Siacoin is up strongly today, gaining 8.35% at the time of writing. The coin now sits in 22nd position on coinmarketcap and is looking to overtake Bytecoin & Stellar respectively. Although reentering the top 20 is possible requiring only a $1.5 million increase in market cap.

Achieving Siacoin's (SC) previous market high would need an appreciation of nearly $7.5 million. A possibility which looks out of reach at this time. SC previous market high was on June, 26th when the coin briefly crossed $17 million on volumes of more than $2 million.

Siacoin, with currency code SC aims to become the largest storage superserver on the planet. The backbone storage layer of the internet. To attain its goal Siacoin makes use of blockchain technology to cryptographically ensure the transfer & storage of data. This data is spread over Sia's distributed network where those who provide spare storage capacity receive rental income. The rental income is paid by those who wish to host data on the network.