The price of Siacoin (SC) rose by almost 25% after it was listed on one of the popular cryptocurrency exchanges, Kraken. Trading starts today with 4 pairs. In addition, Siacoin also announced the hiring of a new core developer.
Siacoin price increases
Over the past 24 hours, the price of Siacoin has risen markedly by almost a quarter against the US dollar. The lowest price was at $ 0,001622 and it reached a daily high of $ 0,00218 and closed at $ 0,00197. Trading volume also increased significantly from $ 4 to $ 234 per day.
Siacoin was also able to significantly increase against bitcoins, receiving a total of 24%.
At the time of this writing, all market capitalization SC was $ 84. However, despite the fact that the daily increase of 000% is significant, the price of one spacecraft is noticeably lower than its historical maximum. During the parabolic bull run in late 000 and early 25, Siacoin reached ATH $ 2017 on January 2018, 6. To put this in perspective, SC has lost over 2018% of its value since then.
The expected response?
The recent price pump may be largely due to two recent announcements. Company said that hired a new core developer, hoping this is a step towards improving their product with file sharing and a full CDN. While this appears to be a significant change within the project itself, other news may have had a greater impact on the price movement.
One of the most popular cryptocurrency exchanges, Kraken, announced on the listing of Siacoin, stating that trading will begin today around 13:30 UTC. There will be 4 trading pairs available:
- SC / USD
- SC / EUR
- SC / XBT
- SC / ETH
Waves of this kind are usually seen when a specific coin is listed on a major crypto exchange. Dogecoin experienced a similar pump when it was originally listed on Binance. However, just a few days later, the price bounced back to the same levels as before, and even more in the following weeks.
We have yet to figure out whether Siacoin’s recent move will be sustainable or whether it will recover after the hype disappears.