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SiaCoin Price Prediction: Should You Invest In SC?

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SiaCoin price prediction

Some SiaCoin price prediction made earlier this year claimed that SC will hit $1 by the year’s end. At this point, this seems very unlikely. However, it is not impossible for such growth to occur at some point in 2019. The coin itself has a lot of potential on its own, as it seems to be rather immune to high rates of volatility.

SiaCoin (SC) is one of a few altcoins that have attracted a lot of attention throughout 2018. This is a project that aims to create a decentralized cloud storage services platform. In fact, many are already calling it the Airbnb of cloud storage.

Simply put, the project allows users to rent the unused hardware space to other users. Those who require additional storage can use this space to store their data on other people’s computers. Of course, all of this is done under heavy encryption that can ensure that the stored files remain safe and private. Only the person who uploaded the files can access them in their entirety, and decrypt them.

While the network has been developing for a while now, it still doesn’t offer numerous different features that users got used to on Google Drive, Dropbox, and similar services. However, the project continues to grow and develop, while at the same time, it continues to gain more and more supporters.

The ability to store files on a cloud service has grown to be of great importance on the modern-day internet. However, when using centralized services such as Google Drive, users can never be completely sure that their information is truly safe. This is why this project is so popular, and why many are hoping to see it achieve its full potential as soon as possible.

SiaCoin price prediction

Considering how much potential this project has, a lot of people are interested in how this will reflect on SC’s price. Many investors are interested in the coin, as well as in this project in general, which is why Siacoin price predictions are in great demand.

At the time of writing, SiaCoin’s price is at $0.006482, and the coin has experienced a drop of 0.11% in the last 24 hours. While this is a very low price at the moment, it is also seen by many as an opportunity to get a lot of SC coins for cheap.

SiaCoin achieved its highest price yet in January when it managed to almost reach $0.10. However, at that point, the coin was still new, and barely known to a small group of investors. Since then, the project received a lot more attention and support, and its community grew exponentially. Unfortunately, most of its development occurred throughout 2018, which was bearish for most of its length, so the coin never got an opportunity to properly grow.

Ever since the price drop in January, SC has only had one large spike in May. Other than that, the coin has been very stable, with only the slightest price shifts.

Other price predictions aim further into the future, making different assumptions for the years 2020, 2023, and alike. However, these predictions are not reliable due to several factors. For example, the entire market needs to be considered, instead of making calculations based on a single coin’s potential. This year has been proof of that, with all coins going up or down together.

Apart from that, the crypto space remains unstable and unregulated, and it cannot be expected that it will follow any schedule. The most realistic predictions see SiaCoin reaching the value of $0.0137 to $0.025 in 2019. In case of a proper bull run, its value might easily surpass these expectations. If not, this is what most experts agree on.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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Altcoins

Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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