Monero Hits Market Capitalization of $3.15 Billion (CRYPTO:XMR)

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Monero (CURRENCY:XMR) traded 9.1% lower against the dollar during the twenty-four hour period ending at 0:00 AM Eastern on May 8th. Monero has a total market capitalization of $3.15 billion and $56.51 million worth of Monero was traded on exchanges in the last day. During the last week, Monero has traded down 10.8% against the dollar. One Monero coin can now be bought for about $196.18 or 0.02385250 BTC on major exchanges including CoinEx, Bitbns, Binance and HitBTC.

Here is how other cryptocurrencies have performed during the last day:

  • Bytecoin (BCN) traded 16.1% lower against the dollar and now trades at $0.0101 or 0.00000123 BTC.
  • DigitalNote (XDN) traded down 10.2% against the dollar and now trades at $0.0125 or 0.00000152 BTC.
  • Aeon (AEON) traded 4.6% lower against the dollar and now trades at $1.74 or 0.00021161 BTC.
  • Boolberry (BBR) traded 14.4% lower against the dollar and now trades at $1.77 or 0.00021500 BTC.
  • Interplanetary Broadcast Coin (IPBC) traded 11.8% lower against the dollar and now trades at $0.18 or 0.00002190 BTC.
  • Sumokoin (SUMO) traded down 15.7% against the dollar and now trades at $1.73 or 0.00021062 BTC.
  • Karbo (KRB) traded 5.4% lower against the dollar and now trades at $0.52 or 0.00006333 BTC.
  • IntenseCoin (ITNS) traded 8.4% lower against the dollar and now trades at $0.0043 or 0.00000052 BTC.
  • LeviarCoin (XLC) traded 13.5% lower against the dollar and now trades at $0.0776 or 0.00000823 BTC.
  • Leviar (XLC) traded down 9.2% against the dollar and now trades at $0.0593 or 0.00000721 BTC.

Monero Profile

Monero (CRYPTO:XMR) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It launched on April 18th, 2014. Monero’s total supply is 16,035,327 coins. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. Monero’s official message board is forum.getmonero.org. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. Monero’s official website is www.monero.cc.

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

Monero can be bought or sold on these cryptocurrency exchanges: SouthXchange, Poloniex, Octaex, Gate.io, Bitfinex, Crex24, Kraken, Cryptox, Coinbe, Braziliex, BTC-Alpha, Mercatox, Bitbns, Bisq, Coinroom, Cryptomate, B2BX, Bitlish, Exmo, Tux Exchange, Ovis, BTC Trade UA, Livecoin, LiteBit.eu, Binance, Trade Satoshi, Qryptos, Bittrex, Upbit, Coinut, Cryptopia, HitBTC, Exrates, CoinEx, TradeOgre, Bithumb, OKEx and Abucoins. It is usually not 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 GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the exchanges listed above.



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