Monero (XMR) Market Cap Hits $2.96 Billion

Monero (XMR) traded down 2.5% against the dollar during the twenty-four hour period ending at 9:00 AM Eastern on July 30th. In the last seven days, Monero has traded up 0.5% against the dollar. One Monero coin can now be purchased for about $160.26 or 0.00241329 BTC on major cryptocurrency exchanges. Monero has a total market cap of $2.96 billion and approximately $72.14 million worth of Monero was traded on exchanges in the last day.

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

• Bitcoin (BTC) traded 4.1% lower against the dollar and now trades at $66,439.05 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 3.8% lower against the dollar and now trades at $0.13 or 0.00000193 BTC.
• Bitcoin Cash (BCH) traded down 4.2% against the dollar and now trades at $432.78 or 0.00651728 BTC.
• Litecoin (LTC) traded 3.5% lower against the dollar and now trades at $73.24 or 0.00110285 BTC.
• UNUS SED LEO (LEO) traded 3.4% lower against the dollar and now trades at $5.67 or 0.00008542 BTC.
• Ethereum Classic (ETC) traded 2.3% lower against the dollar and now trades at $22.79 or 0.00034323 BTC.
• Arweave (AR) traded 6.5% lower against the dollar and now trades at $30.37 or 0.00045728 BTC.
• Bitcoin SV (BSV) traded 2.6% lower against the dollar and now trades at $52.19 or 0.00078593 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• eCash (XEC) traded down 5.6% against the dollar and now trades at $0.0000 or 0.00000000 BTC.

About Monero

Monero (XMR) is a proof-of-work (PoW) coin that uses the RandomX hashing algorithm. Its genesis date was April 18th, 2014. Monero’s total supply is 18,446,744 coins. The Reddit community for Monero is https://reddit.com/r/monero and the currency’s Github account can be viewed here. Monero’s official message board is forum.getmonero.org. Monero’s official website is www.getmonero.org. Monero’s official Twitter account is @monero and its Facebook page is accessible here.

According to CryptoCompare, “Monero (XMR) is a decentralized cryptocurrency created in April 2014 by a group of developers led by the pseudonymous developer “thankful_for_today”. It utilizes a combination of ring signatures, ring confidential transactions and stealth addresses to protect sender and receiver privacy, and employs a proof-of-work consensus algorithm to ensure the security of the network. XMR is used as a medium of exchange between individuals and organizations, allowing for fast and secure money transfers over the internet, and can be exchanged for other cryptocurrencies and fiat currencies. It is listed on a variety of cryptocurrency exchanges and is accepted by many merchants and services.”

Buying and Selling Monero

It is usually not presently possible to buy alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to acquire Monero should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Monero using one of the aforementioned exchanges.

XMR/USD price chart by TradingView