With the increasing demand for cloud storage services, Siacoin (SC) appears to be getting a lot of attention at a time when the crypto investors are shying away from the market. With other traditional platforms getting out of reach for the ordinary cloud computing user, the coin is taking a huge chunk of the market previously dominated by Google Drive and iCloud.
Binance has just announced that it is listing Siacoin (SC) on its exchange and this will increase the coins reach, appeal and spend-ability. The good news has been received with a lot of enthusiasm leading to the SC price surge in a market where majority of digital coins and tokens are still trading on the red.
Siacoin (SC) Captures Binance Attention
Siacoin has entered the market with one this in mind; a platform with superior technology, secure environment and fast transactions that come with a pocket friendly fee. This has attracted the attention of Binance. On SC listing the announcements says:
“Binance will open trading for SC/BNB, SC/BTC and SC/ETH trading pairs at 2018/06/14 11:00 AM (UTC). Users can now start depositing SC in preparation for trading.”
This means a lot for Siacoin as it seeks to position itself in the market as the leader in cloud storage. Getting paired with the two leading coins in the market will give additional confidence and trust on the steadily growing coin. Binance has been loose in the market listing most coins and tokens that already comply with local regulations a move poised to bring in sanity in the market and entice institutional investors.
Binance is among the most trusted exchanges in the market but also the best volume mover. Speculations have been in the media about the listing and this appears to be the final confirmation. Siacoin has bullish in the market and the listing will boost it volumes.
Siacoin Past Woes
Siacoin (SC) team must have taken a cue from their previous delisting from Cryptopia due to its low volumes. Cryptopia has the highest number of Altcoins trading on its platform and like Binance, it focused on partners that give them volumes.
Getting listed on another volume focused outfit is Siacoin’s game changer. This appears like a good move for the coin towards achieving its future goals and in adherence to their roadmap. This is a major boost for a coin that seeks to bring sanity in the cloud storage industry and democratize the sector.
To date, SC is listed on HitBTC, UpBit and Poloniex and its addition to Binance means a lot to the coin holders and the exchange. This will boost volumes for the two partners giving the investor added advantage to speculate. The surge in SC price immediately after the announcement is a good sign of what is expected.
Latest Siacoin (SC) Price Movement
Although it is still early to predict SC price and its effect in the global markets, the bullish surge is a relief to the coin holder and they are expecting it to hold longer. The coin appears to have gained 14.92% against the dollar and 16.24% to Bitcoin. This is an isolated case and is set to die with the listing hype and might only hold in the short term. SC was trading at $ 0.014690 at the time of writing and a dip appears to be forming in the coming 72hours. This makes it hard for the ardent investor to stake on the coin while the entire market is still fighting to get back afloat.
However the listing will have far reaching implications given the pairings and the volumes Binance is capable of bring to Siacoin (SC). It is also a good time for the dare-devils in the markets to buy and HODL.