin can now be bought for approximately $0.0007 or 0.00000001 BTC on major cryptocurrency exchanges. During the last week, Siacoin has traded up 16.5% against the dollar. Siacoin has a total market cap of $40.96 million and $3.99 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 8.9% higher against the dollar and now trades at $2.87 or 0.00003597 BTC.
• Bitcoin (BTC) traded down 1.8% against the dollar and now trades at $79,657.14 or 1.00000000 BTC.
• Zcash (ZEC) traded up 0.5% against the dollar and now trades at $1,013.21 or 0.01271959 BTC.
• Dogecoin (DOGE) traded down 1.7% against the dollar and now trades at $0.0862 or 0.00000108 BTC.
• Monero (XMR) traded 0.8% lower against the dollar and now trades at $536.93 or 0.00674051 BTC.
• UNUS SED LEO (LEO) traded 0% lower against the dollar and now trades at $9.26 or 0.00011624 BTC.
• Bitcoin Cash (BCH) traded down 3.2% against the dollar and now trades at $251.04 or 0.00315148 BTC.
• Litecoin (LTC) traded 3.8% higher against the dollar and now trades at $53.34 or 0.00066964 BTC.
• Ethereum Classic (ETC) traded up 0.3% against the dollar and now trades at $7.67 or 0.00009625 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.

Siacoin Coin Profile

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. The Reddit community for Siacoin is https://reddit.com/r/siacoin and the currency’s Github account can be viewed here. Siacoin’s official message board is sia.tech/blog. Siacoin’s official website 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. Discord, YouTubeWhitepaper”

Buying and Selling Siacoin

It is usually not currently 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 Coinbase, GDAX or Changelly. 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