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Soma (SCT) Live Price Chart & History

Live SCT / USD Price Chart

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Price USD -1.85%
$0.163496
Price BTC
0.00001834
Volatility (7d)
10.43 %
Volatility (30d)
6.76 %
Market Cap USD
$0.7M
Market Share
Since launching at $0.190053 on 21/12/2017 Soma has achieved a price of $0.163496, rising 21.57% in the last week alone.

Soma Price Analysis: Predictions and Forecasts

Why buy Soma? What is it used for?

The Social Market App (Soma) is a revolutionary decentralized platform which facilitates trade inside the Soma Community through a rewarding system that enables beneficial collaboration between the community members. Users are encouraged to engage in actions that will benefit the other members and the community as a whole by rewarding such actions with Soma Community Token (SCT)... Soma stands for the Social market. Soma is a blockchain- based social marketplace that supports the Soma community by implementing a rewarding system that utilizes Soma Community Token (SCT), which is a cryptocurrency designed to incentivize community members to perform actions that create social wealth within the community. Soma enables its users to interact socially with various features implemented on the platform and users get rewarded for doing so. Soma includes generally known concepts from traditional social media platforms (i.e. liking and sharing) and utilizes the blockchain technology to incentivize its users to leverage social capital. Soma is a marketplace where users can securely and reliably trade with each other in a decentralized environment. The platform encourages users to engage in bene cial cooperation to provide members of the Soma Community a comfort of secure and fast platform to trade with their desired items. The Soma Rewarding System guarantees that every user who contributes to the creation of the social value is rewarded by Soma Community Token (SCT). SCT is an ERC20 token which is utilized inside the community for rewarding and hence it facilitates the organic growth of the Soma community throughout the world.
Soma was launched in 21/12/2017. It uses the Ethereum consensus (currently proof of work, will be proof of stake later on) method of consensus, and is based on the N/A algorithm. Soma's goals include Soma combines features of social media and already existing marketplaces to create a blockchain-based marketplace where users are rewarded for certain 'social' actions such as 'likes', 'follows' and more..

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Soma Trading: How To Buy + Trade SCT

Many of the 'long tail' of cryptocurrencies are currently only available at a handful of exchanges, many of which will not accept direct US Dollar, GBP or EUR deposits. In order to make a trade, you need to:
  1. Create a Bitcoin, Litecoin or Ethereum wallet
  2. Create a Soma wallet to recieve your coins
  3. Buy either BTC, ETH or LTC at an exchange you trust, making a deposit by bank transfer or credit card
  4. Transfer the major coin you have bought to an exchange that trades SCT
  5. Exchange your BTC, ETH or LTC for an amount of SCT, depending on the current exchange rate
  6. Move your Soma coins from the exchange to your private wallet to protect yourself from hacks or bankcrupcy at the exchange

The downsides of trading SCT on an exchange

As you can see, the process for trading Soma is not entirely straightforward or without risks. Exchanges are notorious for bad security and there have been several major incidents of hacking or an exchange 'going bust' with the losses to coin holders in the hundreds of millions. It is not safe to keep coins on any exchange, yet moving between exchanges or from an exchange to your wallet will incur fees.

Furthemore, its not uncommon for exchanges to go offline during periods of high volatility - means should the price of Soma crash you may find yourself unable to trade out of the currency and into a safe haven due to their site crashing.

What's the alternative?

If you plan to trade, rather than buying to hold, we recommend trading with a CFD or forex broker. It may limit your choice of currency, but has considerable advantages:

  • The brokers are established and regulated by financial conduct authorities
  • Brokers regulated in Europe offer deposit protection: if they go bust your deposit will be refunded by the goverment (though not your open trades!)
  • Deposits and trades can be made directly in a currency you are comfortable with - USD, EUR or GBP. No need to calculate multiple exchange rates to know your profit.
  • Forex brokers are accustomed to high volatility and are better prepared for spikes of traffic. In a bear market, you should have a better chance of closing trades and getting your money out before Soma goes to zero

You can see our list of featured trading platforms here

Will the price Soma fall continue to rise?

It's impossible to predict for sure if Soma is due for a crash or is headed to the moon, but this is what we do know:

  • In the past 7 days Soma has risen by 21.57%
  • In the past month it has lost -39.328521047131%
  • In total it has fallen in value by $-0.026557 since its inception, a change of 86.03%

Can Soma reach, replace, pass or overtake bitcoin?

At present Soma is trading at 0.00001834 BTC. In order to reach Bitcoin's current price of $15000 USD it would need to grow by 5,452,562.7%. If we assume Soma continued to as it has in the last month - with a price change of -39.33% it would take -1.9056188741602 years just to reach Bitcoin's current price. To overtake bitcoin will take longer.

Price Targets:

If you're wondering if the price of SCT is going to take off and increase in price to a higher level we've done the math for you.
In order for Soma to reach $0.20 it needs to increase in price by a factor of 1.22x. Given its present growth rate of -39.33% per month, it could take just 1.2 months to hit a price target of $0.2 USD

What is the probability of hitting $0.20 over time?

Time periodChance final price > $0.2Chance final price < $0.2
1 week41.4%58.5%
1 month45.8%54.1%
3 months47.6%52.3%
6 months48.3%51.6%
1 year48.8%51.1%
2 years49.1%50.8%
3 years49.3%50.6%
4 years49.4%50.5%
5 years49.4%50.5%
These probabilities are an illustration based on a Monte Carlo simulation, calculated on the past 30 days historical volatility. We make no claim for real world accuracy
In order for Soma to reach $0.25 it needs to increase in price by a factor of 1.53x. Given its present growth rate of -39.33% per month, it could take just 2.6 months to hit a price target of $0.25 USD

What is the probability of hitting $0.25 over time?

Time periodChance final price > $0.25Chance final price < $0.25
1 week32.4%67.5%
1 month41.3%58.6%
3 months44.9%55%
6 months46.4%53.5%
1 year47.4%52.5%
2 years48.2%51.7%
3 years48.5%51.4%
4 years48.7%51.2%
5 years48.8%51.1%
These probabilities are an illustration based on a Monte Carlo simulation, calculated on the past 30 days historical volatility. We make no claim for real world accuracy
In order for Soma to reach $0.50 it needs to increase in price by a factor of 3.06x. Given its present growth rate of -39.33% per month, it could take just 6.8 months to hit a price target of $0.5 USD

What is the probability of hitting $0.50 over time?

Time periodChance final price > $0.5Chance final price < $0.5
1 week11.6%88.3%
1 month28.1%71.8%
3 months36.9%63%
6 months40.6%59.3%
1 year43.4%56.5%
2 years45.3%54.6%
3 years46.1%53.8%
4 years46.7%53.2%
5 years47%52.9%
These probabilities are an illustration based on a Monte Carlo simulation, calculated on the past 30 days historical volatility. We make no claim for real world accuracy
In order for Soma to reach $1.00 it needs to increase in price by a factor of 6.12x. Given its present growth rate of -39.33% per month, it could take just 10.9 months to hit a price target of $1 USD

What is the probability of hitting $1.00 over time?

Time periodChance final price > $1Chance final price < $1
1 week2.6%97.3%
1 month17.4%82.5%
3 months29.4%70.5%
6 months35.1%64.8%
1 year39.4%60.5%
2 years42.4%57.5%
3 years43.8%56.1%
4 years44.6%55.3%
5 years45.2%54.7%
These probabilities are an illustration based on a Monte Carlo simulation, calculated on the past 30 days historical volatility. We make no claim for real world accuracy
In order for Soma to reach $5.00 it needs to increase in price by a factor of 30.58x. Given its present growth rate of -39.33% per month, it could take just 1.7 years to hit a price target of $5 USD

What is the probability of hitting $5.00 over time?

Time periodChance final price > $5Chance final price < $5
1 week0%99.9%
1 month3.8%96.1%
3 months15.4%84.5%
6 months23.5%76.4%
1 year30.6%69.3%
2 years36%63.9%
3 years38.5%61.4%
4 years40%59.9%
5 years41%58.9%
These probabilities are an illustration based on a Monte Carlo simulation, calculated on the past 30 days historical volatility. We make no claim for real world accuracy
In order for Soma to reach $10.00 it needs to increase in price by a factor of 61.16x. Given its present growth rate of -39.33% per month, it could take just 2.1 years to hit a price target of $10 USD

What is the probability of hitting $10.00 over time?

Time periodChance final price > $10Chance final price < $10
1 week0%99.9%
1 month1.6%98.3%
3 months11%88.9%
6 months19.3%80.6%
1 year27.1%72.8%
2 years33.3%66.6%
3 years36.2%63.7%
4 years38%61.9%
5 years39.2%60.7%
These probabilities are an illustration based on a Monte Carlo simulation, calculated on the past 30 days historical volatility. We make no claim for real world accuracy
In order for Soma to reach $15.00 it needs to increase in price by a factor of 91.75x. Given its present growth rate of -39.33% per month, it could take just 2.3 years to hit a price target of $15 USD

What is the probability of hitting $15.00 over time?

Time periodChance final price > $15Chance final price < $15
1 week0%100%
1 month0.9%99%
3 months8.9%91%
6 months17%82.9%
1 year25.1%74.8%
2 years31.8%68.1%
3 years34.9%65%
4 years36.9%63%
5 years38.2%61.7%
These probabilities are an illustration based on a Monte Carlo simulation, calculated on the past 30 days historical volatility. We make no claim for real world accuracy
In order for Soma to reach $25.00 it needs to increase in price by a factor of 152.91x. Given its present growth rate of -39.33% per month, it could take just 2.5 years to hit a price target of $25 USD

What is the probability of hitting $25.00 over time?

Time periodChance final price > $25Chance final price < $25
1 week0%100%
1 month0.4%99.5%
3 months6.6%93.3%
6 months14.4%85.5%
1 year22.8%77.1%
2 years29.9%70%
3 years33.3%66.6%
4 years35.4%64.5%
5 years36.9%63%
These probabilities are an illustration based on a Monte Carlo simulation, calculated on the past 30 days historical volatility. We make no claim for real world accuracy
In order for Soma to reach $50.00 it needs to increase in price by a factor of 305.82x. Given its present growth rate of -39.33% per month, it could take just 2.9 years to hit a price target of $50 USD

What is the probability of hitting $50.00 over time?

Time periodChance final price > $50Chance final price < $50
1 week0%100%
1 month0.1%99.8%
3 months4.4%95.5%
6 months11.3%88.6%
1 year19.8%80.1%
2 years27.4%72.5%
3 years31.2%68.7%
4 years33.5%66.4%
5 years35.2%64.7%
These probabilities are an illustration based on a Monte Carlo simulation, calculated on the past 30 days historical volatility. We make no claim for real world accuracy

Is Soma a good investment? Is it safe to put my money into SCT?

No, it is not a 'good investment' to buy Soma, and given the market volatility it is certainly not safe either. We would urge you to not to consider buying or trading Soma as an investment but purely speculation.

It is certainly possible to profit from an increase in the value of SCT - and if you short the coin you might even profit from a crash in the market.

However with so much uncertainty in the market the best you can do is make an educated guess as to the direction of the price or the mood of the market. If you're not informed on the fundamentals that's pretty close to a gamble.

Remember, your capital is at risk.. Trading conditions can change at any time without prior notice. Buying, holding or trading is a high risk activity that may incur significant losses over a short period of time

Market Sentiment

Soma Development + Team

There are @research_team_dev_size developers coding the source behind Soma There are no sales or marketing staff on the team which could impede the coin's growth.

Soma doesn't publish bios or social profiles of their team members, making it harder to understand who is behind the project.

The team is not active on the social media channels, which can be a troubling sign. Their blog is not regularly updated, making it hard to track progress on their work

.

Risk Warning

Your capital is at risk. Trading in Forex and Contracts for Difference (CFDs) is highly speculative and involves a significant risk of loss.  The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. This website is provided for informational purposes only and in no way constitutes financial advice. A featured listing does not constitute a recommendation or endorsement.

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