Namecoin (NMC) Achieves Market Capitalization of $14.73 Million

Namecoin (NMC) traded up 2% against the U.S. dollar during the 24-hour period ending at 0:00 AM Eastern on August 5th. One Namecoin coin can currently be purchased for about $1.00 or 0.00004309 BTC on popular cryptocurrency exchanges. Namecoin has a market capitalization of $14.73 million and $27,102.00 worth of Namecoin was traded on exchanges in the last day. During the last seven days, Namecoin has traded 18.9% lower against the U.S. dollar.

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

  • Bitcoin (BTC) traded 0.1% higher against the dollar and now trades at $23,194.94 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded up 1.3% against the dollar and now trades at $139.81 or 0.00602773 BTC.
  • Bitcoin SV (BSV) traded 0.2% higher against the dollar and now trades at $61.70 or 0.00265995 BTC.
  • Alpha Coin (ALPHA) traded up 14.4% against the dollar and now trades at $0.0264 or 0.00000114 BTC.
  • Steem (STEEM) traded up 1.1% against the dollar and now trades at $0.26 or 0.00001121 BTC.
  • Coin of champions (COC) traded 2.4% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.
  • Counterparty (XCP) traded 4.3% higher against the dollar and now trades at $3.62 or 0.00015625 BTC.
  • ICC (ICC) traded 8.9% lower against the dollar and now trades at $0.0274 or 0.00000115 BTC.
  • Bogged Finance (BOG) traded 19.1% higher against the dollar and now trades at $0.45 or 0.00001469 BTC.
  • ArenaPlay (APC) traded down 1.3% against the dollar and now trades at $0.65 or 0.00002794 BTC.

Namecoin Profile

Namecoin (CRYPTO:NMC) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. Its genesis date was April 19th, 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. “

Buying and Selling Namecoin

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 GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Namecoin using one of the exchanges listed above.

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