Factom (FCT) Trading 2.9% Lower This Week
Factom (CURRENCY:FCT) traded down 0.4% against the dollar during the 1-day period ending at 14:00 PM E.T. on June 2nd. Factom has a market capitalization of $77.70 million and approximately $534,296.00 worth of Factom was traded on exchanges in the last day. In the last seven days, Factom has traded 2.9% lower against the dollar. One Factom coin can currently be bought for $8.08 or 0.00093178 BTC on major exchanges including Cryptopia, BCEX, Poloniex and Bittrex.
Here is how related cryptocurrencies have performed in the last day:
- XRP (XRP) traded 2.6% higher against the dollar and now trades at $0.44 or 0.00005071 BTC.
- Binance Coin (BNB) traded 0.9% higher against the dollar and now trades at $33.14 or 0.00382298 BTC.
- Bitcoin SV (BSV) traded 0.1% higher against the dollar and now trades at $189.26 or 0.02183016 BTC.
- Tether (USDT) traded up 0.1% against the dollar and now trades at $1.00 or 0.00011575 BTC.
- Stellar (XLM) traded 4.5% higher against the dollar and now trades at $0.14 or 0.00001582 BTC.
- TRON (TRX) traded down 2.4% against the dollar and now trades at $0.0374 or 0.00000431 BTC.
- NEO (NEO) traded 0.5% higher against the dollar and now trades at $13.94 or 0.00160757 BTC.
- COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.
- Crypto.com Chain (CRO) traded 6.9% higher against the dollar and now trades at $0.0778 or 0.00000898 BTC.
- Basic Attention Token (BAT) traded up 1.7% against the dollar and now trades at $0.36 or 0.00004160 BTC.
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. “
Factom Coin Trading
Factom can be bought or sold on the following cryptocurrency exchanges: Bit-Z, Poloniex, Cryptopia, Bittrex, Upbit 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 Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Factom using one of the aforementioned exchanges.
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