Monero (XMR) Reaches Market Cap of $3.18 Billion

Monero (XMR) traded 1% higher against the dollar during the twenty-four hour period ending at 21:00 PM E.T. on September 5th. One Monero coin can now be purchased for about $172.53 or 0.00306922 BTC on popular exchanges. Monero has a market capitalization of $3.18 billion and $70.53 million worth of Monero was traded on exchanges in the last 24 hours. Over the last seven days, Monero has traded 6.6% higher against the dollar.

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

• Bitcoin (BTC) traded down 3.1% against the dollar and now trades at $56,212.25 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 0.5% against the dollar and now trades at $0.0985 or 0.00000175 BTC.
• Bitcoin Cash (BCH) traded 2.7% lower against the dollar and now trades at $307.13 or 0.00546379 BTC.
• UNUS SED LEO (LEO) traded down 3.9% against the dollar and now trades at $5.51 or 0.00009801 BTC.
• Litecoin (LTC) traded up 1% against the dollar and now trades at $66.52 or 0.00118340 BTC.
• Ethereum Classic (ETC) traded 2.6% lower against the dollar and now trades at $17.60 or 0.00031305 BTC.
• Arweave (AR) traded 1.2% lower against the dollar and now trades at $20.99 or 0.00037334 BTC.
• Bitcoin SV (BSV) traded 0.4% higher against the dollar and now trades at $45.24 or 0.00080478 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• eCash (XEC) traded down 3.1% against the dollar and now trades at $0.0000 or 0.00000000 BTC.

Monero Coin Profile

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. 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. Monero’s official website is www.getmonero.org. Monero’s official Twitter account is @monero and its Facebook page is accessible here.

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 GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Monero using one of the exchanges listed above.

XMR/USD price chart by TradingView