Price Analysis

Siacoin Price Analysis: Siacoin (SC) is Having False Price Rally

eToro

Siacoin (SC) is of Blake2b Hashing algorithm, which makes it proof-to-work (PoW) coin. It supports two-way payment channels and contract diffs. SC coin provides huge scalability and eliminates the untrustworthy zero confirmation transaction. Siacoin concentrates highly on its privacy, and hence the people storing a respective file cannot see any other uploads done by the same.

Although it has many positive traits, we have no news altogether for currency in the upcoming months. The coin is extremely volatile and bears huge risks.

eToro Crypto

The last month’s chart has shown some improvement in the momentum.

Let’s have a look at the charts of SC coin.

Siacoin Price Statistics:

The price analysis is done with the help of the chart taken from Trading View on 3rd June 2019, at 08:41 UTC.

Siacoin price chart - june 3

  • The currency is holding up at 58th rank.
  • SC coin can be bought at 0.003428 USD. (0.00343000)
  • The market cap is at 140,367,157 USD.
  • The ROI stands positive, 7,391.63%.
  • In the last 24hr, the volume of Siacoin is noted as 1,695,413 USD.
  • SC Coin’s all-time high is 0.111708 USD.
  • Coin’s circulating supply is 40,942,721,597 SC.

Looking at the chart, we can observe that the price of Siacoin (SC) have started maintaining its own pace. The price tried to maintain stability level from 26th to 30th May. However, the price dropped tenuously on 31st May. From the first day of June, the currency tried to pick up and but soon dropped.

Siacoin Price Comparison:

If we compare the price of SC Coin from the beginning of 2019 till now, the growth is not showing a great progression.

For a more precise picture, let’s compare the current price of Siacoin from that of last month. As on 3rd June 2019, at 08:41 UTC, the price is marked as $0.00343000, and the price on 8th May 2019 was noted as $0.002588. The increase in price is by 32%.

Siacoin Price Prediction and Conclusion:

Although this coin has reflected some improvement in the last month, again, the bearish trend has begun. Due to the lack of any news on its upcoming business plans and upgrades, we are not sure whether the price will walk up shortly.

We would recommend thinking about some other currency instead of going for Siacoin. The token has shown some extreme volatile movement in the past, and the same is expected in the future.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

Related Articles

Back to top button