Monero Achieves Market Capitalization of $1.04 Billion (XMR)

Fibo Quantum

Monero (CURRENCY:XMR) traded up 0.7% against the US dollar during the 24 hour period ending at 8:00 AM E.T. on January 12th. Monero has a market cap of $1.04 billion and $88.00 million worth of Monero was traded on exchanges in the last 24 hours. One Monero coin can now be bought for $59.74 or 0.00732952 BTC on popular cryptocurrency exchanges including Livecoin, Bitlish, Mercatox and Gate.io. Over the last week, Monero has traded up 12.7% against the US dollar.

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

  • Bytecoin (BCN) traded 4.1% higher against the dollar and now trades at $0.0003 or 0.00000004 BTC.
  • Monero Classic (XMC) traded 15.5% higher against the dollar and now trades at $0.27 or 0.00003321 BTC.
  • DigitalNote (XDN) traded up 15.5% against the dollar and now trades at $0.0007 or 0.00000008 BTC.
  • Sumokoin (SUMO) traded up 6.1% against the dollar and now trades at $0.14 or 0.00001663 BTC.
  • Aeon (AEON) traded down 2.5% against the dollar and now trades at $0.14 or 0.00001703 BTC.
  • BitTube (TUBE) traded 0.2% higher against the dollar and now trades at $0.0095 or 0.00000117 BTC.
  • Boolberry (BBR) traded up 5% against the dollar and now trades at $0.13 or 0.00001644 BTC.
  • BitNewChain (BTN) traded up 0.4% against the dollar and now trades at $0.0099 or 0.00000121 BTC.
  • Stellite (XTL) traded up 3.2% against the dollar and now trades at $0.0002 or 0.00000004 BTC.
  • Digital Insurance Token (DIT) traded flat against the dollar and now trades at $0.0025 or 0.00000031 BTC.

Monero Coin Profile

XMR is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It launched on June 2nd, 2014. Monero’s total supply is 17,396,668 coins. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. Monero’s official website is www.monero.cc. The official message board for Monero is forum.getmonero.org. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here.

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 traded on the following cryptocurrency exchanges: Huobi, Trade Satoshi, Bitbns, TradeOgre, Coinbe, Braziliex, BitBay, Tux Exchange, Exmo, Graviex, Mercatox, Upbit, Coinut, Cryptomate, Gate.io, Liquid, Coindeal, HitBTC, Coinroom, SouthXchange, Bithumb, BTC Trade UA, Binance, Ovis, Stocks.Exchange, Bittrex, Crex24, Bitfinex, BTC-Alpha, OpenLedger DEX, Kraken, LiteBit.eu, Livecoin, Nanex, Instant Bitex, Cryptopia, Bitlish, CoinEx, Exrates, DragonEX, Poloniex, Bisq, B2BX, Waves Decentralized Exchange and OKEx. It is usually not currently possible to purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Monero using one of the exchanges listed above.

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