Namecoin (NMC) Price Tops $2.55 on Exchanges

Namecoin (NMC) traded down 1.6% against the US dollar during the 1-day period ending at 20:00 PM ET on April 10th. Namecoin has a total market capitalization of $37.60 million and $6,414.00 worth of Namecoin was traded on exchanges in the last 24 hours. One Namecoin coin can now be purchased for about $2.55 or 0.00006044 BTC on major cryptocurrency exchanges. Over the last week, Namecoin has traded up 1% against the US dollar.

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

  • Bitcoin (BTC) traded 1.2% lower against the dollar and now trades at $42,216.86 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded down 1.8% against the dollar and now trades at $320.10 or 0.00758225 BTC.
  • Bitcoin SV (BSV) traded down 1.1% against the dollar and now trades at $85.67 or 0.00202927 BTC.
  • Steem (STEEM) traded down 2.4% against the dollar and now trades at $0.35 or 0.00000817 BTC.
  • Counterparty (XCP) traded down 17.1% against the dollar and now trades at $7.60 or 0.00018003 BTC.
  • Unbound (UNB) traded 0.3% lower against the dollar and now trades at $0.0060 or 0.00000014 BTC.
  • DAOBet (BET) traded flat against the dollar and now trades at $0.0318 or 0.00000056 BTC.
  • PIXEL (PXL) traded down 6.3% against the dollar and now trades at $0.0022 or 0.00000005 BTC.
  • DragonVein (DVC) traded 14.8% lower against the dollar and now trades at $0.0019 or 0.00000005 BTC.
  • SafeBlast (BLAST) traded 4.5% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.

Namecoin Profile

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

It is usually not currently 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 Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Namecoin using one of the exchanges listed above.

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