Siacoin (SC) Reaches One Day Volume of $2.50 Million

Siacoin (SC) traded up 1.7% against the U.S. dollar during the twenty-four hour period ending at 7:00 AM E.T. on August 8th. Over the last seven days, Siacoin has traded up 0.5% against the U.S. dollar. One Siacoin coin can currently be bought for $0.0005 or 0.00000001 BTC on popular cryptocurrency exchanges. Siacoin has a total market cap of $28.45 million and approximately $2.50 million worth of Siacoin was traded on exchanges in the last day.

Here’s how related cryptocurrencies have performed over the last day:

• Arweave (AR) traded down 0.2% against the dollar and now trades at $1.80 or 0.00002767 BTC.
• Bitcoin (BTC) traded down 0.1% against the dollar and now trades at $64,925.13 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 1.2% higher against the dollar and now trades at $0.0704 or 0.00000108 BTC.
• UNUS SED LEO (LEO) traded down 0.7% against the dollar and now trades at $9.70 or 0.00014940 BTC.
• Zcash (ZEC) traded down 2.4% against the dollar and now trades at $498.05 or 0.00767118 BTC.
• Monero (XMR) traded up 1.9% against the dollar and now trades at $376.58 or 0.00580016 BTC.
• Bitcoin Cash (BCH) traded 0.1% higher against the dollar and now trades at $216.36 or 0.00333238 BTC.
• Litecoin (LTC) traded 0.4% lower against the dollar and now trades at $45.53 or 0.00070120 BTC.
• Ethereum Classic (ETC) traded 0% lower against the dollar and now trades at $6.51 or 0.00010020 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

Siacoin Coin Profile

Siacoin (SC) is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. Its launch date was June 5th, 2015. Siacoin’s total supply is 62,217,525,676 coins and its circulating supply is 56,025,636,522 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 @siafoundation and its Facebook page is accessible here. Siacoin’s official message board is sia.tech/blog. Siacoin’s official website is sia.tech.

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”

Buying and Selling Siacoin

It is usually not currently possible to purchase alternative cryptocurrencies such as Siacoin directly using U.S. dollars. Investors seeking to acquire Siacoin should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Siacoin using one of the exchanges listed above.

SC/USD price chart by TradingView