Monero (XMR) Market Cap Reaches $7.20 Billion

Monero (XMR) traded up 3.9% against the dollar during the 1 day period ending at 9:00 AM Eastern on May 24th. Monero has a total market capitalization of $7.20 billion and approximately $76.87 million worth of Monero was traded on exchanges in the last day. One Monero coin can currently be purchased for approximately $390.10 or 0.00506558 BTC on cryptocurrency exchanges. In the last seven days, Monero has traded 1% lower against the dollar.

Here’s how similar cryptocurrencies have performed in the last day:

• Arweave (AR) traded up 2.2% against the dollar and now trades at $2.07 or 0.00002687 BTC.
• Bitcoin (BTC) traded up 2.5% against the dollar and now trades at $77,010.26 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 3.7% higher against the dollar and now trades at $0.10 or 0.00000134 BTC.
• Zcash (ZEC) traded 11.4% higher against the dollar and now trades at $652.23 or 0.00846933 BTC.
• UNUS SED LEO (LEO) traded 1.1% higher against the dollar and now trades at $10.05 or 0.00013053 BTC.
• Bitcoin Cash (BCH) traded 2.2% higher against the dollar and now trades at $352.29 or 0.00457462 BTC.
• Litecoin (LTC) traded 2.5% higher against the dollar and now trades at $53.42 or 0.00069367 BTC.
• Ethereum Classic (ETC) traded up 4.3% against the dollar and now trades at $9.05 or 0.00011746 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Bitcoin SV (BSV) traded 1.9% higher against the dollar and now trades at $14.70 or 0.00019092 BTC.

About Monero

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 18,446,744 coins. Monero’s official Twitter account is @monero and its Facebook page is accessible here. The Reddit community for Monero is https://reddit.com/r/monero and the currency’s Github account can be viewed here. The official message board for Monero is forum.getmonero.org. The official website for Monero is www.getmonero.org.

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)Telegram, Facebook, BitcoinTalk, GitHub, RedditWhitepaper”

Buying and Selling Monero

It is usually not presently possible to buy alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Coinbase or Changelly. 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