Factom (FCT) Hits Market Capitalization of $17.54 Million

Factom (CURRENCY:FCT) traded up 0.5% against the U.S. dollar during the 24 hour period ending at 22:00 PM Eastern on March 26th. One Factom coin can currently be bought for approximately $1.94 or 0.00028815 BTC on major cryptocurrency exchanges including BCEX, Upbit, Cryptopia and Bittrex. During the last seven days, Factom has traded 2.9% lower against the U.S. dollar. Factom has a total market cap of $17.54 million and $434,736.00 worth of Factom was traded on exchanges in the last 24 hours.

Here’s how other cryptocurrencies have performed during the last 24 hours:

  • XRP (XRP) traded 7.7% higher against the dollar and now trades at $0.17 or 0.00002578 BTC.
  • Tether (USDT) traded down 0.4% against the dollar and now trades at $1.00 or 0.00014775 BTC.
  • Bitcoin SV (BSV) traded down 0.2% against the dollar and now trades at $172.67 or 0.02558190 BTC.
  • Binance Coin (BNB) traded 6% higher against the dollar and now trades at $13.10 or 0.00194141 BTC.
  • InnovativeBioresearchClassic (INNBCL) traded 16% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
  • TAGZ5 (TAGZ5) traded 1.1% higher against the dollar and now trades at $2.84 or 0.00042006 BTC.
  • Stellar (XLM) traded up 4.2% against the dollar and now trades at $0.0424 or 0.00000627 BTC.
  • Chainlink (LINK) traded 2% higher against the dollar and now trades at $2.30 or 0.00034139 BTC.
  • TRON (TRX) traded 3.7% higher against the dollar and now trades at $0.0118 or 0.00000175 BTC.
  • COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.

About Factom

Factom’s launch date was October 5th, 2015. Factom’s total supply is 9,020,850 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 these cryptocurrency exchanges: BCEX, Bit-Z, Bittrex, Upbit, Poloniex and Cryptopia. It is usually not currently possible to buy alternative cryptocurrencies such as Factom directly using U.S. dollars. Investors seeking to trade Factom should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Factom using one of the aforementioned exchanges.

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