Introduction to Siacoin (SC)
Siacoin is the native utility token of the Sia decentralized cloud storage platform. It enables users to rent and provide storage space on a global peer-to-peer network. This guide provides a detailed analysis of the current Siacoin price, key market statistics, and essential data for informed decision-making.
All metrics are updated in real-time to reflect the most accurate market conditions.
Siacoin Price Today and Real-Time Performance
The current live price of Siacoin (SC) is $0.0029556.
Here's a breakdown of its recent performance:
- 24-hour price change: +3.69%
- 1-hour price change: +0.58%
- 7-day price change: +0.42%
- 30-day price change: -11.66%
This volatility is common in the digital asset space and highlights the importance of monitoring short-term fluctuations and long-term trends.
Understanding 24-Hour Market Activity
Trading activity over the past day provides a snapshot of current market sentiment.
- 24-hour trading volume: $5,162,299
- 24-hour low: $0.0027964
- 24-hour high: $0.0029443
This trading range shows the price discovery process as buyers and sellers interact on various exchanges. The volume indicates a healthy level of market activity for the asset.
Comprehensive Market Ranking and Valuation
Siacoin's position within the broader digital asset market offers context for its valuation.
- Market cap rank: #313
- Market capitalization: $165,558,244
- Fully diluted valuation (FDV): $179,936,188
Market cap is calculated by multiplying the current price by the circulating supply. FDV represents the theoretical maximum market cap if all coins from the total supply were in circulation.
Analyzing Siacoin's Supply Metrics
Supply dynamics are a critical factor in assessing any digital asset's economics.
- Circulating supply: 56,025,636,522 SC
- Total supply: 60,891,195,676 SC
- Maximum supply: Not defined (inflationary)
The difference between circulating and total supply consists of coins that are locked, reserved, or not yet issued through the network's mining process.
Historical Price Context and Performance
Examining historical data helps understand an asset's potential cycles and investor behavior.
- All-time high (ATH): $0.092868 (January 6, 2018)
- Change from ATH: -96.84%
- All-time low (ATL): $0.0000126 (December 28, 2015)
- Change from ATL: +23,170.97%
Longer-term performance metrics:
- Price change (last 200 days): -55.82%
- Price change (last 1 year): -35.84%
This historical context is vital for understanding the asset's journey and potential market cycles.
Key Siacoin Statistics at a Glance
For a quick overview, here are the most crucial Siacoin metrics presented clearly.
Price Statistics
- Current Price: $0.0029556
- 24h Price Change: 3.69%
- 7d Price Change: 0.42%
- 24h Trading Volume: $5,162,299
- 24h Low: $0.0027964
- 24h High: $0.0029443
Market Capitalization
- Market Cap Rank: #313
- Market Cap: $165,558,244
- Fully Diluted Valuation: $179,936,188
Supply Information
- Circulating Supply: 56,025,636,522 SC
- Total Supply: 60,891,195,676 SC
- Max Supply: Not available
Factors Influencing the Siacoin Price
The price of SC is influenced by a combination of broader market trends and project-specific factors.
General Market Sentiment: Like most digital assets, Siacoin's price is often correlated with the overall health and direction of the crypto market, particularly Bitcoin's performance.
Network Adoption and Usage: The core value driver is the adoption of the Sia network. An increase in storage contracts, active hosts, and data stored on the network can positively impact demand for SC.
Technology and Development Updates: Improvements to the Sia platform, such as enhanced user interfaces, faster uploads/downloads, and new features, can boost investor and user confidence.
Macroeconomic Conditions: Interest rates, inflation, and global economic stability can affect investment flows into risk-on assets like cryptocurrencies.
For those looking to dive deeper into on-chain metrics and advanced chart analysis, you can explore more strategies for evaluating storage-based cryptocurrencies.
Frequently Asked Questions
What is Siacoin used for?
Siacoin is the payment token for the Sia decentralized storage network. Users pay with SC to rent storage space, and hosts earn SC by providing their unused hard drive capacity to the network. It facilitates all transactions and settlements on the platform.
How is Siacoin different from Filecoin or other storage coins?
While both are decentralized storage projects, they have different technical architectures and economic models. Sia focuses on creating a lean, efficient backbone for storage with its utility token SC, while other projects may have different consensus mechanisms and tokenomics.
Where can I buy Siacoin?
SC is available on numerous major cryptocurrency exchanges. It is typically traded against other cryptocurrencies like Bitcoin (BTC), Tether (USDT), and sometimes directly with US Dollars (USD) on certain platforms. Always ensure you use a reputable exchange.
Is Siacoin a good long-term investment?
The long-term value of Siacoin is tied to the adoption and success of the Sia network. As with any digital asset, its investment potential depends on widespread adoption, technological execution, and broader market conditions. Thorough research is essential.
What does 'fully diluted valuation' mean?
Fully Diluted Valuation (FDV) is a metric that calculates the theoretical market capitalization if the entire total supply of tokens were in circulation at the current price. It helps gauge the potential future inflation of the asset's supply.
How often is this price data updated?
The price and market data for Siacoin are updated every minute. This ensures that all statistics, including price, volume, and market cap, reflect real-time activity across global trading venues.