Siacoin Hits Market Capitalization of $400.36 Million (SC)

Siacoin (SC) traded down 0.5% against the dollar during the one day period ending at 20:00 PM E.T. on May 8th. Siacoin has a market cap of $400.36 million and approximately $9.34 million worth of Siacoin was traded on exchanges in the last 24 hours. One Siacoin coin can currently be bought for approximately $0.0070 or 0.00000011 BTC on exchanges. In the last seven days, Siacoin has traded up 2.9% against the dollar.

Here’s how other cryptocurrencies have performed in the last 24 hours:

• Bitcoin (BTC) traded down 1.9% against the dollar and now trades at $61,162.91 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 4.6% against the dollar and now trades at $0.14 or 0.00000234 BTC.
• Bitcoin Cash (BCH) traded down 4.8% against the dollar and now trades at $448.17 or 0.00732647 BTC.
• Litecoin (LTC) traded 1% higher against the dollar and now trades at $81.64 or 0.00133456 BTC.
• UNUS SED LEO (LEO) traded 1.1% higher against the dollar and now trades at $5.93 or 0.00009689 BTC.
• Ethereum Classic (ETC) traded up 0.3% against the dollar and now trades at $27.16 or 0.00044398 BTC.
• Arweave (AR) traded down 1.2% against the dollar and now trades at $37.36 or 0.00061081 BTC.
• Monero (XMR) traded up 3.2% against the dollar and now trades at $131.73 or 0.00215345 BTC.
• Bitcoin SV (BSV) traded 1.7% lower against the dollar and now trades at $62.22 or 0.00101716 BTC.
• eCash (XEC) traded 2.1% lower against the dollar and now trades at $0.0000 or 0.00000000 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 57,231,735,000 coins and its circulating supply is 57,205,556,656 coins. Siacoin’s official website is sia.tech. 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.

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 purchase alternative cryptocurrencies such as Siacoin directly using US dollars. Investors seeking to acquire Siacoin should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Siacoin using one of the aforementioned exchanges.

SC/USD price chart by TradingView