Siacoin (SC) Self Reported Market Capitalization Reaches $57.08 Million

Siacoin (SC) traded down 5.1% against the U.S. dollar during the one day period ending at 8:00 AM E.T. on October 3rd. One Siacoin coin can now be bought for about $0.0010 or 0.00000001 BTC on exchanges. In the last week, Siacoin has traded 6.8% lower against the U.S. dollar. Siacoin has a market cap of $57.08 million and $3.36 million worth of Siacoin was traded on exchanges in the last 24 hours.

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

• Arweave (AR) traded up 7.6% against the dollar and now trades at $4.69 or 0.00005538 BTC.
• Bitcoin (BTC) traded down 2% against the dollar and now trades at $84,672.85 or 1.00000000 BTC.
• Zcash (ZEC) traded down 5% against the dollar and now trades at $1,310.66 or 0.01547911 BTC.
• Dogecoin (DOGE) traded down 3.6% against the dollar and now trades at $0.0929 or 0.00000110 BTC.
• Monero (XMR) traded 0.4% higher against the dollar and now trades at $547.12 or 0.00646157 BTC.
• UNUS SED LEO (LEO) traded up 0.4% against the dollar and now trades at $8.99 or 0.00010621 BTC.
• Bitcoin Cash (BCH) traded down 1% against the dollar and now trades at $311.87 or 0.00368326 BTC.
• Litecoin (LTC) traded 0.1% lower against the dollar and now trades at $69.67 or 0.00082283 BTC.
• Ethereum Classic (ETC) traded 2.4% lower against the dollar and now trades at $8.87 or 0.00010472 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

Siacoin Coin Profile

Siacoin (SC) 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. 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 @siafoundation and its Facebook page is accessible 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 presently possible to buy alternative cryptocurrencies such as Siacoin directly using U.S. dollars. Investors seeking to acquire Siacoin should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Changelly 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