Monero Market Cap Hits $3.49 Billion (CRYPTO:XMR)

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Monero (CURRENCY:XMR) traded up 6.4% against the US dollar during the 24-hour period ending at 9:00 AM ET on April 22nd. Over the last week, Monero has traded down 3.1% against the US dollar. Monero has a market capitalization of $3.49 billion and $69.52 million worth of Monero was traded on exchanges in the last day. One Monero coin can currently be bought for $217.85 or 0.02484330 BTC on cryptocurrency exchanges including Qryptos, Mercatox, CoinEx and TradeOgre.

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

  • Bytecoin (BCN) traded down 7.9% against the dollar and now trades at $0.0111 or 0.00000126 BTC.
  • DigitalNote (XDN) traded up 4.4% against the dollar and now trades at $0.0140 or 0.00000159 BTC.
  • Aeon (AEON) traded up 4.2% against the dollar and now trades at $1.87 or 0.00021309 BTC.
  • Boolberry (BBR) traded 3.1% higher against the dollar and now trades at $2.07 or 0.00023603 BTC.
  • Interplanetary Broadcast Coin (IPBC) traded down 6.4% against the dollar and now trades at $0.19 or 0.00002208 BTC.
  • Sumokoin (SUMO) traded up 6.1% against the dollar and now trades at $1.86 or 0.00021234 BTC.
  • Karbo (KRB) traded up 0.1% against the dollar and now trades at $0.54 or 0.00006212 BTC.
  • IntenseCoin (ITNS) traded up 0.9% against the dollar and now trades at $0.0044 or 0.00000050 BTC.
  • LeviarCoin (XLC) traded 13.5% lower against the dollar and now trades at $0.0776 or 0.00000823 BTC.
  • Leviar (XLC) traded down 6.7% against the dollar and now trades at $0.0605 or 0.00000690 BTC.

Monero Profile

Monero (CRYPTO:XMR) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It was first traded on April 18th, 2014. Monero’s total supply is 16,033,308 coins. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. The official website for Monero is www.monero.cc. The official message board for Monero is forum.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

Monero can be bought or sold on the following cryptocurrency exchanges: Bitfinex, Ovis, Bittrex, Cryptopia, Qryptos, Poloniex, Coinut, CoinEx, HitBTC, B2BX, BTC-Alpha, SouthXchange, Kraken, Cryptomate, Tux Exchange, Braziliex, Livecoin, Octaex, Crex24, Upbit, Mercatox, Abucoins, BTC Trade UA, Trade Satoshi, Bithumb, Gate.io, Bitbns, Coinroom, Cryptox, Coinbe, Bitlish, Exrates, Bisq, Exmo, Binance, TradeOgre, LiteBit.eu and OKEx. It is usually not possible to purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Monero using one of the exchanges listed above.

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