Siacoin Market Capitalization Tops $216.30 Million (SC)

Siacoin (SC) traded 11.1% lower against the US dollar during the 24-hour period ending at 7:00 AM Eastern on July 5th. One Siacoin coin can currently be bought for $0.0038 or 0.00000007 BTC on major exchanges. Siacoin has a total market cap of $216.30 million and $6.46 million worth of Siacoin was traded on exchanges in the last day. During the last seven days, Siacoin has traded down 19.8% against the US dollar.

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

• Bitcoin (BTC) traded 4.9% lower against the dollar and now trades at $55,180.23 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 11.1% against the dollar and now trades at $0.0992 or 0.00000180 BTC.
• Bitcoin Cash (BCH) traded down 11.9% against the dollar and now trades at $307.31 or 0.00556923 BTC.
• UNUS SED LEO (LEO) traded down 0.4% against the dollar and now trades at $5.69 or 0.00010303 BTC.
• Litecoin (LTC) traded down 15.1% against the dollar and now trades at $59.27 or 0.00107420 BTC.
• Ethereum Classic (ETC) traded down 12.7% against the dollar and now trades at $19.03 or 0.00034484 BTC.
• Monero (XMR) traded 8.3% lower against the dollar and now trades at $147.29 or 0.00266929 BTC.
• Arweave (AR) traded 13.6% lower against the dollar and now trades at $21.46 or 0.00038885 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Bitcoin SV (BSV) traded 12.3% lower against the dollar and now trades at $34.01 or 0.00061634 BTC.

Siacoin Coin Profile

Siacoin is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. Its genesis date was June 1st, 2015. Siacoin’s total supply is 57,742,785,000 coins and its circulating supply is 57,582,729,232 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 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 GDAX. 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