Factom Reaches Market Cap of $38.56 Million (FCT)

Factom (CURRENCY:FCT) traded 4.3% lower against the U.S. dollar during the twenty-four hour period ending at 0:00 AM E.T. on August 25th. Factom has a market cap of $38.56 million and $70,617.00 worth of Factom was traded on exchanges in the last 24 hours. One Factom coin can now be bought for $3.97 or 0.00038439 BTC on major exchanges including Bit-Z, Poloniex, Upbit and Bittrex. During the last seven days, Factom has traded up 23.3% against the U.S. dollar.

Here is how similar cryptocurrencies have performed during the last 24 hours:

  • XRP (XRP) traded up 1.1% against the dollar and now trades at $0.27 or 0.00002641 BTC.
  • Binance Coin (BNB) traded 0.5% lower against the dollar and now trades at $26.26 or 0.00253685 BTC.
  • Tether (USDT) traded up 0.2% against the dollar and now trades at $1.00 or 0.00009699 BTC.
  • Bitcoin SV (BSV) traded up 1.1% against the dollar and now trades at $134.08 or 0.01296007 BTC.
  • Stellar (XLM) traded up 0.8% against the dollar and now trades at $0.0693 or 0.00000670 BTC.
  • TRON (TRX) traded down 0.5% against the dollar and now trades at $0.0178 or 0.00000172 BTC.
  • Chainlink (LINK) traded down 3.3% against the dollar and now trades at $2.09 or 0.00020233 BTC.
  • NEO (NEO) traded down 1.6% against the dollar and now trades at $9.78 or 0.00094521 BTC.
  • COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.
  • Crypto.com Chain (CRO) traded down 1.2% against the dollar and now trades at $0.0425 or 0.00000410 BTC.

Factom Coin Profile

Factom’s genesis date was October 5th, 2015. Factom’s total supply is 9,707,938 coins. Factom’s official Twitter account is @factom and its Facebook page is accessible here. The Reddit community for Factom is /r/factom and the currency’s Github account can be viewed here. The official website for Factom is factom.org.

According to CryptoCompare, “Will Factoids have their own blockchain? Ultimately Factoids will be implemented on their own Chain in Factom. For the crowd sale, other options are possible. How are Factoids created? Two ways. Factoids will be created as a part of the crowd sale. Secondly, Factoids will be created at a fixed rate and paid to the Factom Servers and Audit Servers for their work running the system, and to pay other incentives. Is there a separate Proof of Work or other consensus mechanism for factoids, independent of factom? No. That said, the Factom chain and the Entry chain are managed by the Factom Servers (they are the application using these chains) so they validate them in real time. No invalid entries can be placed in these chains. How do factoids get sent back to the protocol? Is it a kind of burn?   No. The Entry Credits are burned. Entry Credits are non transferable. They can only be used to buy entries. But when they DO buy entries, the Factoid in the protocol that was used to buy the Entry Credits is released. The amount of Factoids varies since the price of Entry Credits per Factoid varies.   The Factoid paid out is calculated by dividing the total number of Factoid in the protocol by the number of outstanding Entry Credits.   The number of Factoids in the protocol and the number of outstanding Entry Credits are all computable from the Entry Chain and the Factoid Chain.   “

Buying and Selling Factom

Factom can be bought or sold on these cryptocurrency exchanges: Bittrex, Poloniex, BCEX, Bit-Z, Upbit and Cryptopia. It is usually not currently possible to purchase alternative cryptocurrencies such as Factom directly using U.S. dollars. Investors seeking to trade Factom should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Factom using one of the exchanges listed above.

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