Factom Price Reaches $5.65 (FCT)

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Factom (CURRENCY:FCT) traded 18.3% lower against the US dollar during the 24 hour period ending at 14:00 PM E.T. on September 5th. Factom has a market cap of $49.37 million and approximately $501,093.00 worth of Factom was traded on exchanges in the last 24 hours. One Factom coin can currently be purchased for approximately $5.65 or 0.00081329 BTC on major exchanges including BCEX, Qryptos, Poloniex and Upbit. In the last seven days, Factom has traded down 4.9% against the US dollar.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

  • XRP (XRP) traded down 12.9% against the dollar and now trades at $0.29 or 0.00004206 BTC.
  • Stellar (XLM) traded 6.6% lower against the dollar and now trades at $0.21 or 0.00003080 BTC.
  • Tether (USDT) traded up 0.6% against the dollar and now trades at $1.01 or 0.00014479 BTC.
  • TRON (TRX) traded 14.3% lower against the dollar and now trades at $0.0219 or 0.00000316 BTC.
  • NEO (NEO) traded down 16.2% against the dollar and now trades at $20.72 or 0.00298543 BTC.
  • Binance Coin (BNB) traded 8.9% lower against the dollar and now trades at $10.35 or 0.00149035 BTC.
  • VeChain (VET) traded 14.5% lower against the dollar and now trades at $0.0167 or 0.00000241 BTC.
  • 0x (ZRX) traded down 16.1% against the dollar and now trades at $0.68 or 0.00009766 BTC.
  • IOStoken (IOST) traded 0.3% lower against the dollar and now trades at $0.0396 or 0.00000526 BTC.
  • Zilliqa (ZIL) traded down 12.1% against the dollar and now trades at $0.0411 or 0.00000592 BTC.

About Factom

Factom was first traded on October 5th, 2015. Factom’s total supply is 8,745,102 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.   “

Factom Coin Trading

Factom can be bought or sold on these cryptocurrency exchanges: BCEX, Qryptos, Bit-Z, Bittrex, Cryptopia, Poloniex and Upbit. It is usually not possible to buy alternative cryptocurrencies such as Factom directly using US dollars. Investors seeking to trade Factom should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Factom using one of the exchanges listed above.

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