Siacoin: Birth of a New Era

The blockchain industry has made the DeFi ecosystem not just relatively easy but has also made various applications and data on the cloud enormously easy to store. While most of the cryptocurrencies focused on only making the transactions lightning fast and at minimal gas fees, platforms like Sia specifically focused on conceptualizing a system whereby all agreements and transactions enforced with smart contracts are safely stored in a manner that the data is available and comfortably accessible when needed and simultaneously utilizing the unused storage space. Let’s explore an deep introduction and Siacoin price prediction for the next five years.

Siacoin Overview

Cryptocurrency Siacoin
Ticker Symbol SC
Price $0.003772
Price Change 24H +4.33%
Price Change 7D +6.67%
Market Cap $294,329,699
Circulating Supply 51,015,952,992 SC
Trading Volume $10,697,379
All-Time High $0.1117
All-Time Low $0.00001131
Siacoin ROI +12501.24%

Creating a secure and trustless marketplace, the Sia project has given immense contribution to the decentralized cloud storage ecosystem, say replacing the spare hard drive space. Founded initially in 2014, Sia was officially launched in June 2015 by David Vorick and Luke Champine, who, together with Jim Pallotta, the investor, and founder of Raptor Group, devised this phenomenal platform of Sia.

Siacoin: Revolutionizing the Crypto World

Launching the native utility token SC, Siacoin stands as one of the significant contributors to DeFi space, giving tough competition to the industry’s largest giants like Amazon, Google, and Microsoft in terms of cloud storage solution providers and that too on competitive storage rates in the crypto industry.

Files stored on the Sia network are divided into 30 encrypted segments, with each segment uploaded to a unique host for redundancy. The agreements between uploaders and hosts are recorded on Siacoin (SC) ecosystem and enforced using smart contracts. Hence Siacoin becomes like a payment mediator network, with renters paying hosts using SC and hosts locking SC in smart contracts as collateral on which Siacoin relies entirely to store files.

Siacoin: Expansion and Community Contributions

The grants to Sia have been bestowed upon by renowned enterprises, including Bain Capital Ventures, Paradigm, and INBlockchain. Each storage-related transaction on the Sia network is subject to a 3.9% fee, distributed to holders of the company’s second cryptocurrency, Siafund — with Skynet holding approximately 85% of all Siafund.

Fundamentals of The Project

SC, the utility token of Sia, is designed to power transactions via smart contracts and is introduced as mining rewards through Sia blockchain’s proof-of-work mining algorithm. There are plans to launch a proof-of-burn mechanism, and team Sia has mined around 100 blocks (around 30 million SC) before publicly releasing the mining algorithm.

The concept of Sia blockchain is similar to Google Drive or Amazon S3 but instead, the network users rent data storage space in a P2P network. Using a proof-of-work consensus algorithm, the Sia protocol has ensured the entire process to be entirely secure and safe for users as miners here compete with each other to add new blocks to the blockchain, and a majority must confirm a record for it to be posted.

Siacoin Forecast: Market Sentiment

Depending on various experts’ Siacoin SC price predictions based on historical data, our experts have the following investment advice to share doing a detailed technical analysis:

Based on our Siacoin price forecast, a long-term increase is expected, the price prediction for 2027 is $0.0681. With a 5-year investment, the revenue is expected to be around +640.22%.
Wallet Investor

Based on Redditors’ Siacoin price prediction 2022, the SC price would cross $0.012 by the end of this year. Moreover, according to our investment advice, Siacoin would be a reasonably good short-term investment option. Users should invest in the Sia platform’s native cryptocurrency to reap more profits in the upcoming months.Reddit Community

The Siacoin price is forecasted to reach $0.0134080 by the beginning of December 2022. The expected maximum price is $0.0167599; the minimum price is $0.0113968. The Siacoin price prediction 2022 is $0.0134080.Trading Beasts

Currently, SC trades around $0.0092, and SC crypto price prediction predicts that the SC tokens have a bright future in the crypto and blockchain industry. It will cross $0.01245 by the end of 2022, and around the first half of 2022, the Siacoin price might hit its crucial resistance level of $0.012.Digital Coin Price

According to our Siacoin forecast, the SC digital coins would have reached a new all-time high at $0.10, which is around 50x its crypto market value at current prices.Crypto Coin Society

Siacoin has been showing a rising tendency over the past year, and the trend has continued since early January. As per the latest news updates of the cryptocurrency market and Siacoin forecast, the token price may cross $0.02015 by the end of 2022. Retailers should invest in Siacoin as a part of their long-term investments.GOV Capital

Siacoin (SC) Price Prediction for 2022-2026

Siacoin Price Predictions

Currently, SC trades around $0.0092 with a market capitalization of $461,438,663 with a circulating supply of 49,947,052,992 SC and a 24 hr. trading volume of $28,342,706.17.

The crypto predictions of various experts do not deter Siacoin from outperforming its rivals by any means. Sia team has set higher benchmarks for itself notwithstanding.

Technical Analysis of SC’s Price Action

The SC price can cross its current all-time high soon if it would boost its developments in terms of cloud storage as per our price prediction. Siacoin has great potential to resolve the drawbacks of the centralized system due to its multiple benefits, like a user-friendly interface. It can become the foremost cloud storage provider. Since last January, SC tokens have been trading with the boosted sentiment. On April 17, the SC price crossed its previous resistance level of $0.058 per one Siacoin. However, after that, the coin faced a sharp decline.