Factom (FCT) Price Reaches $2.32 on Major Exchanges

Factom (CURRENCY:FCT) traded up 3.4% against the US dollar during the twenty-four hour period ending at 12:00 PM ET on April 8th. One Factom coin can currently be bought for approximately $2.32 or 0.00004016 BTC on exchanges. Over the last week, Factom has traded 2.5% lower against the US dollar. Factom has a total market cap of $22.64 million and $34,469.00 worth of Factom was traded on exchanges in the last 24 hours.

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

  • XRP (XRP) traded up 1.3% against the dollar and now trades at $0.97 or 0.00001677 BTC.
  • Tether (USDT) traded down 0% against the dollar and now trades at $1.00 or 0.00001731 BTC.
  • Polkadot (DOT) traded up 1.5% against the dollar and now trades at $40.75 or 0.00070462 BTC.
  • Filecoin (FIL) traded up 3.9% against the dollar and now trades at $148.37 or 0.00256574 BTC.
  • Klaytn (KLAY) traded 1.4% lower against the dollar and now trades at $3.17 or 0.00005485 BTC.
  • Kusama (KSM) traded up 0.1% against the dollar and now trades at $456.76 or 0.00789854 BTC.
  • Bitcoin BEP2 (BTCB) traded up 2.2% against the dollar and now trades at $57,923.76 or 1.00164046 BTC.
  • KnoxFS (old) (KFX) traded up 4.3% against the dollar and now trades at $19.25 or 0.00049793 BTC.
  • THORChain (RUNE) traded up 6.7% against the dollar and now trades at $10.12 or 0.00017498 BTC.
  • Wrapped BNB (WBNB) traded up 5.8% against the dollar and now trades at $407.43 or 0.00704550 BTC.

About Factom

Factom launched on September 1st, 2015. Factom’s total supply is 9,749,128 coins. Factom’s official Twitter account is @factom and its Facebook page is accessible here. Factom’s official message board is factomize.com/forums. The Reddit community for Factom is /r/factom and the currency’s Github account can be viewed here. Factom’s official website is www.factomprotocol.org.

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.   “

Buying and Selling Factom

It is usually not possible to purchase alternative cryptocurrencies such as Factom directly using US dollars. Investors seeking to trade Factom should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Factom using one of the aforementioned exchanges.

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