Monero Market Capitalization Hits $5.74 Billion (XMR)


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Monero (CURRENCY:XMR) traded 2.2% lower against the U.S. dollar during the twenty-four hour period ending at 21:00 PM E.T. on April 14th. In the last seven days, Monero has traded 24.6% higher against the U.S. dollar. Monero has a market cap of $5.74 billion and approximately $589.72 million worth of Monero was traded on exchanges in the last 24 hours. One Monero coin can currently be bought for $320.98 or 0.00510025 BTC on major exchanges.

Here is how related cryptocurrencies have performed in the last 24 hours:

  • Bytecoin (BCN) traded 4.4% higher against the dollar and now trades at $0.0010 or 0.00000002 BTC.
  • Aeon (AEON) traded down 16.2% against the dollar and now trades at $1.56 or 0.00002474 BTC.
  • DigitalNote (XDN) traded down 1.2% against the dollar and now trades at $0.0038 or 0.00000006 BTC.
  • Monero Classic (XMC) traded down 6.8% against the dollar and now trades at $0.74 or 0.00001174 BTC.
  • Infinitus Token (INF) traded up 10.5% against the dollar and now trades at $0.0881 or 0.00000140 BTC.
  • Sumokoin (SUMO) traded up 6.7% against the dollar and now trades at $0.11 or 0.00000171 BTC.
  • Karbo (KRB) traded 8.7% lower against the dollar and now trades at $0.23 or 0.00000363 BTC.
  • Digital Insurance Token (DIT) traded 3.3% higher against the dollar and now trades at $0.0048 or 0.00000008 BTC.
  • BitNewChain (BTN) traded 0.1% lower against the dollar and now trades at $0.0025 or 0.00000005 BTC.
  • ZUM TOKEN (ZUM) traded down 96.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.

About Monero

Monero is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. Its launch date was April 18th, 2014. Monero’s total supply is 17,886,965 coins. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. Monero’s official message board is forum.getmonero.org. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. Monero’s official website is ww.getmonero.org.

According to CryptoCompare, “Ring Signature The Basics In cryptography, a ring signature is a type of digital signature that can be performed by any member of a group of users that each have keys. Therefore, a message signed with a ring signature is endorsed by someone in a particular group of people. One of the security properties of a ring signature is that it should be computationally infeasible to determine which of the group members' keys was used to produce the signature. For instance, a ring signature could be used to provide an anonymous signature from “a high-ranking White House official”, without revealing which official signed the message. Ring signatures are right for this application because the anonymity of a ring signature cannot be revoked, and because the group for a ring signature can be improvised (requires no prior setup).   Application to Monero A ring signature makes use of your account keys and a number of public keys (also known as outputs) pulled from the blockchain using a triangular distribution method. Over the course of time, past outputs could be used multiple times to form possible signer participants. In a “ring” of possible signers, all ring members are equal and valid. There is no way an outside observer can tell which of the possible signers in a signature group belongs to your account. So, ring signatures ensure that transaction outputs are untraceable. Moreover, there are no fungibility issues with Monero given that every transaction output has plausible deniability (e.g. the network can not tell which outputs are spent or unspent). To read how Monero gives you privacy by default (unlinkability), see stealth addresses. “

Buying and Selling Monero

It is usually not currently possible to purchase alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to trade Monero should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the aforementioned exchanges.

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