Siacoin (SC) Trading Up 8.5% Over Last 7 Days

Siacoin (SC) traded down 0.2% against the US dollar during the one day period ending at 9:00 AM Eastern on May 8th. Siacoin has a market cap of $408.68 million and $7.94 million worth of Siacoin was traded on exchanges in the last day. One Siacoin coin can now be bought for approximately $0.0071 or 0.00000012 BTC on major cryptocurrency exchanges. During the last week, Siacoin has traded up 8.5% against the US dollar.

Here is how similar cryptocurrencies have performed during the last day:

• Bitcoin (BTC) traded down 2% against the dollar and now trades at $61,914.63 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 6.6% against the dollar and now trades at $0.15 or 0.00000236 BTC.
• Bitcoin Cash (BCH) traded down 4.9% against the dollar and now trades at $455.96 or 0.00735344 BTC.
• Litecoin (LTC) traded down 1.4% against the dollar and now trades at $80.67 or 0.00130106 BTC.
• UNUS SED LEO (LEO) traded up 1% against the dollar and now trades at $5.89 or 0.00009506 BTC.
• Ethereum Classic (ETC) traded down 0.8% against the dollar and now trades at $26.95 or 0.00043471 BTC.
• Arweave (AR) traded down 5.7% against the dollar and now trades at $37.65 or 0.00060718 BTC.
• Monero (XMR) traded 2.8% lower against the dollar and now trades at $128.63 or 0.00207456 BTC.
• Bitcoin SV (BSV) traded 1.9% lower against the dollar and now trades at $63.37 or 0.00102202 BTC.
• eCash (XEC) traded 4.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.

Siacoin Coin Profile

SC is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. Its launch date was June 1st, 2015. Siacoin’s total supply is 57,229,095,000 coins and its circulating supply is 57,202,882,262 coins. Siacoin’s official website is sia.tech. Siacoin’s official Twitter account is @sia__foundation and its Facebook page is accessible here. The Reddit community for Siacoin is https://reddit.com/r/siacoin and the currency’s Github account can be viewed here.

According to CryptoCompare, “Siacoin (SC) is the native token of the Sia network, a decentralized storage platform facilitating global disk storage contributions to create a secure and private alternative to centralized cloud storage. Users can rent storage from hosts using Siacoin, with transactions managed by smart storage contracts on the Sia blockchain. These contracts ensure that hosts are paid only after securely storing a client’s file for a specified duration, incentivizing reliable storage. The concept for Sia and Siacoin was conceived by David Vorick and Luke Champine, founders of Skynet Labs, at an MIT hackathon in 2013. Skynet Labs, formerly Nebulous, continues to evolve the platform, aiming to build a decentralized internet through its application hosting and storage.”

Buying and Selling Siacoin

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

SC/USD price chart by TradingView