Siacoin Self Reported Market Cap Hits $26.82 Million (SC)

Siacoin (SC) traded up 7.1% against the dollar during the one day period ending at 8:00 AM E.T. on August 20th. One Siacoin coin can currently be bought for about $0.0005 or 0.00000001 BTC on major cryptocurrency exchanges. Siacoin has a total market capitalization of $26.82 million and approximately $2.17 million worth of Siacoin was traded on exchanges in the last day. During the last seven days, Siacoin has traded 1.4% higher against the dollar.

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

• Arweave (AR) traded 8.4% higher against the dollar and now trades at $1.92 or 0.00002683 BTC.
• Bitcoin (BTC) traded up 11% against the dollar and now trades at $71,531.23 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 9.7% against the dollar and now trades at $0.0770 or 0.00000108 BTC.
• Zcash (ZEC) traded up 11.7% against the dollar and now trades at $565.88 or 0.00791100 BTC.
• UNUS SED LEO (LEO) traded up 1% against the dollar and now trades at $9.24 or 0.00012912 BTC.
• Monero (XMR) traded 1.3% higher against the dollar and now trades at $419.84 or 0.00586927 BTC.
• Bitcoin Cash (BCH) traded 5.7% higher against the dollar and now trades at $215.53 or 0.00301310 BTC.
• Litecoin (LTC) traded 5.5% higher against the dollar and now trades at $47.25 or 0.00066059 BTC.
• Ethereum Classic (ETC) traded 10.6% higher against the dollar and now trades at $6.74 or 0.00009429 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.

About Siacoin

Siacoin (SC) is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. It launched on 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. The official website for Siacoin is sia.tech. Siacoin’s official message board is sia.tech/blog.

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 possible to purchase alternative cryptocurrencies such as Siacoin directly using US dollars. Investors seeking to trade Siacoin should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. 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