Siacoin Self Reported Market Cap Hits $40.64 Million (SC)

Siacoin (SC) traded 5.4% lower against the US dollar during the twenty-four hour period ending at 7:00 AM Eastern on June 5th. One Siacoin coin can now be purchased for about $0.0007 or 0.00000001 BTC on popular exchanges. Siacoin has a market capitalization of $40.64 million and $5.15 million worth of Siacoin was traded on exchanges in the last day. During the last seven days, Siacoin has traded down 18.1% against the US dollar.

Here is how related cryptocurrencies have performed during the last day:

• Arweave (AR) traded down 10% against the dollar and now trades at $2.04 or 0.00003276 BTC.
• Bitcoin (BTC) traded 0.3% lower against the dollar and now trades at $62,313.37 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 3.6% against the dollar and now trades at $0.0845 or 0.00000136 BTC.
• UNUS SED LEO (LEO) traded 0.2% lower against the dollar and now trades at $9.92 or 0.00015915 BTC.
• Monero (XMR) traded down 2.1% against the dollar and now trades at $336.61 or 0.00540185 BTC.
• Zcash (ZEC) traded 40.9% lower against the dollar and now trades at $314.42 or 0.00504572 BTC.
• Bitcoin Cash (BCH) traded down 7.9% against the dollar and now trades at $224.43 or 0.00360157 BTC.
• Litecoin (LTC) traded 2.3% lower against the dollar and now trades at $44.26 or 0.00071035 BTC.
• Ethereum Classic (ETC) traded down 4.1% against the dollar and now trades at $6.97 or 0.00011189 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.

About Siacoin

Siacoin (CRYPTO: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. Siacoin’s official website is sia.tech. 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. 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”

Siacoin Coin Trading

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 Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Siacoin using one of the exchanges listed above.

SC/USD price chart by TradingView