Namecoin Trading 17.4% Higher This Week (NMC)

Namecoin (CURRENCY:NMC) traded up 5.7% against the US dollar during the 24 hour period ending at 11:00 AM ET on January 6th. Namecoin has a market capitalization of $8.10 million and $49,581.00 worth of Namecoin was traded on exchanges in the last 24 hours. One Namecoin coin can currently be purchased for $0.55 or 0.00001573 BTC on popular cryptocurrency exchanges. During the last week, Namecoin has traded up 17.4% against the US dollar.

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

  • Bitcoin (BTC) traded 8.4% higher against the dollar and now trades at $34,932.90 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded 10.5% higher against the dollar and now trades at $455.17 or 0.01302977 BTC.
  • Bitcoin Cash ABC (BCHA) traded 2.3% higher against the dollar and now trades at $15.81 or 0.00045264 BTC.
  • Steem (STEEM) traded up 11.6% against the dollar and now trades at $0.18 or 0.00000523 BTC.
  • Unobtanium (UNO) traded 4.9% higher against the dollar and now trades at $69.88 or 0.00200032 BTC.
  • DragonVein (DVC) traded up 8.5% against the dollar and now trades at $0.0395 or 0.00000113 BTC.
  • Counterparty (XCP) traded 0.4% lower against the dollar and now trades at $1.18 or 0.00003379 BTC.
  • Crown (CRW) traded up 3.5% against the dollar and now trades at $0.0865 or 0.00000248 BTC.
  • DAOBet (BET) traded 9.9% lower against the dollar and now trades at $0.0087 or 0.00000025 BTC.
  • Color Platform (CLR) traded down 2.8% against the dollar and now trades at $0.0098 or 0.00000028 BTC.

Namecoin Coin Profile

Namecoin (NMC) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It launched on April 19th, 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 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.

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 the following cryptocurrency exchanges: . It is usually not presently possible to purchase alternative cryptocurrencies such as Namecoin directly using US dollars. Investors seeking to trade Namecoin should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Namecoin using one of the aforementioned exchanges.

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