Siacoin (SC) Trading 8.1% Lower Over Last 7 Days

Siacoin (SC) traded up 0.4% against the US dollar during the 24 hour period ending at 8:00 AM E.T. on August 16th. During the last week, Siacoin has traded 8.1% lower against the US dollar. One Siacoin coin can now be purchased for approximately $0.0005 or 0.00000001 BTC on exchanges. Siacoin has a market capitalization of $26.03 million and $1.48 million worth of Siacoin was traded on exchanges in the last day.

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

• Arweave (AR) traded up 0.6% against the dollar and now trades at $1.80 or 0.00002860 BTC.
• Bitcoin (BTC) traded 0% higher against the dollar and now trades at $62,951.39 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 0.4% against the dollar and now trades at $0.0697 or 0.00000111 BTC.
• UNUS SED LEO (LEO) traded 4.7% higher against the dollar and now trades at $9.31 or 0.00014785 BTC.
• Zcash (ZEC) traded 1.3% lower against the dollar and now trades at $485.07 or 0.00770541 BTC.
• Monero (XMR) traded 1.9% higher against the dollar and now trades at $411.02 or 0.00652914 BTC.
• Bitcoin Cash (BCH) traded down 0.4% against the dollar and now trades at $203.75 or 0.00323657 BTC.
• Litecoin (LTC) traded up 0.7% against the dollar and now trades at $44.34 or 0.00070434 BTC.
• Ethereum Classic (ETC) traded 1.5% lower against the dollar and now trades at $6.17 or 0.00009806 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.

About Siacoin

Siacoin 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. The Reddit community for Siacoin is https://reddit.com/r/siacoin and the currency’s Github account can be viewed here. Siacoin’s official website is sia.tech. Siacoin’s official message board is sia.tech/blog. Siacoin’s official Twitter account is @siafoundation 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. Discord, YouTubeWhitepaper”

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 Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Siacoin using one of the exchanges listed above.

SC/USD price chart by TradingView