The Siacoin (SC) crypto price increased over 1%, while its trading volume rose 109% in the last 24 hours to Friday morning. But what is Siacoin (SC) crypto?
Sia is a distributed, decentralized cloud storage blockchain platform. It runs a secure marketplace for cloud storage systems and allows users to lease their unused storage space.
The platform’s agreements and transactions are administered through smart contracts. Siacoin operates like an exchange in facilitating user payments for network storage.
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It aims to become the “backbone storage layer of the internet”. David Vorick first “conceived” the project in 2013 before its launch in June 2015. Siacoin (SC) is the native utility token of the Sia platform. It can be traded on exchanges like Binance, OKEx, Huobi Global, etc.
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Data Source: CoinMarketCap.com
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Price and performance:
The SC coin rose 1.02% to US$0.003637 at 7:48 am ET on June 17. Its trading volume increased by 109.59% to US$21.89 million in the last 24 hours.
Siacoin has a market cap of US$186.29 million, and its fully-diluted market cap is US$186.48 million. The token’s total and current circulating supply is over 51.22 billion. It saw the highest price of US$0.005971 and the lowest price of US$0.003212 in the last 30 days.
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The crypto market was trading below the US$1-trillion mark on Friday. Bitcoin was priced at US$21,153.14 at 7:47 am ET, down around 69% from its all-time high of US$68,789.63 on November 10, 2021.
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