Namecoin (NMC) Achieves Market Capitalization of $11.30 Million

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Namecoin (CURRENCY:NMC) traded up 4.4% against the dollar during the 24-hour period ending at 10:00 AM E.T. on August 18th. During the last seven days, Namecoin has traded up 1.1% against the dollar. One Namecoin coin can currently be bought for approximately $0.77 or 0.00007363 BTC on popular cryptocurrency exchanges including Altcoin Trader, Livecoin, Bittylicious and Bitsane. Namecoin has a total market cap of $11.30 million and $7,792.00 worth of Namecoin was traded on exchanges in the last 24 hours.

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

  • Bitcoin (BTC) traded up 0.7% against the dollar and now trades at $10,421.64 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded 2.1% higher against the dollar and now trades at $317.04 or 0.03044410 BTC.
  • Steem (STEEM) traded 1.1% higher against the dollar and now trades at $0.17 or 0.00001670 BTC.
  • Unobtanium (UNO) traded down 3.2% against the dollar and now trades at $74.98 or 0.00719884 BTC.
  • Counterparty (XCP) traded down 2.8% against the dollar and now trades at $1.98 or 0.00019045 BTC.
  • Crown (CRW) traded 2.1% higher against the dollar and now trades at $0.0671 or 0.00000644 BTC.
  • Terracoin (TRC) traded up 6.1% against the dollar and now trades at $0.0352 or 0.00000338 BTC.
  • PIXEL (PXL) traded 1.1% higher against the dollar and now trades at $0.0092 or 0.00000089 BTC.
  • CHIPS (CHIPS) traded flat against the dollar and now trades at $0.0205 or 0.00000392 BTC.
  • Zetacoin (ZET) traded down 0% against the dollar and now trades at $0.0018 or 0.00000018 BTC.

Namecoin Coin Profile

Namecoin (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 purchased on these cryptocurrency exchanges: Bleutrade, SouthXchange, C-Patex, Bittylicious, Tux Exchange, Poloniex, BX Thailand, YoBit, Altcoin Trader, WEX, Bitsane, Livecoin, Cryptopia and Trade By Trade. 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 GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Namecoin using one of the exchanges listed above.

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