Siacoin (SC) Achieves Self Reported Market Capitalization of $26.28 Million

Siacoin (SC) traded 5.1% lower against the dollar during the 1 day period ending at 7:00 AM Eastern on August 12th. Over the last week, Siacoin has traded down 6.1% against the dollar. Siacoin has a market cap of $26.28 million and approximately $4.68 million worth of Siacoin was traded on exchanges in the last day. One Siacoin coin can now be bought for about $0.0005 or 0.00000001 BTC on major exchanges.

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

• Arweave (AR) traded 1.2% lower against the dollar and now trades at $1.79 or 0.00002793 BTC.
• Bitcoin (BTC) traded 0.3% lower against the dollar and now trades at $64,126.13 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 2% higher against the dollar and now trades at $0.0719 or 0.00000112 BTC.
• UNUS SED LEO (LEO) traded down 2.6% against the dollar and now trades at $9.15 or 0.00014252 BTC.
• Zcash (ZEC) traded up 0.1% against the dollar and now trades at $489.51 or 0.00762856 BTC.
• Monero (XMR) traded up 0.8% against the dollar and now trades at $398.57 or 0.00621141 BTC.
• Bitcoin Cash (BCH) traded up 0% against the dollar and now trades at $214.63 or 0.00334479 BTC.
• Litecoin (LTC) traded 0.1% lower against the dollar and now trades at $45.42 or 0.00070781 BTC.
• Ethereum Classic (ETC) traded up 0.9% against the dollar and now trades at $6.44 or 0.00010043 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

Siacoin Profile

Siacoin (CRYPTO:SC) is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. Its launch 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. The official website for Siacoin is sia.tech. Siacoin’s official Twitter account is @siafoundation and its Facebook page is accessible here. The official message board for Siacoin is sia.tech/blog.

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 U.S. dollars. Investors seeking to acquire Siacoin should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Siacoin using one of the aforementioned exchanges.

SC/USD price chart by TradingView