Sia is one of a kind decentralized cloud storage platform that aims to compete with the existing storage methods. It intends to provide solutions at both P2P and enterprise levels. The main difference between existing storage and Sia is that the renting of cloud storage is from a centralized provider, while it is between peers on the Sia platform. This peer-to-peer renting of storage is possible through blockchain technology. Also, as it is decentralized, the transaction time is negligible and is extremely safe as well. A Sia user can rent out space for storing data, for which he will receive a reward.
The platform and cryptocurrency development of Sia is going great for a while. This cryptocurrency got its recognition in 2015, which began the overall growth of Sia. This unique technology and concept have got the eyes of both users and investors.
Sia is more gravitated towards ordinary users because the entry threshold is minimal. Rewards on the network can be received by anyone who provides space for storing data.
Siacoin, launched in 2013, has a market capitalization of $14,81,00,162. It is ranked 56th on the CoinMarketCap web portal. It presently has a 24-hour trading volume of $66,54,549. Its circulating/total supply stands at 41,81,70,47,634 SC. The mentioned supply is a critical factor to calculate the market capitalization of the coin. To an extent, the supply can be used to forecast the Siacoin price. If the supply increases drastically, and the demand remains the same, then it will lead to depreciation in the value of Siacoin. The flip side holds true, as well.
Siacoin price today, as on June 22, is $0.003542, which is down 0.59% from the previous trading day. Siacoin price made an ATH (all-time high) $0.111708 on January 6th, 2018. And on December 1st, 2015 it made an ATL (all-time low) to $0.000011. Below are the high and low values for different time periods:
The Siacoin price has had high volatility in some phases of its journey, which can be seen from the below chart of Siacoin against the US dollar. Until 2017, the prices were hovering between $0.00004123 and $0.001055. From January 2017, the prices rallied all the way to $0.02331. This price failed to sustain and dropped 85% from that level. However, from $0.0033, the market bounced back; in fact, it rallied 3000% and made an all-time high. But yet again, the prices did not hold to the highs and fell 98% in value. Thereafter, the Siacoin price never touched the ATH but did make an all-time-low in 2020.
The most recent record the market made was that it set an ATL in the first quarter of 2020. From then the Siacoin price is trending north and is up 445% from the lows. The red line represents the technical resistance, where the prices drop when it reaches that area. Siacoin price right now is reacting off from the same area.
Siacoin can not just be bought or sold against the US dollar, but with other fiat currencies and cryptocurrencies as well. The market price of Siacoin against the US dollar represents the value of Siacoin in terms of USD. In a similar fashion, here are the prices of Siacoin against other major currencies and cryptocurrencies.
Siacoin price today against pound sterling is 0.0028 GBP. This price determines the value of 1 Siacoin in terms of Britain's pound. If you wish to calculate the price of Siacoin against the pound for other values, click on the following link – Siacoin price converter to GBP
One Siacoin is equivalent to 0.0031 euros. Thus, it would be quoted as – Siacoin/EUR = 0.0031. Here, Siacoin is the base currency, and EUR is the quote currency. Below is a link to the calculator that can be used to convert Siacoin to EUR.
The current Siacoin price in JPY is 0.3780. In essence, it means that to purchase one Siacoin, one must pay a price of 0.3780 Japanese yen. Similarly, the trader must produce 0.756 yens to buy two Siacoins. Here is a calculator that lets you calculate the price of Siacoin in terms of JPY – Siacoin JPY Converter.
Siacoins can be bought and sold against cryptocurrencies as well. They are not confined only to fiat currencies. One can buy, sell, and trade Siacoin against coins like Bitcoin, Ethereum, and Tether. In all cases, Siacoin is the base currency, and the other is the base currency.
The price of Siacoin, when traded against BTC, is 0.00000038. Thus, each Siacoin is worth 0.00000038 BTC. You may use the Siacoin to BTC Converter to calculate the price of Siacoin to Bitcoin for different values.
The use cases of Siacoin is firm and unique. This makes it stand out in the crypto space. As years are passing by, Siacoin is gaining popularity among the public. Here is what the experts have to say about Siacoin's price for the year 2020.1. Trading Beasts
Trading Beasts, a crypto price predicting website, has predicted that Siacoin price will reach up to $0.02 by the end of 2020. They are extremely bullish on Siacoin price.2. Crypto Ground
Crypto Ground’s Siacoin forecast for the year 2020 is more on the conservative side. They say that Siacoin’s future is great, but there is a probability that it will rally significantly. Their Siacoin price forecast is $0.0027 for the year 2020, and a five-year prediction is $0.0476.3. Wallet Investor
The Wallet Investor website predicts that Siacoin price might reach $0.000046 by the end of the year 2020. They believe 2020 is not the year where Siacoin price will skyrocket.
Due to technological and regulatory issues, there are quite a few challenges and difficulties involved in the prediction of Siacoin price. However, there are a number of positives in Siacoin. Siacoin and its team are planning on reaching out to more projects like Blockstack and RNDR to solve the scalability issues. Siacoin has also been working to tie-up with organizations like Netflix in the coming months. By the end of 2020 or the beginning of 2021, Siacoin's price could reach around $0.031.
2021 is the year when Siacoin is expected to have more and more collaborations and tie-ups. According to the roadmap of Sia, it aims to compete with Amazon S3, an internet giant. This could be achievable because the current storage capacity has significantly increased than it was in the beginning. As a result, the usage rate will also increase drastically. Siacoin will have the upper hand compared to other cryptocurrencies as it offers unique functionality. With these points into consideration, our Siacoin price forecast for the year 2021 is $0.046. We are very optimistic about the Siacoin price future in the upcoming years.
Cloud storage is already growing in popularity, but only in centralized firms. In the future, this storage method expands, people will realize the benefits of decentralized firms. However, gaining popularity in public will take some time. Thus, our Siacoin price prediction for the year 2025 is $1.
Siacoin is a unique technology that is currently in need. It provides features that can help the general public and not only cryptocurrency enthusiasts. Thus, the reach of Sia can be huge in the coming years. It has been working hard on approaching the network speed of Amazon S3, which would increase the speed by 300%. Sia also has plans to collaborate with biggies like Amazon, Netflix, and Dropbox, which would certainly enable Siacoin to grow much faster than its peers. Therefore, with anticipation in demand coming in, Siacoin can prove to become a cryptocurrency winner.
Siacoin, a decentralized storage platform, has been in the news for quite a while, as it offers exclusive benefits to users. Unlike a centralized system, Sia is decentralized, where peers on the network and rent storage from each other. Presently, Siacoin is in the phase, which can take a huge jump in the future due to its increase in demand. Siacoin is one of the rare coins that benefit crypto speculators and enthusiasts as well as technology users. Thus, we believe that Sia can take the cloud storage community to new heights in the coming future.
Siacoin price today, as on writing, is $0.003542. Since a week, Siacoin's price has been dropping from levels of $0.004022 because it is reacting from the resistance. However, considering the data over a month, Siacoin is in an uptrend.
The current market capitalization of Siacoin is $14,81,00,162. With this value, it stands in the 56th position on CoinMarketCap. Over the years, Siacoin has made it to the top 5% of cryptocurrencies in market cap, which is an indirect reflection on the demand for the coin. Having this said, it is far behind Bitcoin, whose current market cap is $1,76,63,93,85,270.
When a platform offers something unique to users, which is helpful, the demand will either stay intact or rise gradually or rapidly. Cloud storage is new in the market but is currently dominated by centralized platforms only. In the coming years, as people become more aware of the decentralized platforms, Siacoin can make an unbelievable future ahead.
In the short term, as well as in the long term, our firm and experts both are bullish on Siacoin. In anticipation of the partnerships that are due, our price target on Siacoin is at least around $0.03 form the current levels. And the time frame for the same would be not more than a year.
When Siacoin was launched, it was not really available on trading platforms to buy or sell. But, as it started to gain popularity, Siacoin got listed on several firms. This increased the market cap of Siacoin as well. Some of the exchanges where one can buy, sell, and exchange Siacoin is Binance, Bittrex, HitBTC, and Poloniex.
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