Siacoin Trading Down 5.9% This Week (SC)

Siacoin (SC) traded down 3.7% against the US dollar during the one day period ending at 15:00 PM ET on October 31st. Siacoin has a market capitalization of $264.04 million and $2.50 million worth of Siacoin was traded on exchanges in the last 24 hours. One Siacoin coin can now be purchased for about $0.0046 or 0.00000006 BTC on cryptocurrency exchanges. Over the last seven days, Siacoin has traded down 5.9% against the US dollar.

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

• Bitcoin (BTC) traded 1.8% lower against the dollar and now trades at $70,699.13 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 0.6% lower against the dollar and now trades at $0.17 or 0.00000235 BTC.
• Bitcoin Cash (BCH) traded down 2.8% against the dollar and now trades at $360.21 or 0.00509352 BTC.
• UNUS SED LEO (LEO) traded 0% lower against the dollar and now trades at $6.05 or 0.00008560 BTC.
• Litecoin (LTC) traded 3.4% lower against the dollar and now trades at $69.49 or 0.00098262 BTC.
• Monero (XMR) traded 3.3% lower against the dollar and now trades at $157.31 or 0.00222443 BTC.
• Ethereum Classic (ETC) traded down 4.5% against the dollar and now trades at $18.64 or 0.00026363 BTC.
• Arweave (AR) traded down 5.8% against the dollar and now trades at $15.62 or 0.00022090 BTC.
• Bitcoin SV (BSV) traded up 2.1% against the dollar and now trades at $51.61 or 0.00072972 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

Siacoin Profile

SC is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. It was first traded on June 1st, 2015. Siacoin’s total supply is 57,769,785,000 coins and its circulating supply is 57,740,391,700 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 website is sia.tech. Siacoin’s official Twitter account is @sia__foundation and its Facebook page is accessible 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 presently possible to purchase alternative cryptocurrencies such as Siacoin directly using U.S. dollars. Investors seeking to trade Siacoin should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Siacoin using one of the exchanges listed above.

SC/USD price chart by TradingView