Siacoin (SC) Hits Market Capitalization of $385.60 Million

Siacoin (SC) traded 2.1% higher against the U.S. dollar during the one day period ending at 8:00 AM Eastern on May 2nd. In the last seven days, Siacoin has traded 12.2% lower against the U.S. dollar. One Siacoin coin can now be purchased for $0.0068 or 0.00000011 BTC on cryptocurrency exchanges. Siacoin has a market cap of $385.60 million and $8.28 million worth of Siacoin was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

• Bitcoin (BTC) traded up 1.6% against the dollar and now trades at $58,849.51 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 4.1% against the dollar and now trades at $0.13 or 0.00000224 BTC.
• Bitcoin Cash (BCH) traded 3.7% higher against the dollar and now trades at $426.39 or 0.00724539 BTC.
• Litecoin (LTC) traded up 3.4% against the dollar and now trades at $80.16 or 0.00136215 BTC.
• UNUS SED LEO (LEO) traded 0.8% higher against the dollar and now trades at $5.87 or 0.00009970 BTC.
• Ethereum Classic (ETC) traded up 3.4% against the dollar and now trades at $25.73 or 0.00043729 BTC.
• Monero (XMR) traded up 5.6% against the dollar and now trades at $125.71 or 0.00213613 BTC.
• Arweave (AR) traded 15.4% higher against the dollar and now trades at $31.94 or 0.00054270 BTC.
• Bitcoin SV (BSV) traded up 1.6% against the dollar and now trades at $58.57 or 0.00099523 BTC.
• eCash (XEC) traded up 2.6% against the dollar and now trades at $0.0000 or 0.00000000 BTC.

About Siacoin

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 57,071,175,000 coins and its circulating supply is 57,043,789,839 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 @sia__foundation and its Facebook page is accessible here. The official website for Siacoin is sia.tech.

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.”

Siacoin Coin Trading

It is usually not presently possible to buy alternative cryptocurrencies such as Siacoin directly using US dollars. Investors seeking to acquire Siacoin should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Siacoin using one of the aforementioned exchanges.

SC/USD price chart by TradingView