Factom (FCT) Price Hits $1.45 on Top Exchanges

Factom (CURRENCY:FCT) traded 0.7% lower against the US dollar during the 1 day period ending at 0:00 AM ET on September 25th. One Factom coin can now be purchased for about $1.45 or 0.00003429 BTC on popular exchanges. Factom has a market cap of $14.58 million and $6,055.00 worth of Factom was traded on exchanges in the last 24 hours. Over the last week, Factom has traded 12.6% lower against the US dollar.

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

  • Tether (USDT) traded 0% higher against the dollar and now trades at $1.00 or 0.00002374 BTC.
  • XRP (XRP) traded 2.8% lower against the dollar and now trades at $0.92 or 0.00002191 BTC.
  • Polkadot (DOT) traded down 8.9% against the dollar and now trades at $28.83 or 0.00068373 BTC.
  • Internet Computer (ICP) traded down 6.8% against the dollar and now trades at $43.38 or 0.00102885 BTC.
  • Filecoin (FIL) traded down 10.9% against the dollar and now trades at $56.39 or 0.00133726 BTC.
  • Bitcoin BEP2 (BTCB) traded down 0.8% against the dollar and now trades at $42,348.15 or 1.00426432 BTC.
  • eCash (XEC) traded down 2.5% against the dollar and now trades at $0.0002 or 0.00000001 BTC.
  • stETH (Lido) (STETH) traded 2.7% lower against the dollar and now trades at $2,830.52 or 0.06712432 BTC.
  • SHIBA INU (SHIB) traded 4.9% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
  • Kusama (KSM) traded 4.9% lower against the dollar and now trades at $319.73 or 0.00758215 BTC.

Factom Coin Profile

Factom launched on September 1st, 2015. Factom’s total supply is 10,079,816 coins. 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. The official message board for Factom is factomize.com/forums. 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.   “

Buying and Selling Factom

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

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