Siacoin (SC) is a cryptocurrency designed to power a decentralized cloud storage network, where users can rent out unused hard drive space in exchange for SC tokens. As of July 2 at 1:30 PM, 1 Siacoin is valued at $0.0029 USD, reflecting current market dynamics and investor sentiment. While Siacoin is not currently tradable on Coinbase, its price and market data are widely tracked across major crypto platforms and aggregators.
Understanding how Siacoin converts to USD helps investors assess value, track performance, and make informed decisions. This article provides a detailed breakdown of the SC to USD conversion, Siacoin’s market statistics, historical price trends, and frequently asked questions—offering a comprehensive resource for both new and experienced crypto participants.
Current Siacoin to USD Exchange Rate
As of the latest update, 1 Siacoin (SC) = $0.0029 USD. This rate allows you to calculate conversions in either direction with ease:
- 5 SC ≈ $0.0146 USD
- 50 SC ≈ $0.145 USD
- 100 SC ≈ $0.29 USD
- 1,000 SC ≈ $2.92 USD
Conversely, if you're converting from USD to SC:
- $1.00 USD ≈ 342.84 SC
- $50.00 USD ≈ 17,142.15 SC
- $100.00 USD ≈ 34,284.30 SC
- $1,000.00 USD ≈ 342,843.05 SC
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These figures are based on live market data as of July 2 at 1:30 PM and may fluctuate due to trading volume, market sentiment, and broader economic factors affecting the cryptocurrency ecosystem.
Siacoin Market Overview
Launched in 2015, Siacoin operates on the Sia blockchain—a decentralized storage platform that aims to disrupt traditional cloud storage providers like Amazon Web Services or Google Cloud. Instead of relying on centralized servers, Sia connects users who need storage with hosts offering spare disk space, all secured through smart contracts and cryptographic proofs.
Key Market Statistics (as of latest data):
- Current Price: $0.0029 per SC
- Market Cap: $163.48 million
- 24-Hour Trading Volume: $6.61 million
- Circulating Supply: 56.03 billion SC
- Total Supply: ~60.75 billion SC
- Active Exchanges: 123 markets globally
Siacoin’s large circulating supply is a defining feature of its economic model, keeping individual coin values low while maintaining overall network valuation. The 24-hour trading volume indicates moderate liquidity, suggesting steady interest despite not being listed on major exchanges like Coinbase.
Price Trends and Performance Analysis
Siacoin has experienced notable volatility over various timeframes:
- Last 24 Hours: +1.89% increase
- Last 7 Days: -2.97% decline
- Last 30 Days: -12.62% drop (from $0.0033 to $0.0029)
- Last Year: -33.55% decrease (from $0.0044 to current levels)
Despite short-term gains, the long-term trend shows depreciation, which may reflect broader market conditions, competition in the decentralized storage sector, or shifts in investor focus toward newer blockchain projects.
The highest 24-hour trading value recently reached $0.0029 USD per SC**, while the lowest dipped to **$0.0028 USD, indicating tight intraday movement and relatively stable short-term sentiment.
What Influences Siacoin’s Value?
Several factors contribute to Siacoin’s price movements:
1. Network Adoption
The more users and hosts participating in the Sia network, the higher the demand for SC tokens—to pay for storage and reward hosts.
2. Competition
Projects like Filecoin (FIL), Arweave (AR), and Storj (STORJ) offer similar decentralized storage solutions, creating competitive pressure that can influence investor preference.
3. Market Sentiment
General crypto market trends—such as Bitcoin’s performance or macroeconomic news—often ripple down to altcoins like Siacoin.
4. Development Activity
Ongoing upgrades, partnerships, or improvements in Sia’s protocol can boost confidence and drive price appreciation.
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Frequently Asked Questions (FAQ)
Is Siacoin available on Coinbase?
No, Siacoin (SC) is not currently tradable on Coinbase. However, it is listed on over 120 other exchanges worldwide where you can buy, sell, or trade SC.
How can I buy Siacoin if it’s not on Coinbase?
You can purchase Siacoin on various cryptocurrency exchanges such as Bittrex, Poloniex, or through decentralized platforms. Always ensure the exchange supports your preferred payment method and region.
What gives Siacoin its value?
Siacoin derives value from its utility within the Sia network—specifically for paying for decentralized cloud storage services and incentivizing hosts to maintain uptime and reliability.
Can I mine Siacoin?
Yes, Siacoin can be mined using compatible hardware. Mining supports the network’s security and decentralization while rewarding participants with newly minted SC tokens.
Why is the price of Siacoin so low?
With a circulating supply exceeding 56 billion coins, individual coin value remains low even with a healthy market cap. This is common among utility-focused cryptocurrencies with high token distribution.
Is Siacoin a good long-term investment?
As with any cryptocurrency, investing in Siacoin carries risk. Its long-term potential depends on adoption of the Sia platform, technological advancements, and competition within the decentralized storage space.
Final Thoughts
Converting Siacoin to USD provides insight into its real-world purchasing power and market standing. While currently priced at just $0.0029 per coin, Siacoin plays a vital role in enabling a decentralized internet infrastructure through secure, peer-to-peer cloud storage.
Though absent from Coinbase for now, active trading across numerous exchanges ensures liquidity and accessibility for interested investors. Monitoring key metrics—like trading volume, price trends, and network growth—can help inform smarter investment strategies.
Whether you're exploring Siacoin for storage use cases or speculative investment, staying informed is essential in the fast-evolving world of blockchain technology.
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