Namecoin Market Capitalization Achieves $23.73 Million (NMC)

Namecoin (CURRENCY:NMC) traded 6.8% higher against the US dollar during the twenty-four hour period ending at 17:00 PM Eastern on April 8th. During the last week, Namecoin has traded 0.6% higher against the US dollar. Namecoin has a total market capitalization of $23.73 million and approximately $26,994.00 worth of Namecoin was traded on exchanges in the last day. One Namecoin coin can currently be bought for about $1.61 or 0.00002791 BTC on cryptocurrency exchanges.

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

  • Bitcoin (BTC) traded 2.7% higher against the dollar and now trades at $57,698.20 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded up 2% against the dollar and now trades at $630.45 or 0.01092666 BTC.
  • Bitcoin SV (BSV) traded up 3.6% against the dollar and now trades at $243.46 or 0.00421962 BTC.
  • Bitcoin Cash ABC (BCHA) traded 4.9% lower against the dollar and now trades at $33.64 or 0.00058305 BTC.
  • Steem (STEEM) traded 16.6% higher against the dollar and now trades at $1.01 or 0.00001748 BTC.
  • DragonVein (DVC) traded 52.6% higher against the dollar and now trades at $0.50 or 0.00000871 BTC.
  • PIXEL (PXL) traded 10.3% higher against the dollar and now trades at $0.12 or 0.00000207 BTC.
  • Crown (CRW) traded up 6.8% against the dollar and now trades at $0.15 or 0.00000266 BTC.
  • DAOBet (BET) traded 11.9% higher against the dollar and now trades at $0.0122 or 0.00000021 BTC.
  • Color Platform (CLR) traded up 127.7% against the dollar and now trades at $0.0140 or 0.00000024 BTC.

About Namecoin

Namecoin is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It launched on April 19th, 2011. Namecoin’s total supply is 14,736,400 coins. Namecoin’s official Twitter account is @namecoin and its Facebook page is accessible here. The Reddit community for Namecoin is /r/namecoin and the currency’s Github account can be viewed here. Namecoin’s official website is www.namecoin.org.

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 purchase alternative cryptocurrencies such as Namecoin directly using US dollars. Investors seeking to acquire Namecoin should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Namecoin using one of the aforementioned exchanges.

Receive News & Updates for Namecoin Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Namecoin and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.