If you want to know that when will Siacoin reach $1 or what is the potential of Siacoin? Here we will try to analyze the power of this trending coin.
Today, Siacoin is one of the most popular and trending altcoins. Siacoin is a decentralized Cloud Storage platform based on blockchain technology. Sia offers the best affordable cloud storage services in the market. As per the project’s website, there is no need to create an account, server, or third-party involvement.
The aim of Siacoin is to create the most efficient, user-friendly, cheap, and secure storage platform. The Sia network is one of the best crypto networks that provide such services. Siacoin is the native token of Sia blockchain technology.
Will Siacoin reach $1?
Sia has gained great popularity in recent months. By adoption and partnership, Sia will surely rise in upcoming years. In 2018, Siacoin already hit the $0.1 cap and Sia can regain this position again.
As we can see, Siacoin can hit the $0.1 cap soon in the upcoming months in 2022. However, no one can predict cryptos with 100% accuracy as its highly volatile. As per our price prediction analysis, we see no possibility for Siacoin to reach $1 in a short-term period.
If you’re looking for the $1 cap, as per our analysis, Siacoin can hit $1 in the year 2025 if everything goes smoothly. But maybe there can be a sudden spike in Sia like Dogecoin then surely it can reach someday $1 even before 2025.
There is no doubt that the Siacoin has a huge potential, with partnerships and innovations that can increase the number of investors and value of this coin. Many crypto analysts and traders believe that Siacoin can be a great investment in the long run.
If you want to know more about when will Siacoin reach $1, don’t miss to check Siacoin forecast in the year by year prediction data: Siacoin Price Prediction 2021, 2022, 2025, 2030
How Siacoin (SC) works?
The Sia network uses Proof-of-Work (PoW), similar to Bitcoin. The circulating and total supply of Siacoins is around 47.8 billion SC. But there is another token that the Sia network is using, its Siafunds (SF). SF are security tokens that are used to grow the network by incentivizing its owners by generating revenue.
Owners of SF earn 3.9% of every transaction fee required for storing data. This comes from rent storage fees, bandwidth costs, or host collateral. There are only 10,000 SF in circulation, and 8,000 are owned by the Sia network team, Nebulous.
Siacoin is more about privacy when compared to traditional data storage options. Also, Sia cloud storage is much cheaper than the likes of Google, Amazon, or Microsoft. Some external storage applications or projects developed on the Sia network have made data storage possible for Sia. The main ones are Filebase, Skynet, Nextcloud, etc.