Monero (XMR) Price Down 11.2% This Week

Monero (XMR) traded down 12.3% against the US dollar during the 24 hour period ending at 9:00 AM ET on February 1st. Over the last week, Monero has traded down 11.2% against the US dollar. One Monero coin can currently be purchased for approximately $427.89 or 0.00545249 BTC on popular exchanges. Monero has a market cap of $7.89 billion and approximately $173.17 million worth of Monero was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed over the last 24 hours:

• Arweave (AR) traded 5.7% lower against the dollar and now trades at $2.58 or 0.00003283 BTC.
• Bitcoin (BTC) traded down 3.9% against the dollar and now trades at $78,476.28 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 4.1% lower against the dollar and now trades at $0.11 or 0.00000135 BTC.
• Bitcoin Cash (BCH) traded 0.7% higher against the dollar and now trades at $533.18 or 0.00679412 BTC.
• UNUS SED LEO (LEO) traded 5.1% lower against the dollar and now trades at $8.74 or 0.00011136 BTC.
• Zcash (ZEC) traded 4.9% lower against the dollar and now trades at $297.87 or 0.00379564 BTC.
• Litecoin (LTC) traded down 4.4% against the dollar and now trades at $59.46 or 0.00075768 BTC.
• Ethereum Classic (ETC) traded down 3.9% against the dollar and now trades at $9.77 or 0.00012447 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• IOTA (MIOTA) traded 0.8% higher against the dollar and now trades at $0.0743 or 0.00000095 BTC.

About Monero

XMR is a proof-of-work (PoW) coin that uses the RandomX hashing algorithm. It launched on April 18th, 2014. Monero’s total supply is 18,446,744 coins. Monero’s official message board is forum.getmonero.org. The official website for Monero 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.

According to CryptoCompare, “Monero is a decentralized cryptocurrency, meaning it is secure digital cash operated by a network of users. Transactions are confirmed by distributed consensus and then immutably recorded on the blockchain.Monero uses ring signatures, ring confidential transactions, and stealth addresses to obfuscate the origins, amounts, and destinations of all transactions. Transactions on the Monero blockchain cannot be linked to a particular user or real-world identity.Monero is is private by default. Units of Monero cannot be blacklisted by vendors or exchanges due to their association in previous transactions.Blockchain data provided by: Blockchair (Main Source), LocalMonero (Backup), and WhatToMine (Block Time only)”

Monero Coin Trading

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

XMR/USD price chart by TradingView