Monero (XMR) Hits Market Capitalization of $2.42 Billion

Monero (XMR) traded up 1.8% against the US dollar during the one day period ending at 10:00 AM ET on May 9th. Monero has a market capitalization of $2.42 billion and $38.25 million worth of Monero was traded on exchanges in the last 24 hours. One Monero coin can now be purchased for about $131.09 or 0.00213803 BTC on cryptocurrency exchanges. Over the last seven days, Monero has traded up 4.8% against the US dollar.

Here’s how other cryptocurrencies have performed over the last 24 hours:

• Bitcoin (BTC) traded 1.8% lower against the dollar and now trades at $61,312.92 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 1% lower against the dollar and now trades at $0.15 or 0.00000242 BTC.
• Bitcoin Cash (BCH) traded down 4% against the dollar and now trades at $444.26 or 0.00724579 BTC.
• Litecoin (LTC) traded 1% lower against the dollar and now trades at $80.80 or 0.00131775 BTC.
• UNUS SED LEO (LEO) traded 0.7% higher against the dollar and now trades at $5.94 or 0.00009691 BTC.
• Ethereum Classic (ETC) traded 5% lower against the dollar and now trades at $27.08 or 0.00044162 BTC.
• Arweave (AR) traded up 5.3% against the dollar and now trades at $39.36 or 0.00064189 BTC.
• Bitcoin SV (BSV) traded down 3% against the dollar and now trades at $62.78 or 0.00102397 BTC.
• eCash (XEC) traded down 2.8% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Conflux (CFX) traded down 1.2% against the dollar and now trades at $0.21 or 0.00000345 BTC.

Monero Profile

XMR is a proof-of-work (PoW) coin that uses the RandomX hashing algorithm. It was first traded on April 18th, 2014. Monero’s total supply is 18,434,310 coins. Monero’s official website is www.getmonero.org. The Reddit community for Monero is https://reddit.com/r/monero and the currency’s Github account can be viewed here. Monero’s official Twitter account is @monero and its Facebook page is accessible here. The official message board for Monero is forum.getmonero.org.

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 purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the aforementioned exchanges.

XMR/USD price chart by TradingView