Complete Siacoin price prediction from 2023 to 2050 will be presented here, but before that let’s dive into the fundamentals of this crypto. Earn cryptocurrency without investment
What is Siacoin?
The DeFi ecosystem has been significantly easier thanks to the blockchain industry, which has also made it much simpler to store various cloud-based applications and data. While the majority of cryptocurrencies only focused on making transactions lightning fast and with low 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 way that ensures the data is available and easily accessible when needed while also utilizing the unused storage space.
Sia has created a sharing economy platform allowing users to rent out their unused hard drive storage and enabling those hard drives as the cloud-based exchange network. Siacoin Siacoin (SC) is the native utility token of the Sia platform. It can be traded on exchanges like Binance, OKEx, Huobi Global, etc. (SC) is the currency of the Sia network and renters pay hosts in exchange for storage. The Sia system allows users to designate unused hard drive storage as nodes within a decentralized blockchain.
The Sia network divides each file into 30 encrypted pieces, and for redundancy, each fragment is uploaded to a different host. Smart contracts are used to enforce the agreements made between uploaders and hosts, which are recorded in the Siacoin (SC) ecosystem. 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. Sia actually splits all data accumulated across the rented user’s devices preventing any single hard drive from holding all of your data. User data is instead split into 30 pieces each of which is encrypted and distributed to different hosts. This creates a helpful fail-safe.
The platform’s agreements and transactions are administered through smart contracts. Siacoin operates like an exchange in facilitating user payments for network storage. It aims to become the “backbone storage layer of the internet”. David Vorick first “conceived” the project in 2013 before its launch in June 2015.
If one hard drive fails the stored data is not compromised. The user who interacts with Siacoin holds a private key ensuring that they maintain full ownership of their files. Sia’s main strength is its distinction from traditional cloud-based storage groups, where centralized cloud servers are vulnerable to hacking. Sia’s unique system of a global user-based blockchain is a much stronger preventative for data loss. Sia is also an excellent choice for entrepreneurially-minded users. Users themselves determine the price for renting out their unused hard drives. Thus creating a miniature economic climate that ensures competitive prices and affordable rates.
Sia has received donations from prestigious companies like Bain Capital Ventures, Paradigm, and INBlockchain. Each storage-related transaction on the Sia network is subject to a 3.9% fee, which is distributed to owners of Siafund, the second cryptocurrency issued by the business, with Skynet owning the majority of the Siafund of 85%.
|Name of Project||Siacoin|
|Current Circulating Supply||53,353,552,991 SC|
|Total Supply||53,353,552,991 SC|
|All-Time High||$0.09834 (7 January 2018)|
Siacoin (SC) Fundamental Analysis: According to the most recent data gathered, Siacoin is currently worth $0.004271. Siacoin has a circulating supply of 53,353,552,991 SC and a $228,115,898 market value.
Throughout the previous week, the SC has dropped to about -12.73% and The cost of SC increased by +62.40% in a month. Despite having strong fundamentals, the coin won’t soon be a profitable investment because it has a history of exhibiting dangerous framing elements.
Siacoin Past Price Analysis
The Siacoin price started at $0.000041 at the time of listing on coinmarketcap and then start rising and went to all times high of $0.09834 (7 January 2018). Then the value gradually dropped to 0.001 and then in January 2021 it started rinsing again and went up to $0.045 and the current price is $0.004271 (22 Feb 2023).
Siacoin price prediction from 2023 to 2050
|Year||Minimum Price||Average Price||Maximum Price|
|siacoin price prediction 2023||$0.00379||$0.00821||$0.00934|
|siacoin price prediction 2025||$0.0125||$0.0148||$0.0155|
|siacoin price prediction 2030||$0.0415||$0.0430||$0.0446|
|siacoin price prediction 2040||$0.1400||$0.1500||$0.1600|
|siacoin price prediction 2050||$0.2700||$0.3000||$0.3300|
Vethor token FAQ
Today, Siacoin is trading at $0.004271 with a total market capitalization of $228,115,898.
Siacoin has long been regarded as a wonderful investment by many professionals and traders. Surprisingly, the value is climbing. As a result, it is assumed that the investment will generate a good return on long-term investment.
Based on the technical analysis and past history of this cryptocurrency the maximum possible predicted price is $0.0234.
If you invest in Siacoin (SC) today for the long term then an increase is expected. The price of SC could possibly rise to $0.0830 within the next 10 years.
Siacoin to reach $10 will need a marketcap of 514 Million Dollars. and the current marketcap is 228 million dollars. This is not possible in the near future.
Siacoin to reach $10 will need a marketcap of 514 Billion Dollars.
Siacoin to reach $100 will need a marketcap of 5.2 Trillion Dollars. Which is five times the total marketcap of the cryptocurrency industry. So Siacoin will never reach 100$.