Siacoin Hits Self Reported Market Capitalization of $26.82 Million (SC)

Siacoin (SC) traded 7.1% higher against the U.S. dollar during the 24 hour period ending at 8:00 AM Eastern on August 20th. Over the last seven days, Siacoin has traded up 1.4% against the U.S. dollar. One Siacoin coin can now be purchased for about $0.0005 or 0.00000001 BTC on major cryptocurrency exchanges. Siacoin has a market cap of $26.82 million and $2.17 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 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 9.7% higher 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 1% higher against the dollar and now trades at $9.24 or 0.00012912 BTC.
• Monero (XMR) traded up 1.3% against the dollar and now trades at $419.84 or 0.00586927 BTC.
• Bitcoin Cash (BCH) traded up 5.7% 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 up 10.6% 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 is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. Its genesis 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. 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. 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 currently possible to buy alternative cryptocurrencies such as Siacoin directly using U.S. dollars. Investors seeking to trade Siacoin should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Siacoin using one of the exchanges listed above.

SC/USD price chart by TradingView