Siacoin (SC) is about to dash for a break thanks to its cloud-based and decentralized storage ecosystem. The current increase in interest in the coin could be what has been missing to see its value pick an uptrend. Like most of the crypto assets, 2018 has proven to be tougher than many had thought it would be. However, things are looking up and one of the coins attracting new investors is Siacoin. As it gains in recognition, cloud storage giants like Google are keenly watching.
Why should you look at this coin?
Siacoin has real use in the real world
Siacoin’s real value is in its main use case- providing access to cloud-based storage services. From the word go, this project seeks to rival traditional companies like Google Drive, Amazon’s S3 service, DropBox, and iCloud among others.
The storage industry has seen massive growth, but the vast majority of the field’s potential hasn’t been exploited. That’s where Sia wants to come into play. There’s an increase in the need for huge storage spaces as companies/organizations, and businesses.
Other than that, users are in need of a secure, cheaper and private option to store their data. The demand for these services is ever-increasing, meaning that any crypto project that breaks into this niche has a very high chance of becoming the dominant force in the future.
Siacoin is already making inroads in this sector with low fees and extended security that its blockchain technology helps it to be tamper-resistant and anonymous, no data being accessed by third parties. As more users get to learn of it, SC has a real shout for the top.
Another thing that makes the coin value is the fact that users need SC to transact on the system. It means that the tokens will always be in demand. It is unlike other coins that derive value from speculation. The tokens are therefore likely to continue gaining in value as more users get to the ecosystem
Accessibility and availability on exchanges
SC tokens have been listed on a number of exchanges and are likely to get onto many more in coming days. At the moment, you can acquire the coins at cryptocurrency exchanges like HitBTC, Upbit, fex, Bittrex, Poloniex, QBTC, and CoinEx among others. it will also be available on OKEx soon.
The ease of access could be the final piece of the puzzle. At the moment, $2 worth of SC tokens is enough to give a user up to 1TB of storage space. It’s extremely cheap compared to what some of the current services like Amazon charge. For example, Amazon S3 charges users up to $25 to access 1TB of storage space.
There is a very high demand from the community. The team behind the crypto has indicated that there have been over 1 million downloads of its Sia software. Though not in the limelight, the coin is trending towards a major price gain.
The Siacoin (SC) team has been quite busy in revamping the platform to cater for the needs of its users and to increase features like security and speed. These protocol improvements are all in line with plans to move towards mass adoption.
Areas that have received greater attention include file recovery, better peer-to-peer file sharing, as well as general efficiency. There have also been improvements made on the UI/UX functionalities. Other than that, video streaming functions and mobile support are available
Siacoin (SC) price and market
It hasn’t been a good 2018 so far for Siacoin. The coin has been in the red every time the market dipped. For the last 30 days, SC has dropped by 32%, though that improves to 33% over the last 90 days. So, in essence, the coin has the potential to gain in coming days. It did it before by trading $300 million in 24 hours.
SC is ranked 33rd on CoinMarketCap and has a market cap of $591 million. The coins total supply is 35 billion. The coin has seen over $35 million worth of its tokens traded in the last 24 hours.
At the time of writing, SC tokens are trading at $0.016 against the US dollar. This price is far from its all-time high value of $0.117. the token has gained by 12% in the last 24 hours and by 11% over the last 7 days.
The Sia team has put in an effort to have the platform ready for global adoption and the fast-growing industry is on the verge of a breakout. Should the current positive uptrend be maintained, then Siacoin (SC) could hit its ATH or more in 2018.