Namecoin Trading 2.9% Lower Over Last 7 Days (NMC)

Namecoin (CURRENCY:NMC) traded down 0.8% against the dollar during the 24 hour period ending at 11:00 AM Eastern on May 11th. During the last week, Namecoin has traded down 2.9% against the dollar. Namecoin has a total market cap of $29.99 million and $260,755.00 worth of Namecoin was traded on exchanges in the last day. One Namecoin coin can now be purchased for $2.04 or 0.00025143 BTC on popular cryptocurrency exchanges including Bleutrade, Bittylicious, WEX and YoBit.

Here is how similar cryptocurrencies have performed during the last day:

  • Bitcoin (BTC) traded down 2.7% against the dollar and now trades at $8,105.28 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded down 9.9% against the dollar and now trades at $1,152.97 or 0.14244200 BTC.
  • Steem (STEEM) traded 2.1% higher against the dollar and now trades at $2.95 or 0.00036417 BTC.
  • Counterparty (XCP) traded 8.8% lower against the dollar and now trades at $13.87 or 0.00171389 BTC.
  • Unobtanium (UNO) traded down 1.8% against the dollar and now trades at $122.48 or 0.01513140 BTC.
  • Crown (CRW) traded down 6.1% against the dollar and now trades at $1.08 or 0.00013366 BTC.
  • PACcoin ($PAC) traded 0.6% lower against the dollar and now trades at $0.0047 or 0.00000058 BTC.
  • ATBCoin (ATB) traded 2% lower against the dollar and now trades at $0.22 or 0.00002749 BTC.
  • CHIPS (CHIPS) traded 2.7% lower against the dollar and now trades at $0.24 or 0.00003010 BTC.
  • Terracoin (TRC) traded down 3.1% against the dollar and now trades at $0.19 or 0.00002353 BTC.

Namecoin Profile

NMC is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. Its launch date was 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. Namecoin’s official Twitter account is @namecoin and its Facebook page is accessible 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: Tux Exchange, Poloniex, Cryptopia, YoBit, Bleutrade, BX Thailand, WEX, Bittylicious, SouthXchange, Livecoin and Trade By Trade. It is usually not possible to purchase alternative cryptocurrencies such as Namecoin directly using U.S. dollars. Investors seeking to trade Namecoin should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Namecoin using one of the aforementioned exchanges.

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