Binance confirms that it’s listing Siacoin, price starts to rise

Siacoin is the latest to feel the benefit of a Binance listing…

The cryptocurrency exchange Binance can help trigger an explosion in a coin’s price just by announcing a listing. As such, it’s going to be worth keeping an eye on Siacoin over the coming days, with its price already started to climb heavily off the back of Binance’s latest announcement.

For Binance has confirmed, via Twitter, that it’ll be listing Siacoin, although it doesn’t state as of yet just when trading will commence.

Here’s that Tweet…

Sia describes itself as “a decentralized storage platform secured by blockchain technology”. It adds that “the Sia Storage Platform leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers”.

Siacoin is then used to pay to rent said cloud storage space. It’s a fairly low volume currency thus far, although obviously the Binance listing may have something to say about that.

Users can now start depositing Siacoin via Binance now, although trading in the currency via Binance, as we noted above, isn’t yet open.