Siacoin Hits Market Capitalization of $281.52 Million (SC)

Siacoin (SC) traded 0.5% higher against the U.S. dollar during the 24 hour period ending at 20:00 PM Eastern on October 24th. Siacoin has a total market capitalization of $281.52 million and approximately $2.96 million worth of Siacoin was traded on exchanges in the last 24 hours. One Siacoin coin can now be bought for approximately $0.0049 or 0.00000007 BTC on exchanges. During the last week, Siacoin has traded down 0.2% against the U.S. dollar.

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

• Bitcoin (BTC) traded up 1.6% against the dollar and now trades at $67,960.16 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 0.2% higher against the dollar and now trades at $0.14 or 0.00000207 BTC.
• Bitcoin Cash (BCH) traded 4.9% higher against the dollar and now trades at $366.01 or 0.00538445 BTC.
• UNUS SED LEO (LEO) traded 0.2% higher against the dollar and now trades at $6.09 or 0.00008956 BTC.
• Litecoin (LTC) traded up 1.4% against the dollar and now trades at $70.90 or 0.00104298 BTC.
• Monero (XMR) traded 0.3% higher against the dollar and now trades at $157.45 or 0.00231622 BTC.
• Ethereum Classic (ETC) traded up 0.6% against the dollar and now trades at $18.79 or 0.00027644 BTC.
• Arweave (AR) traded 1.4% higher against the dollar and now trades at $18.26 or 0.00026860 BTC.
• Bitcoin SV (BSV) traded up 2.7% against the dollar and now trades at $48.17 or 0.00070859 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 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 currently possible to buy alternative cryptocurrencies such as Siacoin directly using U.S. dollars. Investors seeking to trade Siacoin should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Siacoin using one of the aforementioned exchanges.

SC/USD price chart by TradingView