Namecoin (NMC) Trading 27.3% Higher This Week

Namecoin (CURRENCY:NMC) traded up 5% against the dollar during the 1-day period ending at 17:00 PM E.T. on August 3rd. Namecoin has a market capitalization of $11.32 million and approximately $7,888.00 worth of Namecoin was traded on exchanges in the last day. In the last seven days, Namecoin has traded 27.3% higher against the dollar. One Namecoin coin can currently be bought for $0.77 or 0.00007087 BTC on major exchanges including Livecoin, BX Thailand, Poloniex and Bittylicious.

Here’s how similar cryptocurrencies have performed in the last day:

  • Bitcoin (BTC) traded 3.6% higher against the dollar and now trades at $10,839.50 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded up 2.6% against the dollar and now trades at $332.32 or 0.03064834 BTC.
  • Steem (STEEM) traded down 2% against the dollar and now trades at $0.22 or 0.00002071 BTC.
  • Unobtanium (UNO) traded 1.3% lower against the dollar and now trades at $120.32 or 0.01109684 BTC.
  • Counterparty (XCP) traded 7% lower against the dollar and now trades at $2.09 or 0.00019284 BTC.
  • Crown (CRW) traded up 0.2% against the dollar and now trades at $0.0751 or 0.00000693 BTC.
  • Terracoin (TRC) traded 3.4% lower against the dollar and now trades at $0.0332 or 0.00000306 BTC.
  • CHIPS (CHIPS) traded flat against the dollar and now trades at $0.0205 or 0.00000392 BTC.
  • Zetacoin (ZET) traded up 2.8% against the dollar and now trades at $0.0019 or 0.00000018 BTC.
  • UnbreakableCoin (UNB) traded flat against the dollar and now trades at $0.11 or 0.00001757 BTC.

Namecoin Profile

Namecoin is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It was first traded on April 18th, 2011. Namecoin’s total supply is 14,736,400 coins. The official website for Namecoin is www.namecoin.org. The Reddit community for Namecoin is /r/namecoin and the currency’s Github account can be viewed here. Namecoin’s official Twitter account is @namecoin and its Facebook page is accessible here.

According to CryptoCompare, “It is based on the code of bitcoin and uses the same proof-of-work algorithm. It is limited to 21 million coins. Each Namecoin record consists of a key and a value which can be up to 520 bytes in size. Each key is actually a path, with the namespace preceding the name of the record. The key d/example signifies a record stored in the DNS namespace d with the name example and corresponds to the record for the example.bit website. The content of d/example is expected to conform to the DNS namespace specification. The current fee for a record is 0.01 NMC and records expire after 36000 blocks (~200 days) unless updated or renewed. Namecoins used to purchase records are marked as used and destroyed, as giving the fee to miners would enable larger miners to register names at a significant discount. “

Namecoin Coin Trading

Namecoin can be purchased on these cryptocurrency exchanges: Trade By Trade, Tux Exchange, Bittylicious, C-Patex, SouthXchange, YoBit, Livecoin, Bitsane, WEX, Cryptopia, Bleutrade, BX Thailand, Altcoin Trader and Poloniex. It is usually not currently possible to buy alternative cryptocurrencies such as Namecoin directly using US dollars. Investors seeking to trade Namecoin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Namecoin using one of the exchanges listed above.

Receive News & Updates for Namecoin Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Namecoin and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.