Namecoin (NMC) Reaches Market Capitalization of $15.17 Million

Namecoin (NMC) traded down 3% against the U.S. dollar during the 24 hour period ending at 12:00 PM Eastern on August 17th. Over the last week, Namecoin has traded 1.3% higher against the U.S. dollar. One Namecoin coin can now be purchased for about $1.03 or 0.00004396 BTC on popular exchanges. Namecoin has a total market capitalization of $15.17 million and approximately $7,210.00 worth of Namecoin was traded on exchanges in the last day.

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

  • Bitcoin (BTC) traded down 1.8% against the dollar and now trades at $23,420.15 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded down 2% against the dollar and now trades at $134.13 or 0.00572732 BTC.
  • Bitcoin SV (BSV) traded 1.3% lower against the dollar and now trades at $60.71 or 0.00259208 BTC.
  • Alpha Coin (ALPHA) traded up 1.1% against the dollar and now trades at $0.0235 or 0.00000100 BTC.
  • Steem (STEEM) traded down 0.7% against the dollar and now trades at $0.27 or 0.00001136 BTC.
  • Coin of champions (COC) traded up 4.6% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
  • Counterparty (XCP) traded 13.3% higher against the dollar and now trades at $5.00 or 0.00021368 BTC.
  • ICC (ICC) traded down 8.9% against the dollar and now trades at $0.0274 or 0.00000115 BTC.
  • Bogged Finance (BOG) traded 19.1% higher against the dollar and now trades at $0.45 or 0.00001469 BTC.
  • ArenaPlay (APC) traded up 5.7% against the dollar and now trades at $0.70 or 0.00003004 BTC.

About Namecoin

NMC is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It was first traded on April 19th, 2011. Namecoin’s total supply is 14,736,400 coins. Namecoin’s official Twitter account is @namecoin and its Facebook page is accessible here. Namecoin’s official website is www.namecoin.org. The Reddit community for Namecoin is /r/namecoin and the currency’s Github account can be viewed here.

According to CryptoCompare, “It is based on the code of bitcoin and uses the same proof-of-work algorithm. It is limited to 21 million coins. Each Namecoin record consists of a key and a value which can be up to 520 bytes in size. Each key is actually a path, with the namespace preceding the name of the record. The key d/example signifies a record stored in the DNS namespace d with the name example and corresponds to the record for the example.bit website. The content of d/example is expected to conform to the DNS namespace specification. The current fee for a record is 0.01 NMC and records expire after 36000 blocks (~200 days) unless updated or renewed. Namecoins used to purchase records are marked as used and destroyed, as giving the fee to miners would enable larger miners to register names at a significant discount. “

Buying and Selling Namecoin

It is usually not possible to purchase alternative cryptocurrencies such as Namecoin directly using U.S. dollars. Investors seeking to acquire Namecoin should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Namecoin using one of the exchanges listed above.

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