Factom Tops 24-Hour Trading Volume of $1.17 Million (FCT)

Factom (CURRENCY:FCT) traded down 1.3% against the U.S. dollar during the twenty-four hour period ending at 15:00 PM ET on January 24th. During the last week, Factom has traded down 9.7% against the U.S. dollar. One Factom coin can currently be purchased for $1.90 or 0.00022385 BTC on popular exchanges including Poloniex, Bittrex, Cryptopia and BCEX. Factom has a total market cap of $16.84 million and $1.17 million worth of Factom was traded on exchanges in the last day.

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

  • XRP (XRP) traded up 0% against the dollar and now trades at $0.22 or 0.00002637 BTC.
  • Bitcoin SV (BSV) traded 6.6% higher against the dollar and now trades at $271.70 or 0.03193480 BTC.
  • Tether (USDT) traded up 0.3% against the dollar and now trades at $1.00 or 0.00011793 BTC.
  • Binance Coin (BNB) traded 2.3% higher against the dollar and now trades at $17.27 or 0.00202961 BTC.
  • Stellar (XLM) traded 0.3% lower against the dollar and now trades at $0.0572 or 0.00000673 BTC.
  • TRON (TRX) traded up 2.4% against the dollar and now trades at $0.0165 or 0.00000194 BTC.
  • Chainlink (LINK) traded 2.2% higher against the dollar and now trades at $2.52 or 0.00029601 BTC.
  • Neo (NEO) traded 1% higher against the dollar and now trades at $10.61 or 0.00124712 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 down 0.3% against the dollar and now trades at $0.0381 or 0.00000379 BTC.

Factom Profile

Factom launched on October 5th, 2015. Factom’s total supply is 8,840,589 coins. Factom’s official Twitter account is @factom and its Facebook page is accessible here. The official website for Factom is factom.org. 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.   “

Buying and Selling Factom

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

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