Siacoin Price

Siacoin (SC) launched in 2013 as a decentralized storage platform powered by blockchain technology, developed by Luke Champine and David Vorick. The Siacoin platform has strong current utility and future prospects, as the cloud storage industry is growing exponentially with the ever-increasing need to store large quantities of data online. Siacoin revolutionizes the cloud storage sector by introducing decentralized governance and a dynamic marketplace where Siacoin users can rent and use storage space in return for SC-based payments as cloud storage providers.

What factors influence Siacoin price and shape its value and how SC price moves in the market? If you’ve ever wondered this, then you’re in the right place. We’ve compiled everything you need to better understand the intricacies of Siacoin’s price – and the factors that influence it.

Siacoin Price History

The price of Siacoin (SC) is not immune to turbulent and frequent price swings, a defining characteristic of the cryptocurrency market. Due to the high levels of volatility in the crypto market, Siacoin prices may both rise and drop rapidly. Dramatic price changes don’t just occur within brief periods, as cryptos like SC can generate major returns in the long-run, despite these sudden drops and frequent price swings.

Siacoin joined the market of live-traded cryptocurrencies in August of 2015, when SC price was just fractions of a cent at $0.000047. In September, the highest price for Siacoin was $0.00005, while the crypto went through price swings that brought it down to the value of $0.00002 in September and October. Siacoin price dropped to new lows in November and December of the same year, trading around $0.00001.

In 2016, Siacoin’s price recovered by February, reaching new highs at $0.000090. Although fighting through pullbacks and frequent price dips, SC managed to record new highs at $0.00010 and $0.00011. After a bearish month in April of the same year, Siacoin (SC) experienced a rebound in May and the following months, trading at the price range between $0.0001 and $0.0008.

Siacoin ended the year with a value of $0.0002, and 2017 started around the same SC price. Siacoin (SC) traded upward with periodical dips throughout the following months, while reaching $0.0008 in April 2017. In May, Siacoin (SC) experienced a major surge in value, trading around $0.0012. Siacoin SC kept surging throughout May, to reach new highs in June – finally breaking above one penny. After setting a new all-time high (ATH) in June at the value of $0.015, Siacoin retreated and entered a bearish phase. By November 2017, SC had dipped to revisit its old lows. Siacoin experienced a rebound in December 2017, driven by the hype that pushed almost all cryptocurrencies to new all-time high prices.

After reaching the value of $0.02, Siacoin kept rising in January 2018, which is the time when Siacoin recorded its all-time high price at the value of $0.09. Almost immediately after reaching its ATH, Siacoin dipped by over -60%. By March of 2018, SC had dipped to $0.01 with more dips following in August. From August to November, SC traded between $0.004 and $0.007, entering another bearish phase in December and trading around $0.002.

In January 2019, SC was still valued at around $0.002. Throughout a great part of 2019, SC traded between $0.002 and $0.003 until August when Siacoin dipped to $0.001, briefly rising back to $0.002 in November. SC revisited the value of $0.001 in December 2019, ending the year on a downward note.

2020 started off slow, as SC traded around $0.001, before rising to $0.002 in February. Siacoin traded between $0.001 and $0.002 during most of the year, only breaking out of this channel at the beginning of 2021.

In January 2021, Siacoin started with $0.004 and kept rising to touch $0.04 in April with occasional dips between $0.01 and $0.04.

Analyzing Siacoin Price History

Siacoin price history can be analyzed with many techniques that are used for analyzing assets traded in traditional financial markets. Despite high volatility when compared to other financial markets, the price of Siacoin can be reasonably predicted and forecasted with the use of technical analysis (TA), fundamental analysis, and sentiment analysis.

Technical analysis examines price charts and market data that could help traders determine active market trends, and make sense of price swings while looking for trend patterns. Siacoin may drop and rise within a brief timeframe, while these price swings are defined through the balance between buying and selling activity as a large number of traders are simultaneously changing positions in SC.

Fundamental analysis takes into consideration specific factors such as the activity of the dev team, technological and utility enhancements of Siacoin (SC), Siacoin network functionalities and features, and the overall economics (or “tokenomics”) of the cryptocurrency. Max supply of SC also affects the price of Siacoin together with trading volume. Since SC doesn’t have a hard limit on its supply, Siacoin is considered inflationary with a current circulating supply of SC. The use of Siacoin and the market of cloud storage providers hosted on the Sia network is also considered crucial in fundamental analysis.

Sentiment analysis considers opinion data to rank general sentiment among traders and investors in the market. Sentiment can be neutral, positive, and negative, and can affect the value of SC and other cryptocurrencies. Sia may change its value in accordance with the general sentiment like it was the case with the positive sentiment driven by hype at the end of 2017 and the beginning of 2018.

Factors Influencing the Price of Siacoin (SC)

A multitude of specific factors can influence the value of Siacoin and form SC’s market price. One such factor is the limitless total supply and circulating supply. Much like the United States Dollar (USD), Siacoin (SC) doesn’t have a fixed supply – which makes SCinflationary. The market cap of Siacoin is calculated by multiplying the number of SC in circulating supply with the current price of SC on the open crypto market.

Another important factor that may influence Siacoin’s value is the overall adoption of its network. The greater the number of users on the Siacoin network, the more demand for SC, which should consequently lead to increased value even with its inflationary policy.

Live Siacoin Value and Market Cap

The live price of SC varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux.

Given Siacoin’s volatility, its live price can change by a large amount in a very short space of time. The market cap of Siacoin is equal to the price of SC multiplied by the number of SC in circulation.

Siacoin Price FAQ

What is the highest Siacoin price in EUR?

Siacoin price history shows that SC has recorded a peak value of EUR.

What is the lowest Siacoin price in EUR?

SC price history shows that EUR EUR is the lowest recorded Siacoin value.

How can I buy Siacoin?

You can purchase Siacoin and over 290 different cryptocurrencies in seconds with Kriptomat, learn more about how to buy Siacoin. It’s available for immediate purchase at the current SC price quote of EUR. Current prices are always displayed in the SC chart.

What is the current Siacoin price in EUR?

Kriptomat data confirms that the current Siacoin price is EUR.

Will Siacoin reach $1?

The crypto market is volatile, which means that price changes and trend reversals may occur within a brief timeframe. That being the case, SC may be influenced by numerous and various specific factors that could further push the adoption of the Siacoin blockchain, making a target of $1 within the realm of possibilities.

What is Siacoin (SC) used for?

The Siacoin blockchain offers a decentralized experience within the cloud storage sector, allowing people to rent and use storage space and bandwidth in exchange for SC-based payments. Staked SC can also be lost by unstable network hosts.

Where can I buy Siacoin?

You can buy Siacoin (SC) right here at Kriptomat. We’ve made it our mission to provide you with the most transparent live crypto market data available in order to help you stay informed and find your perfect time to buy.

Conclusion

The Siacoin (SC) blockchain aims to revolutionize the cloud storage market by creating a decentralized network where SC users can rent and use bandwidth and storage space while being directly paid in SC. Siacoin’s price may vary greatly from one trend cycle to the next, which also provides a chance for traders and investors to assess favorable Siacoin entries and exits.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Siacoin and cryptocurrencies!