Siacoin is a decentralized blockchain-based cloud storage platform. It stores data by splitting apart, encrypting and then distributing it across their decentralized network. Thus, the cloud storage marketplace available for Sia blockchain users is meant to be highly redundant, completely private, and more affordable than many alternatives.
At the time of writing, the siacoin price has increased by 3.75% against USD, trading at $0.003627. In term of SC/BTC the price surged up to 2.35%. The coin is trading at 0.00000042 BTC.
Currently, the coin is ranking in 57th position, holding market cap $148,331,482 USD with $6,357,134 hour volume and 40,891,484,075 SC circulating supply.
According to Technical Indicators
- The MACD indicator has turned bullish on the one-hour time frame and continues to issue a buy signal.
- The Relative Strength indicator has turned bullish on the one-hour time frame which above 60 levels.
- The Bollinger Band is showing expanding volatility in the market.
- The Chaikin Money Flow indicates the Bullish Trend, continuous Buying Pressure, rising prices coinciding with CMF values above 0
- The Awesome Oscillator showed a bullish buying opportunity or short-term momentum in the market.
- The Parabolic SAR markers were above the candles and showcased a bullish market.
Recently, the platform updated its file storage system, including Filebase and Goobox, which will now operate completely on Siacoin’s network.
Overall, Siacoin can prove to be beneficial in the future as the demand for blockchain based file storage system increases.