Siacoin (SC) Market Cap Hits $264.78 Million

Siacoin (SC) traded down 5.7% against the U.S. dollar during the 24 hour period ending at 23:00 PM ET on October 1st. Siacoin has a market capitalization of $264.78 million and approximately $6.42 million worth of Siacoin was traded on exchanges in the last day. One Siacoin coin can currently be bought for approximately $0.0046 or 0.00000007 BTC on major exchanges. During the last seven days, Siacoin has traded down 8.5% against the U.S. dollar.

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

• Bitcoin (BTC) traded down 2.8% against the dollar and now trades at $61,767.44 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 7.3% against the dollar and now trades at $0.11 or 0.00000176 BTC.
• Bitcoin Cash (BCH) traded down 5.9% against the dollar and now trades at $323.75 or 0.00524139 BTC.
• UNUS SED LEO (LEO) traded down 0.4% against the dollar and now trades at $5.98 or 0.00009679 BTC.
• Litecoin (LTC) traded down 5.4% against the dollar and now trades at $64.19 or 0.00103930 BTC.
• Ethereum Classic (ETC) traded 5.6% lower against the dollar and now trades at $18.60 or 0.00030106 BTC.
• Monero (XMR) traded down 1.3% against the dollar and now trades at $149.05 or 0.00241309 BTC.
• Arweave (AR) traded 14.1% lower against the dollar and now trades at $19.87 or 0.00032164 BTC.
• Bitcoin SV (BSV) traded down 7.4% against the dollar and now trades at $45.67 or 0.00073933 BTC.
• NyanCoin (NYAN) traded down 2.2% 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 launch date was June 1st, 2015. Siacoin’s total supply is 57,769,785,000 coins and its circulating supply is 57,740,391,700 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 @sia__foundation and its Facebook page is accessible 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 U.S. dollars. Investors seeking to trade Siacoin should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX 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