Factom Market Capitalization Reaches $19.40 Million (FCT)

Factom (CURRENCY:FCT) traded up 5.6% against the U.S. dollar during the 1 day period ending at 22:00 PM Eastern on January 17th. One Factom coin can now be bought for approximately $2.20 or 0.00024620 BTC on popular cryptocurrency exchanges including Bit-Z, Cryptopia, Poloniex and BCEX. During the last week, Factom has traded up 6.8% against the U.S. dollar. Factom has a total market cap of $19.40 million and approximately $1.25 million worth of Factom was traded on exchanges in the last 24 hours.

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

  • Terra (KRT) traded flat against the dollar and now trades at $0.0009 or 0.00000010 BTC.
  • XRP (XRP) traded 3.7% higher against the dollar and now trades at $0.24 or 0.00002669 BTC.
  • Bitcoin SV (BSV) traded down 9.7% against the dollar and now trades at $284.25 or 0.03185556 BTC.
  • Tether (USDT) traded up 0.1% against the dollar and now trades at $1.00 or 0.00011214 BTC.
  • Binance Coin (BNB) traded up 2.5% against the dollar and now trades at $18.09 or 0.00202773 BTC.
  • TRON (TRX) traded up 1.9% against the dollar and now trades at $0.0177 or 0.00000198 BTC.
  • Stellar (XLM) traded up 9.5% against the dollar and now trades at $0.0586 or 0.00000657 BTC.
  • Chainlink (LINK) traded 4.8% higher against the dollar and now trades at $2.69 or 0.00030120 BTC.
  • Neo (NEO) traded 2.7% higher against the dollar and now trades at $11.71 or 0.00131201 BTC.
  • COZ (COZ) traded up 26.7% against the dollar and now trades at $0.22 or 0.00004541 BTC.

Factom Coin Profile

Factom was first traded on October 5th, 2015. Factom’s total supply is 8,832,954 coins. Factom’s official website is factom.org. 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.

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 purchased on the following cryptocurrency exchanges: Bittrex, Bit-Z, Poloniex, Upbit, Cryptopia and BCEX. It is usually not possible to buy alternative cryptocurrencies such as Factom directly using U.S. dollars. Investors seeking to trade Factom should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Factom using one of the aforementioned exchanges.

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