Going back nearly three weeks ago, Siacoin (SC) was placed at a rough path with the existential crisis hidden in the phrase: Do or Die. That is how there was a burning question revolving around this currency, where there was a massive doubt on the matter of Siacoin’s survival in the market. This was the case because Siacoin was having a rough time with getting back on the right path due to the losses this currency has suffered from during the most recent market crash. However, tables are turning pretty fast as we all know, so we can see Siacoin recovering pretty smoothly in the last few days. Let’s see what Siacoin is all about as how well this currency is recovering in oppose to its previous losses.
Everything to Know About Siacoin
Siacoin (SC) is designed and launched as an ICO that advocates for the blockchain use in the domain of creating a safe and secure blockchain cloud computing network with decentralized nature and driven by its own native currency represented in Siacoin.
Siacoin, when summed up, is actually all about preserving data and storing your data safely, while the network works in a way of storing any type of data that you are not able to handle by yourself. The data is stored to be offline while being stored on Siacoin’s native platform.
However, every user has the right to gain the access to his/her data any time of the day because all data, although stored offline is available 24 hours a day and 7 days a week.
In addition to storing all your data safely and in a secure environment that is, of course, hacker-proof to prevent the stealing of your personal data, Siacoin also takes very low fees for their services of safely storing your data as it is said that the fees taken on this platform are the lowest on the market.
Siacoin works in a way by renting out storage space for very low fees, while the cloud computing decentralized storage is working on safely storing your personal data and information with the top security and 100% transparency.
All users of Siacoin storage space can also rent redundant data storage space to other Siacoin users, that way earning some profit while storing their own data.
The Siacoin platform is backed up and run by a protocol used for smart contracts, so all data is safe and secure, as well as immutable.
How well is Siacoin Recovering?
Ranked as the 31st coin on the global coin ranking list, it is no wonder that Siacoin (SC) is trading near the top 30 best coins in the market, as this mineable coin has a great potential in its cloud computing platform that even offers an opportunity for you to earn SC units by renting out your own data storage space that you don’t need, that way also inviting SC users to contribute to their cloud storage market while collecting a profit themselves.
Although Siacoin just couldn’t get a break from frequent losses approximately 3 weeks ago when all the currencies are slowly getting back on the track, Siacoin has witnessed an odd but welcoming case of a pretty benevolent change in its trading volume.
As of today, on April 26th, many currencies are starting to recover from the selloff that took place in the crypto market two days ago, and so is SC coin.
With the latest change in the market and after the grave suffering from frequent losses, Siacoin is going up for nearly 30% against the dollar, which makes it one of the fastest recovering coins of the week and maybe the fastest recovering coin of the day.
So, while the majority of currencies are slowly recovering while gaining under 1% on their market capitalization, Siacoin is getting back on the track big time and in all the glory of its technological potential.
Siacoin and the Market
After the latest change in the market, Siacoin (SC) is going up dizzily while trading in the green against the dollar. As the majority of currencies are trying to recover from the most recent selloff that occurred a couple of days ago, Siacoin is going rough on the market while collecting massive gains for the day.
Following the recent trend in the market, SC has gone up 29.16% against the dollar, while this currency is also trading up against BTC for 30.40%, which means that Siacoin is doing far better than Bitcoin when it comes to the increased trading volume at the current moment.
Due to a set of gains of nearly 30% against the dollar, Siacoin (SC) can now be purchased at the price of 0.025$ per one SC unit.