Namecoin Market Capitalization Achieves $7.24 Million (NMC)

Namecoin (CURRENCY:NMC) traded 6% higher against the U.S. dollar during the 24-hour period ending at 20:00 PM ET on October 9th. Namecoin has a market capitalization of $7.24 million and $3,933.00 worth of Namecoin was traded on exchanges in the last day. One Namecoin coin can now be purchased for $0.49 or 0.00005725 BTC on popular exchanges including Tux Exchange, C-Patex, Cryptopia and Altcoin Trader. During the last seven days, Namecoin has traded 12.2% higher against the U.S. dollar.

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

  • Bitcoin (BTC) traded 4.3% higher against the dollar and now trades at $8,580.48 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded 2.9% higher against the dollar and now trades at $238.39 or 0.02776069 BTC.
  • Steem (STEEM) traded down 2.2% against the dollar and now trades at $0.15 or 0.00001698 BTC.
  • Unobtanium (UNO) traded up 26% against the dollar and now trades at $52.85 or 0.00615427 BTC.
  • Counterparty (XCP) traded 0.8% higher against the dollar and now trades at $1.73 or 0.00020185 BTC.
  • Color Platform (CLR) traded 0.4% higher against the dollar and now trades at $0.0371 or 0.00000433 BTC.
  • Crown (CRW) traded 34.8% lower against the dollar and now trades at $0.0508 or 0.00000592 BTC.
  • PIXEL (PXL) traded 4.4% lower against the dollar and now trades at $0.0159 or 0.00000185 BTC.
  • Terracoin (TRC) traded up 3.2% against the dollar and now trades at $0.0234 or 0.00000272 BTC.
  • CHIPS (CHIPS) traded flat against the dollar and now trades at $0.0205 or 0.00000392 BTC.

Namecoin Coin Profile

Namecoin (NMC) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. Its genesis date was April 18th, 2011. Namecoin’s total supply is 14,736,400 coins. The Reddit community for Namecoin is /r/namecoin and the currency’s Github account can be viewed here. The official website for Namecoin is www.namecoin.org. 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

Namecoin can be bought or sold on these cryptocurrency exchanges: YoBit, Bitsane, WEX, SouthXchange, Tux Exchange, Trade By Trade, Livecoin, Bleutrade, Cryptopia, Altcoin Trader, BX Thailand, Bittylicious, Poloniex and C-Patex. It is usually not presently possible to purchase alternative cryptocurrencies such as Namecoin directly using U.S. dollars. Investors seeking to trade Namecoin should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Namecoin using one of the exchanges listed above.

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