Factom (FCT) Trading 6.8% Higher Over Last Week

Factom (FCT) Trading 6.8% Higher  Over Last Week

Factom (CURRENCY:FCT) traded 0.4% lower against the US dollar during the 24-hour period ending at 15:00 PM ET on May 5th. Over the last week, Factom has traded up 6.8% against the US dollar. One Factom coin can now be bought for approximately $8.99 or 0.00156514 BTC on exchanges including Upbit, Cryptopia, BCEX and Poloniex. Factom has a market capitalization of $85.04 million and $95,351.00 worth of Factom was traded on exchanges in the last 24 hours.

Here’s how other cryptocurrencies have performed over the last 24 hours:

XRP (XRP) traded 0.4% lower against the dollar and now trades at $0.30 or 0.00005252 BTC.

Binance Coin (BNB) traded down 0.6% against the dollar and now trades at $22.66 or 0.00394301 BTC.

Tether (USDT) traded down 0.3% against the dollar and now trades at $1.00 or 0.00017362 BTC.

Stellar (XLM) traded 0.8% lower against the dollar and now trades at $0.0991 or 0.00001725 BTC.

TRON (TRX) traded down 0.9% against the dollar and now trades at $0.0231 or 0.00000403 BTC.

Bitcoin SV (BSV) traded up 1.3% against the dollar and now trades at $54.17 or 0.00942689 BTC.

NEO (NEO) traded 2.4% lower against the dollar and now trades at $9.24 or 0.00160790 BTC.

Basic Attention Token (BAT) traded 1% lower against the dollar and now trades at $0.37 or 0.00006393 BTC.

Crypto.com Chain (CRO) traded 0.3% lower against the dollar and now trades at $0.0722 or 0.00001257 BTC.

VeChain (VET) traded down 1.5% against the dollar and now trades at $0.0064 or 0.00000111 BTC.

About Factom

Factom was first traded on October 5th, 2015. Factom’s total supply is 9,455,480 coins. The Reddit community for Factom is /r/factom and the currency’s Github account can be viewed here. The official website for Factom is factom.org. Factom’s official Twitter account is @factom and its Facebook page is accessible 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 purchased on these cryptocurrency exchanges: Bittrex, Poloniex, Cryptopia, Bit-Z, BCEX and Upbit. It is usually not possible to buy alternative cryptocurrencies such as Factom directly using U.S. dollars. Investors seeking to trade Factom should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Factom using one of the aforementioned exchanges.

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