Siacoin Market Cap Reaches $320.51 Million (SC)

Siacoin (SC) traded 7.4% lower against the US dollar during the 1-day period ending at 10:00 AM ET on January 13th. One Siacoin coin can now be bought for approximately $0.0056 or 0.00000006 BTC on popular cryptocurrency exchanges. Siacoin has a total market capitalization of $320.51 million and $30.98 million worth of Siacoin was traded on exchanges in the last 24 hours. During the last seven days, Siacoin has traded down 8.8% against the US dollar.

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

• Bitcoin (BTC) traded 2.8% lower against the dollar and now trades at $92,392.29 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 4.2% lower against the dollar and now trades at $0.33 or 0.00000353 BTC.
• UNUS SED LEO (LEO) traded down 1% against the dollar and now trades at $9.23 or 0.00009987 BTC.
• Bitcoin Cash (BCH) traded down 7.3% against the dollar and now trades at $417.96 or 0.00452381 BTC.
• Litecoin (LTC) traded 5.7% lower against the dollar and now trades at $96.83 or 0.00104807 BTC.
• Monero (XMR) traded down 2.4% against the dollar and now trades at $199.69 or 0.00216135 BTC.
• Ethereum Classic (ETC) traded down 5.6% against the dollar and now trades at $24.01 or 0.00025990 BTC.
• IOTA (MIOTA) traded 5.5% lower against the dollar and now trades at $0.32 or 0.00000342 BTC.
• Bitcoin SV (BSV) traded 6.9% lower against the dollar and now trades at $52.77 or 0.00057115 BTC.
• Arweave (AR) traded down 5.9% against the dollar and now trades at $14.84 or 0.00016065 BTC.

Siacoin Coin Profile

Siacoin (CRYPTO:SC) is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. Its genesis date was June 1st, 2015. Siacoin’s total supply is 57,769,785,000 coins and its circulating supply is 57,740,391,700 coins. The official website for Siacoin is sia.tech. The Reddit community for Siacoin is https://reddit.com/r/siacoin and the currency’s Github account can be viewed here. Siacoin’s official Twitter account is @sia__foundation and its Facebook page is accessible here.

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.”

Buying and Selling Siacoin

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

SC/USD price chart by TradingView