Siacoin (SC) is one of the altcoins that has seen a remarkable increase in price, with a 29% gain in the last 24 hours. The price of Siacoin rose from $0.004103 to $0.005248 on Wednesday, continuing its upward trend since reaching $0.003531 on July 5. This surge on Wednesday propelled SC to be listed as one of the top performers among the top 100 cryptocurrencies by market capitalization. The market cap of SC has surged by 27% to over $303 million, while the 24-hour trading volume has surged by more than 2,700% to over $72.7 million. Other altcoins that also saw double-digit gains in the same period include Mog Coin (MOG) with 15% and Bitcoin Layer-2 network Stacks (STX) with 13%. Optimism (OP) and Ondo (ONDO) also experienced an 8% and 7% increase respectively. Siacoin is the native token of Sia, a decentralized cloud storage network that provides a platform for individuals to rent out their unused storage space. Users can lease their storage space in a marketplace where smart contracts facilitate payments using the native utility token SC. Hosts, who provide storage space, use SC as collateral to ensure reliability and trust. SC not only secures the proof-of-work (PoW) coin but also serves as the payment currency on the network. The PoW mechanism offers a block reward of 30,000 SC. Sia officially launched in June 2015 and saw SC reach its all-time high of $0.09287 in January 2018. The Sia Foundation recently announced the availability of grant funding for community contributors. The grants support research, development, and deployment of projects and tools that enhance decentralized cloud storage and the broader Sia ecosystem. The latest update from the grants committee confirmed approval of grants for four projects: S5 Network, SkyMusic 2, SiaLearn, and Sia NFS Gateway.