Factom (CURRENCY:FCT) traded 5.5% lower against the US dollar during the twenty-four hour period ending at 19:00 PM Eastern on June 8th. Over the last week, Factom has traded down 25.3% against the US dollar. Factom has a total market cap of $58.84 million and approximately $2.17 million worth of Factom was traded on exchanges in the last day. One Factom coin can currently be bought for approximately $6.11 or 0.00076793 BTC on major cryptocurrency exchanges including Upbit, Bit-Z, BCEX and Poloniex.
Here is how other cryptocurrencies have performed over the last day:
- XRP (XRP) traded down 2.2% against the dollar and now trades at $0.41 or 0.00005200 BTC.
- Binance Coin (BNB) traded 1.3% higher against the dollar and now trades at $32.14 or 0.00403710 BTC.
- Bitcoin SV (BSV) traded down 3.3% against the dollar and now trades at $197.11 or 0.02476295 BTC.
- Tether (USDT) traded 0.2% lower against the dollar and now trades at $1.00 or 0.00012617 BTC.
- Stellar (XLM) traded 0.7% lower against the dollar and now trades at $0.13 or 0.00001588 BTC.
- TRON (TRX) traded down 3.7% against the dollar and now trades at $0.0326 or 0.00000409 BTC.
- NEO (NEO) traded down 1.7% against the dollar and now trades at $12.10 or 0.00151971 BTC.
- COZ (COZ) traded up 26.7% against the dollar and now trades at $0.22 or 0.00004541 BTC.
- Crypto.com Chain (CRO) traded 0.3% lower against the dollar and now trades at $0.0645 or 0.00000811 BTC.
- Basic Attention Token (BAT) traded down 0.8% against the dollar and now trades at $0.34 or 0.00004250 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 purchased on the following cryptocurrency exchanges: BCEX, Upbit, Cryptopia, Bit-Z, Poloniex and Bittrex. It is usually not currently possible to buy alternative cryptocurrencies such as Factom directly using U.S. dollars. Investors seeking to acquire Factom should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Factom using one of the exchanges listed above.
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