Siacoin (SC) Market Cap Hits $273.90 Million

Siacoin (SC) traded 3.4% lower against the U.S. dollar during the 1-day period ending at 10:00 AM Eastern on January 29th. One Siacoin coin can now be bought for $0.0049 or 0.00000005 BTC on popular exchanges. In the last seven days, Siacoin has traded down 8.2% against the U.S. dollar. Siacoin has a market capitalization of $273.90 million and approximately $28.03 million worth of Siacoin was traded on exchanges in the last 24 hours.

Here is how other cryptocurrencies have performed in the last 24 hours:

• Bitcoin (BTC) traded down 0.5% against the dollar and now trades at $101,994.37 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 2.4% against the dollar and now trades at $0.32 or 0.00000317 BTC.
• UNUS SED LEO (LEO) traded 0.4% lower against the dollar and now trades at $9.73 or 0.00009531 BTC.
• Litecoin (LTC) traded 2.2% lower against the dollar and now trades at $111.61 or 0.00109342 BTC.
• Bitcoin Cash (BCH) traded down 4.6% against the dollar and now trades at $408.89 or 0.00400567 BTC.
• Monero (XMR) traded 1% higher against the dollar and now trades at $222.25 or 0.00217730 BTC.
• Ethereum Classic (ETC) traded down 1.9% against the dollar and now trades at $25.19 or 0.00024681 BTC.
• IOTA (MIOTA) traded down 5.3% against the dollar and now trades at $0.28 or 0.00000277 BTC.
• Bitcoin SV (BSV) traded down 2.9% against the dollar and now trades at $47.66 or 0.00046692 BTC.
• Arweave (AR) traded 4% lower against the dollar and now trades at $12.64 or 0.00012383 BTC.

Siacoin Coin Profile

SC is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. It launched on June 1st, 2015. Siacoin’s total supply is 59,420,595,917 coins and its circulating supply is 55,462,467,633 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 possible to buy alternative cryptocurrencies such as Siacoin directly using US dollars. Investors seeking to acquire Siacoin should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. 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