Monero Market Cap Tops $2.44 Billion (XMR)

Monero (XMR) traded up 3.6% against the U.S. dollar during the 24-hour period ending at 20:00 PM E.T. on May 8th. One Monero coin can now be bought for about $132.19 or 0.00215500 BTC on major cryptocurrency exchanges. In the last week, Monero has traded 6.6% higher against the U.S. dollar. Monero has a total market capitalization of $2.44 billion and approximately $36.71 million worth of Monero was traded on exchanges in the last day.

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

• Bitcoin (BTC) traded 1.8% lower against the dollar and now trades at $61,343.41 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 4% lower against the dollar and now trades at $0.14 or 0.00000235 BTC.
• Bitcoin Cash (BCH) traded down 4% against the dollar and now trades at $449.56 or 0.00732860 BTC.
• Litecoin (LTC) traded 1.5% higher against the dollar and now trades at $81.79 or 0.00133335 BTC.
• UNUS SED LEO (LEO) traded 1.4% higher against the dollar and now trades at $5.93 or 0.00009669 BTC.
• Ethereum Classic (ETC) traded up 0.2% against the dollar and now trades at $27.12 or 0.00044210 BTC.
• Arweave (AR) traded 1% lower against the dollar and now trades at $37.90 or 0.00061790 BTC.
• Bitcoin SV (BSV) traded down 1.8% against the dollar and now trades at $62.15 or 0.00101310 BTC.
• eCash (XEC) traded down 2.4% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Conflux (CFX) traded down 0.2% against the dollar and now trades at $0.21 or 0.00000342 BTC.

About Monero

Monero (CRYPTO: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 18,433,962 coins. 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. 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 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 Coinbase, Gemini 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