Namecoin (CURRENCY:NMC) traded down 69.1% against the dollar during the 24 hour period ending at 23:00 PM ET on October 13th. One Namecoin coin can now be bought for about $0.58 or 0.00009205 BTC on popular exchanges including Bleutrade, Cryptopia, YoBit and Altcoin Trader. Namecoin has a total market capitalization of $8.52 million and $61,497.00 worth of Namecoin was traded on exchanges in the last 24 hours. Over the last seven days, Namecoin has traded 65.5% lower against the dollar.

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

  • Bitcoin (BTC) traded 0.6% higher against the dollar and now trades at $6,314.70 or 1.00000000 BTC.
  • Bitcoin Cash (BCH) traded 0.9% higher against the dollar and now trades at $449.85 or 0.07159380 BTC.
  • Steem (STEEM) traded 0.4% higher against the dollar and now trades at $0.85 or 0.00013517 BTC.
  • Unobtanium (UNO) traded up 1.1% against the dollar and now trades at $60.63 or 0.00964991 BTC.
  • Counterparty (XCP) traded 3.8% higher against the dollar and now trades at $2.90 or 0.00046184 BTC.
  • Crown (CRW) traded down 2.4% against the dollar and now trades at $0.34 or 0.00005472 BTC.
  • Terracoin (TRC) traded up 12.1% against the dollar and now trades at $0.0676 or 0.00001076 BTC.
  • CHIPS (CHIPS) traded flat against the dollar and now trades at $0.0455 or 0.00000726 BTC.
  • ATBCoin (ATB) traded up 0.8% against the dollar and now trades at $0.0212 or 0.00000337 BTC.
  • Zetacoin (ZET) traded up 10% against the dollar and now trades at $0.0020 or 0.00000032 BTC.

Namecoin Profile

Namecoin (CRYPTO: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. 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. 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

Namecoin can be purchased on these cryptocurrency exchanges: Trade By Trade, Tux Exchange, Bitsane, Bleutrade, YoBit, WEX, Poloniex, SouthXchange, Cryptopia, C-Patex, Altcoin Trader, Livecoin, Bittylicious and BX Thailand. It is usually not presently possible to buy alternative cryptocurrencies such as Namecoin directly using U.S. dollars. Investors seeking to trade Namecoin should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Namecoin using one of the aforementioned exchanges.

Receive News & Updates for Namecoin Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Namecoin and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.