Namecoin (NMC) Market Cap Tops $37.00 Million

Namecoin (CURRENCY:NMC) traded up 18.8% against the US dollar during the 24 hour period ending at 17:00 PM E.T. on August 12th. Namecoin has a total market cap of $37.00 million and approximately $173,052.00 worth of Namecoin was traded on exchanges in the last 24 hours. One Namecoin coin can now be bought for about $2.51 or 0.00039553 BTC on cryptocurrency exchanges including Bleutrade, Trade By Trade, SouthXchange and WEX. During the last week, Namecoin has traded up 34.7% against the US dollar.

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

  • Bitcoin (BTC) traded 0.9% lower against the dollar and now trades at $6,360.37 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded down 0.2% against the dollar and now trades at $574.14 or 0.09044067 BTC.
  • Steem (STEEM) traded 1.6% lower against the dollar and now trades at $0.96 or 0.00015151 BTC.
  • Unobtanium (UNO) traded 1.4% lower against the dollar and now trades at $147.00 or 0.02315646 BTC.
  • Counterparty (XCP) traded 4.7% higher against the dollar and now trades at $4.12 or 0.00064825 BTC.
  • Crown (CRW) traded 5.8% lower against the dollar and now trades at $0.27 or 0.00004229 BTC.
  • CHIPS (CHIPS) traded up 6% against the dollar and now trades at $0.13 or 0.00001971 BTC.
  • ATBCoin (ATB) traded down 0.7% against the dollar and now trades at $0.0386 or 0.00000609 BTC.
  • Terracoin (TRC) traded 2.9% lower against the dollar and now trades at $0.0688 or 0.00001083 BTC.
  • UnbreakableCoin (UNB) traded down 3% against the dollar and now trades at $0.24 or 0.00003760 BTC.

Namecoin Coin Profile

Namecoin is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It was first traded on April 18th, 2011. Namecoin’s total supply is 14,736,400 coins. The Reddit community for Namecoin is /r/namecoin and the currency’s Github account can be viewed here. Namecoin’s official website is www.namecoin.org. Namecoin’s official Twitter account is @namecoin and its Facebook page is accessible 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

Namecoin can be traded on the following cryptocurrency exchanges: WEX, Trade By Trade, Bittylicious, Bleutrade, Cryptopia, Livecoin, YoBit, SouthXchange, BX Thailand, Altcoin Trader, Poloniex and Tux Exchange. It is usually not possible to buy alternative cryptocurrencies such as Namecoin directly using US dollars. Investors seeking to acquire Namecoin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Namecoin using one of the exchanges listed above.

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