Siacoin Reaches Market Capitalization of $325.84 Million (SC)

Siacoin (SC) traded up 3.2% against the U.S. dollar during the 24-hour period ending at 10:00 AM E.T. on November 18th. Siacoin has a market capitalization of $325.84 million and $41.38 million worth of Siacoin was traded on exchanges in the last day. During the last week, Siacoin has traded 12.8% higher against the U.S. dollar. One Siacoin coin can now be bought for approximately $0.0056 or 0.00000006 BTC on exchanges.

Here’s how other cryptocurrencies have performed during the last day:

• Bitcoin (BTC) traded 0.5% higher against the dollar and now trades at $90,381.69 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 0.9% higher against the dollar and now trades at $0.36 or 0.00000402 BTC.
• Bitcoin Cash (BCH) traded 0.2% higher against the dollar and now trades at $438.10 or 0.00484061 BTC.
• UNUS SED LEO (LEO) traded 0.5% lower against the dollar and now trades at $7.65 or 0.00008448 BTC.
• Litecoin (LTC) traded 0% higher against the dollar and now trades at $88.98 or 0.00098320 BTC.
• Ethereum Classic (ETC) traded 0.2% higher against the dollar and now trades at $26.20 or 0.00028952 BTC.
• Monero (XMR) traded up 2.3% against the dollar and now trades at $154.00 or 0.00170153 BTC.
• Bitcoin SV (BSV) traded up 2.1% against the dollar and now trades at $68.02 or 0.00075159 BTC.
• Arweave (AR) traded up 3.9% against the dollar and now trades at $18.71 or 0.00020673 BTC.
• eCash (XEC) traded up 1.5% against the dollar and now trades at $0.0000 or 0.00000000 BTC.

Siacoin Profile

Siacoin is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. It launched on June 1st, 2015. Siacoin’s total supply is 57,769,785,000 coins and its circulating supply is 57,740,391,700 coins. Siacoin’s official Twitter account is @sia__foundation and its Facebook page is accessible here. 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.

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 GDAX, Changelly or Coinbase. 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