Monero (XMR) Reaches Market Capitalization of $2.80 Billion

Monero (XMR) traded 0.6% lower against the US dollar during the 24 hour period ending at 0:00 AM Eastern on October 12th. One Monero coin can now be bought for about $151.88 or 0.00242320 BTC on popular exchanges. Monero has a total market cap of $2.80 billion and $49.49 million worth of Monero was traded on exchanges in the last 24 hours. During the last week, Monero has traded 1.3% lower against the US dollar.

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

• Bitcoin (BTC) traded 0.3% higher against the dollar and now trades at $62,676.78 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 1.3% higher against the dollar and now trades at $0.11 or 0.00000177 BTC.
• Bitcoin Cash (BCH) traded 0.3% higher against the dollar and now trades at $326.14 or 0.00520347 BTC.
• UNUS SED LEO (LEO) traded 0.2% lower against the dollar and now trades at $6.07 or 0.00009680 BTC.
• Litecoin (LTC) traded up 0.6% against the dollar and now trades at $65.54 or 0.00104573 BTC.
• Ethereum Classic (ETC) traded up 0.6% against the dollar and now trades at $18.64 or 0.00029737 BTC.
• Arweave (AR) traded up 2.7% against the dollar and now trades at $19.16 or 0.00030566 BTC.
• Bitcoin SV (BSV) traded up 0.2% against the dollar and now trades at $45.38 or 0.00072400 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Conflux (CFX) traded 3.1% lower against the dollar and now trades at $0.17 or 0.00000270 BTC.

Monero Profile

Monero is a proof-of-work (PoW) coin that uses the RandomX hashing algorithm. Its launch date was April 18th, 2014. Monero’s total supply is 18,446,744 coins. The official website for Monero is www.getmonero.org. The official message board for Monero is forum.getmonero.org. Monero’s official Twitter account is @monero and its Facebook page is accessible here. The Reddit community for Monero is https://reddit.com/r/monero and the currency’s Github account can be viewed 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 currently possible to buy alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Monero using one of the exchanges listed above.

XMR/USD price chart by TradingView