Namecoin (NMC) Hits Market Cap of $10.62 Million

Namecoin (CURRENCY:NMC) traded up 5.8% against the US dollar during the 1-day period ending at 0:00 AM ET on August 22nd. In the last seven days, Namecoin has traded up 4.2% against the US dollar. One Namecoin coin can currently be bought for approximately $0.72 or 0.00007118 BTC on cryptocurrency exchanges including Altcoin Trader, Bitsane, C-Patex and Livecoin. Namecoin has a total market cap of $10.62 million and approximately $5,431.00 worth of Namecoin was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed in the last 24 hours:

  • Bitcoin (BTC) traded up 2% against the dollar and now trades at $10,141.06 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded up 3.7% against the dollar and now trades at $308.94 or 0.03050810 BTC.
  • Steem (STEEM) traded up 7.4% against the dollar and now trades at $0.17 or 0.00001718 BTC.
  • Unobtanium (UNO) traded up 8% against the dollar and now trades at $75.77 or 0.00748254 BTC.
  • Counterparty (XCP) traded 8.2% lower against the dollar and now trades at $1.88 or 0.00018495 BTC.
  • Crown (CRW) traded up 10% against the dollar and now trades at $0.0660 or 0.00000650 BTC.
  • Terracoin (TRC) traded up 2.4% against the dollar and now trades at $0.0348 or 0.00000343 BTC.
  • PIXEL (PXL) traded up 22.3% against the dollar and now trades at $0.0084 or 0.00000083 BTC.
  • CHIPS (CHIPS) traded flat against the dollar and now trades at $0.0205 or 0.00000392 BTC.
  • Zetacoin (ZET) traded down 5.2% against the dollar and now trades at $0.0017 or 0.00000017 BTC.

Namecoin Coin Profile

NMC is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It was first traded on April 18th, 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 official website for Namecoin is www.namecoin.org. The Reddit community for Namecoin is /r/namecoin and the currency’s Github account can be viewed 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 traded on these cryptocurrency exchanges: C-Patex, YoBit, Cryptopia, WEX, Bitsane, Altcoin Trader, Bittylicious, SouthXchange, Trade By Trade, Poloniex, BX Thailand, Livecoin, Tux Exchange and Bleutrade. It is usually not presently 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 Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Namecoin using one of the exchanges listed above.

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