Siacoin Self Reported Market Cap Reaches $54.17 Million (SC)

Siacoin (SC) traded 10.4% lower against the dollar during the 1-day period ending at 8:00 AM E.T. on October 7th. Over the last seven days, Siacoin has traded down 9.7% against the dollar. One Siacoin coin can now be purchased for $0.0010 or 0.00000001 BTC on popular exchanges. Siacoin has a market cap of $54.17 million and $4.46 million worth of Siacoin was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed over the last 24 hours:

• Arweave (AR) traded 7.4% lower against the dollar and now trades at $4.27 or 0.00005115 BTC.
• Bitcoin (BTC) traded 3.2% lower against the dollar and now trades at $83,501.31 or 1.00000000 BTC.
• Zcash (ZEC) traded 4.8% lower against the dollar and now trades at $1,305.24 or 0.01563133 BTC.
• Dogecoin (DOGE) traded 7% lower against the dollar and now trades at $0.0890 or 0.00000107 BTC.
• Monero (XMR) traded 1.7% lower against the dollar and now trades at $548.23 or 0.00656557 BTC.
• UNUS SED LEO (LEO) traded 0% lower against the dollar and now trades at $8.88 or 0.00010631 BTC.
• Bitcoin Cash (BCH) traded down 4.6% against the dollar and now trades at $302.71 or 0.00362520 BTC.
• Litecoin (LTC) traded down 5% against the dollar and now trades at $66.96 or 0.00080186 BTC.
• Ethereum Classic (ETC) traded 6.2% lower against the dollar and now trades at $8.38 or 0.00010033 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

About Siacoin

Siacoin (CRYPTO: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 official message board for Siacoin is sia.tech/blog. Siacoin’s official Twitter account is @siafoundation and its Facebook page is accessible here. The Reddit community for Siacoin is https://reddit.com/r/siacoin and the currency’s Github account can be viewed here. 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 possible to buy alternative cryptocurrencies such as Siacoin directly using US dollars. Investors seeking to acquire Siacoin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Siacoin using one of the exchanges listed above.

SC/USD price chart by TradingView