Siacoin Price Prediction 2024-2033: Will SC break the $1 resistance?

Siacoin Price Prediction 2024-2033

The selling point of the Siacoin platform is that network users rent space on a peer-to-peer (P2P) basis, lowering their pay rates. Users retain private keys to access and control their data files. Payments on the Sia platform are made with the SC token. This Siacoin Price Prediction will help guide you on including SC in your crypto portfolio. Will Siacoin reach $5?  

How much is SC worth?

The current Siacoin price (at press time) is $0.007606, with a 24-hour trading volume of $18.209 million. Siacoin is up 1.46% in the last 24 hours. The current CoinMarketCap ranking is #125, with a live market cap of $426.051 million. It has a circulating supply of 56,011,563,129 SC coins and a maximum supply of 56,167,545,000 SC coins.

Siacoin price analysis: Will SC/ USD go up?

TL; DR Breakdown

• At press time, SC was down 87.40% in the last 12 months
• Siacoin (SC) fell by 50% in March 2023 following its delisting on BInance.
• SC’s decline has decelerated over the previous two months.

Siacoin (SC) rose from $0.003 in October 2022 to $0.007 in January 2024, partly influenced by the crypto market macroeconomics.

Siacoin price analysis 1-day chart: SC/ USD momentum drops

SC was up 220.12% in the last 12 months at press time and 21.49% over the previous 30 days. 

The MACD indicator shows the coin registers little momentum, with the 14-day relative strength index (RSI) at 55.56.

Recent News

Sia has recently launched renterd 1.0, the advanced successor to siad, marking a significant development in decentralized storage. renterd introduces a modular architecture, enhancing scalability and user-friendliness with separate Bus, Worker, and Autopilot modules. It addresses siad’s downtime issues by supporting SQL databases like SQLite and MySQL for continuous operation. The new web-based user interface enhances accessibility and includes a sophisticated alert system for real-time monitoring. Notably, renterd introduces S3 compatibility, broadening its use cases, and incorporates efficient storage management features like built-in upload-packing and contract pruning. This launch signifies a major leap forward for Sia, promising further advancements in decentralized storage technology.

Siacoin Price Prediction 2024 – 2033

Siacoin Price Prediction by Cryptopolitan

Siacoin Price Prediction 2024 

SC price prediction for 2024 is a maximum price of $0.0072. The coin’s minimum price will be $0.0063 and an average price of $0.007. 

Siacoin Price Prediction 2025

SC price prediction for 2025 is a maximum price of $0.0118. The coin’s lowest price will be $0.0099, and the average trading price of the coin is $0.0103. 

Siacoin Price Prediction 2026

SC price prediction for 2026 is a maximum of $0.0169. The minimum price the coin will have by the end of 2026 will be $0.015, while its average trading price will be $0.0154. 

Siacoin Price Prediction 2027

SC token price prediction for 2027 is a maximum price of $0.0259 with a minimum price of $0.0217. We also expect the coin’s average trading price to be $0.0223.

Siacoin Price Prediction 2028

SC coin price prediction 2028 is a maximum price of $0.0371. The minimum price of the coin by 2028 will be $0.031; the average trading price is forecasted to be $0.0321.

Siacoin Price Prediction 2029

SC price prediction 2029 is a maximum price of $0.0543 with an average trading price of $0.0454. The coin will have the lowest price at $0.0438.

Siacoin Price Prediction 2030

Siacoin cryptocurrency prediction for 2030 is a maximum price of $0.0781; the coin’s lowest price is $0.0635. The average trading price of the coin will be $0.0653. 

Siacoin Price Prediction 2031

Siacoin’s price prediction for 2031 is a maximum trading price of $0.1102, with an average trading price of $0.0948. The minimum price of the coin will be $0.0916. 

Siacoin Price Prediction 2032

Siacoin’s price prediction for 2032 is a maximum trading price of $0.1564, with an average trading price of $0.1338. The minimum price of the coin will be $0.1291. 

Siacoin Price Prediction 2033

SC’s price prediction for 2033 could be a maximum price of $0.2286. The minimum price is $0.1835, and the average trading price of the coin will be $0.1888. 

Siacoin price prediction by Walletinvestor

Wallet Investor uses technical analysis and machine learning to forecast SC prices. The analysis indicates ‘s past performance index rating as A+; it adds that SC would make a bad one-year investment. The expected average price will be $0.00149. The return on investment (ROI) will be -80.06% in 2025. In 2026, the ROI will be -85.80%; in 2027, it will be -84.12%; in 2028, it will be -45.30%. According to the analysis, the SC price bearish trend continues over the entire period.

Siacoin price prediction by CryptoPredictions

The site scans a given coin’s exchange rates and other historical market data and uses these data to provide a Siacoin price forecast. Their SC price forecasts 2024 are $0.008649 in June and $0.00830 in December.

In 2025, SC will trade at an average price of $0.008223 in January and $0.008221 in December. In 2026, it will sell at an average price of $0.008353 in January and $0.009781 in December.

Siacoin price prediction by Digitalcoinprice

Siacoin cryptocurrency will be on a bullish trend from 2024 to 2033; the maximum value of SC for the entire period will be $0.15. In 2025, it will trade at a mean price of $0.0186. It will reach a maximum price of $0.0191 and a minimum of $0.0162. In 2027, it will trade at a mean price of $0.0318. It will reach a maximum price of $0.034 and a minimum of $0.029. In 2033, it will trade at a mean price of $0.15 It will reach a minimum of $0.14.

Siacoin Price Predictions by Industry Influencers

Algorand price forecast by Binance, the world’s largest exchange by trading volume, indicates a bullish price projection; ALGO will average at $0.007522 in 2024, $0.008293 in 2026, and $0.01008 in 2030.

Siacoin Overview

Siacoin Price History

While past performance is not a reliable indicator of future results, understanding the historical performance of a cryptocurrency can provide valuable context for making or interpreting price predictions. Siacoin (SC) entered the open market in the summer of 2015 with an initial value of approximately $0.00004. For the first few years, its price remained relatively stable. However, during the cryptocurrency bubble of late 2017, SC’s value surged, reaching an all-time high of $0.1117 on January 6, 2018.

Following this peak, SC’s value declined as the market experienced a downturn, commonly called the crypto winter, with its price stabilizing around $0.01. The token did not experience significant fluctuations until early 2021 when the cryptocurrency market rallied, and SiaCoin achieved a notable high of around $0.05 in April. The news that its parent company, Nebulous, was rebranding as Skynet, influenced this increase.

Afterward, SC’s value decreased below $0.01 during the summer. Later in the year, it experienced a brief surge, peaking at over $0.025 in November before ending the year at $0.01518. Although SC showed some progress in 2021, 2022 was predominantly a downward trend for the token, dropping its value below $0.01 in late April. The year was marked by several market crashes, leading SC to close at $0.002258, representing a significant annual loss.

In contrast, 2023 witnessed a slight improvement for SC. The token reached a high of $0.008 in December following a bull run that began in mid-October. Since then, it has been trading sideways in 2024.

Source: https://coinstats.app/coins/siacoin/

More about the Sia

What is Sia

Sia is a decentralized storage network that enables users to store files without relying on a centralized entity. The concept of Siacoin is similar to Google Drive and Dropbox, but instead, the network users rent storage space in a peer-to-peer network. The data is encrypted and distributed on the network. The user has the private keys to access and fully control their data.

The technology makes it possible to encrypt data for safety reasons, split it, and share it in nodes. The information is stored safely and even reassembled. This technology is similar to what is used by the eminent cryptocurrency.

There are fees involved in this storage system for keeping and sharing things, like hosting fees. These charges can be paid using the native currency of the platform.

All these transactions can be done using smart contracts. With these smart storage contracts, the whole process can be done without involving a third party. It will work with the set of rules and automatically execute itself.

Sia Key Features

Sia is a blockchain-based platform that offers decentralized cloud storage. Here are some of its key features:

• Siacoin (SC): This is the main currency used on the Sia platform. It’s used to facilitate transactions for storage space on the network.
• Siafunds (SF): This is another token type on the Sia network. It’s a security token that entitles holders to a portion of all storage revenue generated on the network.
• Decentralized Storage: Sia connects users needing storage with those with excess storage capacity. When a file is uploaded, it’s split into multiple parts, encrypted, and distributed to various hosts via smart contracts.
• Peer-to-Peer (P2P) Storage: Sia’s primary service is private cloud storage. The company claims that Siacoin is 90% cheaper than traditional cloud storage platforms.
• File Contracts: Each new storage agreement requires the renter to initiate a file contract with a pre-paid amount of Siacoins.

Should you invest in Siacoin (SC) now?

You may be considering investing in the Sia blockchain and wondering if it is a good investment. Well, you are not alone.

However, you have to consider some factors before leaping. It is advisable to consider the advantages and shortcomings of this platform. Please look into the possible price movement we highlighted above.

Since there are others like it available and open to users, you might consider other options better as it might have to overcome a high resistance level to rise. However, given its advantages, you may stick with this one.

Siacoin offers a decentralized storage system that is an advantage compared to centralized storage. Blockchain technology has many uses that have put it on the global map with no sign of descending the height it occupies on the ladder.

However, its cloud computing and storage capabilities have been underexplored even though they are essential. Its advantages are enough reasons to make it a part of everyday usage. Decentralized data storage is strong in some areas where the centralized data storage system does not measure.

Siacoin (SC) Benefits

• More secure decentralized storage,

For one thing, the decentralized storage system is more secure than the centralized one. For instance, if Google or Amazon S3, centralized storage systems, are exposed to malicious attacks, the effect will be devastating. The financial and personal data will be compromised, and the consequences might be grave depending on the information they contain.

However, with the decentralized option, security is tighter. The blockchain-based storage encrypts the information, partitioning, sharing, and storing the bits in multiple nodes. This way, the only person who has access to the sensitive information is the person who has the encryption key, and it is this person who can view all the data.

This is one way the blockchain system has improved data security and guaranteed preserved information. It drastically reduces the occurrences of compromised information and its consequences.

• More efficient; saves time and energy

Another reason decentralized storage is an excellent choice at any time is its efficiency. Transacting data is more efficient as it saves you time and energy. You can have a complete transaction done quickly, unlike when the whole system was handled in the traditional setting.

Also, the blockchain system is cheaper to operate. With blockchain storage, you have to pay 2 euros per terabyte monthly. With Apply, you have to pay 5 euros per 2 terabytes monthly. The blockchain system can buy your storage space with the native currency or digital coin.

• Transparent and autonomous

The system’s decentralization makes it a better option for its transparency and autonomy. It gives authority to the users such that they do not need third-party prying into their businesses. The information stored in the nodes cannot be easily compromised compared to the centralized one.

Siacoin (SC) Disadvantages

Despite these pros, there are cons that the decentralized storage system presents, and you have to consider them as well. The blockchain network will need a minimum number of digital coins to access storage in the decentralized system. The network hash rate and issuance are other areas of concern.

After looking at both the pros and cons, you have to decide which way to go. However, it is necessary to state that the advantages of the decentralized storage system outweigh its shortcomings. Or, how else do we explain the surge for it even if we have had the traditional system with us all along?

What’s a Sia hardfork?

A software project like Sia can be forked and improved without creating a new blockchain and coin. Those with skills can improve the official wallet software by making a better user interface. There were nearly 500 forks of the basic Sia project on GitHub before Sia moved to their own self-hosted Gitlab. Many of those forks are old versions of Sia and do not create a new blockchain or coin.

Any third party can fork the Sia blockchain and create a new coin. Whether or not that version of Sia would gain any support is questionable, as it would separate all hosts and renters between the two networks – hosts and renters on the third-party fork couldn’t communicate with hosts and renters on the main Sia project. The resulting third-party Sia storage product may have limited utility unless many users switch over from the official Sia project.

How to buy Siacoin on Binance

To purchase Siacoin (SC) on Binance, you can follow these steps:

1. Register for a Binance account: You’ll need to sign up and verify your identity on the Binance platform before you can start trading.
2. Decide on your purchase method: Navigate to the “Buy Crypto” section on the Binance website to see the options available for buying Siacoin in your country. You might want to consider purchasing a stablecoin like USDT first for better compatibility and then use that to buy Siacoin.
   • Credit/Debit Card: This is a convenient option for new users. Binance accepts both Visa and MasterCard.
   • Bank Transfer: You can transfer money from your bank account to Binance and use those funds to buy Siacoin.
   • Third-Party Payment: Binance offers several third-party payment channels. Check the Binance FAQ to see which ones are available in your region.
3. Confirm your payment details and fees: You have 60 seconds to confirm your order at the current price. After that, your order will be recalculated based on the current market price.
4. Store or use your Siacoin on Binance: After purchasing, you can store your crypto in your crypto wallet or keep it in your Binance account.

Conclusion

Despite conflicting projections for the SC price, there is general agreement that the coin’s value will rise in the long run. So, it can be considered a good investment if you’re looking for long-term profits.

But remember that forecasts are frequently off, so before buying cryptocurrencies, conduct your own research and only invest what you can afford to lose. No matter the predictions, the price of a cryptocurrency might go up and down.