Monero Market Capitalization Hits $1.42 Billion (XMR)

Fibo Quantum

Monero (CURRENCY:XMR) traded 0.1% lower against the dollar during the 1 day period ending at 15:00 PM E.T. on August 23rd. In the last week, Monero has traded 0.9% higher against the dollar. Monero has a market capitalization of $1.42 billion and approximately $99.79 million worth of Monero was traded on exchanges in the last 24 hours. One Monero coin can now be bought for approximately $82.72 or 0.00795049 BTC on major cryptocurrency exchanges including Binance, Bitlish, Exmo and BTC Trade UA.

Here’s how other cryptocurrencies have performed in the last 24 hours:

  • Bytecoin (BCN) traded 1.8% higher against the dollar and now trades at $0.0006 or 0.00000006 BTC.
  • Aeon (AEON) traded 5.2% higher against the dollar and now trades at $0.75 or 0.00007188 BTC.
  • DigitalNote (XDN) traded 2.1% higher against the dollar and now trades at $0.0008 or 0.00000008 BTC.
  • Boolberry (BBR) traded up 3.2% against the dollar and now trades at $0.44 or 0.00004224 BTC.
  • BitNewChain (BTN) traded 0.1% higher against the dollar and now trades at $0.0230 or 0.00000221 BTC.
  • BitTube (TUBE) traded up 17.4% against the dollar and now trades at $0.0147 or 0.00000141 BTC.
  • Stellite (XTL) traded 3.2% higher against the dollar and now trades at $0.0002 or 0.00000004 BTC.
  • Digital Insurance Token (DIT) traded 2% higher against the dollar and now trades at $0.0036 or 0.00000035 BTC.
  • Karbo (KRB) traded down 1.2% against the dollar and now trades at $0.0734 or 0.00000706 BTC.
  • Sumokoin (SUMO) traded 1.5% higher against the dollar and now trades at $0.0373 or 0.00000358 BTC.

Monero Coin Profile

Monero is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It was first traded on June 2nd, 2014. Monero’s total supply is 17,170,312 coins. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. Monero’s official message board is forum.getmonero.org. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. Monero’s official website is www.monero.cc.

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 purchased on the following cryptocurrency exchanges: Huobi, HitBTC, Bisq, Bitbns, TradeOgre, Graviex, BTC-Alpha, Mercatox, Liquid, Upbit, Tux Exchange, Gate.io, Coinbe, Braziliex, Exmo, Bithumb, Cryptopia, Cryptomate, Coinut, Kraken, DragonEX, LiteBit.eu, Instant Bitex, Stocks.Exchange, Coinroom, CoinEx, Ovis, Binance, OpenLedger DEX, B2BX, Livecoin, BitBay, Exrates, BTC Trade UA, Bittrex, Waves Decentralized Exchange, Poloniex, Trade Satoshi, SouthXchange, Crex24, Bitlish, Nanex, Bitfinex, Coindeal and OKEx. It is usually not currently 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 Gemini, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Monero using one of the aforementioned exchanges.

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