Siacoin Self Reported Market Capitalization Achieves $56.01 Million (SC)

Siacoin (SC) traded 1% lower against the dollar during the 1-day period ending at 7:00 AM E.T. on May 12th. In the last week, Siacoin has traded 7.4% higher against the dollar. One Siacoin coin can currently be bought for $0.0010 or 0.00000001 BTC on exchanges. Siacoin has a market capitalization of $56.01 million and approximately $5.41 million worth of Siacoin was traded on exchanges in the last day.

Here’s how other cryptocurrencies have performed in the last day:

• Arweave (AR) traded down 4.7% against the dollar and now trades at $2.31 or 0.00002865 BTC.
• Bitcoin (BTC) traded down 0.6% against the dollar and now trades at $80,597.50 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 1.1% lower against the dollar and now trades at $0.11 or 0.00000135 BTC.
• UNUS SED LEO (LEO) traded 0.4% lower against the dollar and now trades at $10.17 or 0.00012616 BTC.
• Zcash (ZEC) traded 3.3% lower against the dollar and now trades at $550.96 or 0.00683589 BTC.
• Bitcoin Cash (BCH) traded 2.5% lower against the dollar and now trades at $439.20 or 0.00544933 BTC.
• Monero (XMR) traded 1.4% lower against the dollar and now trades at $404.60 or 0.00501999 BTC.
• Litecoin (LTC) traded down 1.5% against the dollar and now trades at $57.71 or 0.00071606 BTC.
• Ethereum Classic (ETC) traded down 2.9% against the dollar and now trades at $9.44 or 0.00011710 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.

Siacoin Coin Profile

Siacoin (CRYPTO:SC) is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. Its launch date was June 5th, 2015. Siacoin’s total supply is 62,217,525,676 coins and its circulating supply is 56,025,636,522 coins. Siacoin’s official Twitter account is @siafoundation and its Facebook page is accessible here. Siacoin’s official message board is sia.tech/blog. The Reddit community for Siacoin is https://reddit.com/r/siacoin and the currency’s Github account can be viewed here. The official website for Siacoin is sia.tech.

According to CryptoCompare, “Sia is an actively developed decentralized storage platform. Users all over the world contribute disk storage from their computers to form a decentralized network. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via “smart” storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid. The distrubuted nature of the Sia network enables many optimizations in latency, throughput, reliability, and security. The decentralized nature of the Sia network enables anyone with storage to get paid, lowering the barrier to entry and reducing the overall price of cloud storage. The Sia cryptocurrency is live! You can rent storage using siacoins and hosts providing storage to the network receive compensation in the form of siacoins. The storage platform itself is still in beta, and only uploads that are 500mb or less in size are supported by the wallet. Discord, YouTubeWhitepaper”

Buying and Selling Siacoin

It is usually not possible to buy alternative cryptocurrencies such as Siacoin directly using US dollars. Investors seeking to acquire Siacoin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Siacoin using one of the exchanges listed above.

SC/USD price chart by TradingView