Factom (FCT) Reaches Market Capitalization of $27.04 Million

Factom (CURRENCY:FCT) traded down 1.4% against the U.S. dollar during the 24-hour period ending at 0:00 AM ET on October 21st. One Factom coin can currently be bought for approximately $2.75 or 0.00033474 BTC on popular cryptocurrency exchanges including Poloniex, Bit-Z, BCEX and Cryptopia. Factom has a market capitalization of $27.04 million and $401,864.00 worth of Factom was traded on exchanges in the last 24 hours. Over the last week, Factom has traded 24.1% lower against the U.S. dollar.

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

  • XRP (XRP) traded 2.5% higher against the dollar and now trades at $0.30 or 0.00003634 BTC.
  • Tether (USDT) traded 0% lower against the dollar and now trades at $1.00 or 0.00012201 BTC.
  • Binance Coin (BNB) traded up 1% against the dollar and now trades at $18.39 or 0.00223408 BTC.
  • Bitcoin SV (BSV) traded 16.8% higher against the dollar and now trades at $111.83 or 0.01358812 BTC.
  • Stellar (XLM) traded up 1.2% against the dollar and now trades at $0.0639 or 0.00000777 BTC.
  • TRON (TRX) traded 1.3% higher against the dollar and now trades at $0.0157 or 0.00000191 BTC.
  • Chainlink (LINK) traded up 9.9% against the dollar and now trades at $2.74 or 0.00033312 BTC.
  • COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.
  • NEO (NEO) traded up 2.4% against the dollar and now trades at $7.48 or 0.00090888 BTC.
  • Crypto.com Chain (CRO) traded 0.3% lower against the dollar and now trades at $0.0381 or 0.00000379 BTC.

About Factom

Factom was first traded on October 5th, 2015. Factom’s total supply is 9,822,479 coins. The official website for Factom is factom.org. The Reddit community for Factom is /r/factom and the currency’s Github account can be viewed here. Factom’s official Twitter account is @factom and its Facebook page is accessible here.

According to CryptoCompare, “Will Factoids have their own blockchain? Ultimately Factoids will be implemented on their own Chain in Factom. For the crowd sale, other options are possible. How are Factoids created? Two ways. Factoids will be created as a part of the crowd sale. Secondly, Factoids will be created at a fixed rate and paid to the Factom Servers and Audit Servers for their work running the system, and to pay other incentives. Is there a separate Proof of Work or other consensus mechanism for factoids, independent of factom? No. That said, the Factom chain and the Entry chain are managed by the Factom Servers (they are the application using these chains) so they validate them in real time. No invalid entries can be placed in these chains. How do factoids get sent back to the protocol? Is it a kind of burn?   No. The Entry Credits are burned. Entry Credits are non transferable. They can only be used to buy entries. But when they DO buy entries, the Factoid in the protocol that was used to buy the Entry Credits is released. The amount of Factoids varies since the price of Entry Credits per Factoid varies.   The Factoid paid out is calculated by dividing the total number of Factoid in the protocol by the number of outstanding Entry Credits.   The number of Factoids in the protocol and the number of outstanding Entry Credits are all computable from the Entry Chain and the Factoid Chain.   “

Factom Coin Trading

Factom can be bought or sold on these cryptocurrency exchanges: Bittrex, Upbit, Bit-Z, BCEX, Cryptopia and Poloniex. It is usually not possible to buy alternative cryptocurrencies such as Factom directly using US dollars. Investors seeking to acquire Factom should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Factom using one of the aforementioned exchanges.

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