Siacoin (SC) Achieves Market Capitalization of $417.40 Million

Siacoin (SC) traded down 3.1% against the U.S. dollar during the one day period ending at 20:00 PM Eastern on April 29th. During the last seven days, Siacoin has traded 8.8% lower against the U.S. dollar. One Siacoin coin can now be purchased for approximately $0.0073 or 0.00000011 BTC on major cryptocurrency exchanges. Siacoin has a total market capitalization of $417.40 million and $7.20 million worth of Siacoin was traded on exchanges in the last 24 hours.

Here is how other cryptocurrencies have performed during the last 24 hours:

• Bitcoin (BTC) traded 1.2% higher against the dollar and now trades at $63,972.61 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 2.1% against the dollar and now trades at $0.14 or 0.00000225 BTC.
• Bitcoin Cash (BCH) traded 1.9% lower against the dollar and now trades at $463.39 or 0.00724362 BTC.
• Litecoin (LTC) traded down 0.9% against the dollar and now trades at $83.77 or 0.00130948 BTC.
• UNUS SED LEO (LEO) traded up 1.8% against the dollar and now trades at $5.86 or 0.00009166 BTC.
• Ethereum Classic (ETC) traded 2.2% lower against the dollar and now trades at $27.63 or 0.00043186 BTC.
• Monero (XMR) traded 1.4% higher against the dollar and now trades at $129.44 or 0.00202343 BTC.
• Arweave (AR) traded 0.3% lower against the dollar and now trades at $36.02 or 0.00056308 BTC.
• Bitcoin SV (BSV) traded 1.1% lower against the dollar and now trades at $65.27 or 0.00102025 BTC.
• eCash (XEC) traded down 1.4% against the dollar and now trades at $0.0000 or 0.00000000 BTC.

Siacoin Profile

Siacoin 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 57,061,275,000 coins and its circulating supply is 57,034,473,314 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 Twitter account is @sia__foundation and its Facebook page is accessible here. Siacoin’s official website is sia.tech.

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 Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. 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