Siacoin (SC) Achieves Market Capitalization of $243.84 Million

Siacoin (SC) traded 0.1% higher against the U.S. dollar during the one day period ending at 23:00 PM E.T. on September 10th. One Siacoin coin can currently be purchased for about $0.0042 or 0.00000007 BTC on major cryptocurrency exchanges. Siacoin has a market capitalization of $243.84 million and $2.55 million worth of Siacoin was traded on exchanges in the last 24 hours. Over the last seven days, Siacoin has traded 3.5% higher against the U.S. dollar.

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

• Bitcoin (BTC) traded up 0.2% against the dollar and now trades at $56,777.63 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 1.7% against the dollar and now trades at $0.10 or 0.00000178 BTC.
• Bitcoin Cash (BCH) traded up 2.2% against the dollar and now trades at $325.97 or 0.00574115 BTC.
• UNUS SED LEO (LEO) traded 1.5% lower against the dollar and now trades at $5.52 or 0.00009720 BTC.
• Litecoin (LTC) traded 1.1% higher against the dollar and now trades at $61.21 or 0.00107807 BTC.
• Monero (XMR) traded 1.5% lower against the dollar and now trades at $168.35 or 0.00296500 BTC.
• Ethereum Classic (ETC) traded 0.9% higher against the dollar and now trades at $18.38 or 0.00032372 BTC.
• Arweave (AR) traded down 5.1% against the dollar and now trades at $19.31 or 0.00034008 BTC.
• Bitcoin SV (BSV) traded 7.4% higher against the dollar and now trades at $49.32 or 0.00086869 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 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 57,769,785,000 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, “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 buy alternative cryptocurrencies such as Siacoin directly using US dollars. Investors seeking to trade 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