Siacoin Trading Down 17.7% This Week (SC)

Siacoin (SC) traded down 3.4% against the U.S. dollar during the 24-hour period ending at 21:00 PM Eastern on August 7th. One Siacoin coin can currently be purchased for about $0.0041 or 0.00000007 BTC on popular cryptocurrency exchanges. Siacoin has a market capitalization of $239.14 million and $4.44 million worth of Siacoin was traded on exchanges in the last day. During the last seven days, Siacoin has traded 17.7% lower against the U.S. dollar.

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

• Bitcoin (BTC) traded 0.5% lower against the dollar and now trades at $55,790.18 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 0.5% against the dollar and now trades at $0.0967 or 0.00000173 BTC.
• Bitcoin Cash (BCH) traded 2% higher against the dollar and now trades at $319.07 or 0.00571912 BTC.
• UNUS SED LEO (LEO) traded down 3.2% against the dollar and now trades at $5.78 or 0.00010355 BTC.
• Litecoin (LTC) traded down 2.1% against the dollar and now trades at $56.66 or 0.00101566 BTC.
• Monero (XMR) traded 0.1% higher against the dollar and now trades at $148.21 or 0.00265650 BTC.
• Ethereum Classic (ETC) traded 0.9% higher against the dollar and now trades at $18.23 or 0.00032671 BTC.
• Arweave (AR) traded 2% lower against the dollar and now trades at $19.89 or 0.00035647 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Bitcoin SV (BSV) traded up 4.3% against the dollar and now trades at $38.84 or 0.00069624 BTC.

Siacoin Profile

Siacoin (CRYPTO:SC) is a proof-of-work (PoW) coin that uses the Blake2b hashing algorithm. Its genesis date was June 1st, 2015. Siacoin’s total supply is 57,769,755,000 coins and its circulating supply is 57,740,361,723 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 Coinbase. 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