Monero (XMR) Hits Market Capitalization of $2.87 Billion

Monero (XMR) traded 6.5% lower against the U.S. dollar during the 1 day period ending at 21:00 PM ET on August 27th. One Monero coin can now be purchased for about $155.34 or 0.00262392 BTC on popular exchanges. Monero has a total market capitalization of $2.87 billion and approximately $74.64 million worth of Monero was traded on exchanges in the last 24 hours. During the last week, Monero has traded down 3.4% against the U.S. dollar.

Here is how related cryptocurrencies have performed during the last 24 hours:

• Bitcoin (BTC) traded down 5.9% against the dollar and now trades at $59,202.77 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 6.8% against the dollar and now trades at $0.0988 or 0.00000167 BTC.
• Bitcoin Cash (BCH) traded 6.2% lower against the dollar and now trades at $323.13 or 0.00545804 BTC.
• UNUS SED LEO (LEO) traded up 0.3% against the dollar and now trades at $5.84 or 0.00009865 BTC.
• Litecoin (LTC) traded 4.9% lower against the dollar and now trades at $60.24 or 0.00101744 BTC.
• Ethereum Classic (ETC) traded down 6.4% against the dollar and now trades at $18.28 or 0.00030878 BTC.
• Arweave (AR) traded 6.7% lower against the dollar and now trades at $23.86 or 0.00040306 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Bitcoin SV (BSV) traded 6.6% lower against the dollar and now trades at $41.32 or 0.00069799 BTC.
• eCash (XEC) traded 4.8% lower against the dollar and now trades at $0.0000 or 0.00000000 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. The Reddit community for Monero is https://reddit.com/r/monero and the currency’s Github account can be viewed here. Monero’s official website is www.getmonero.org. Monero’s official message board is forum.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 purchase alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to acquire Monero should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Monero using one of the aforementioned exchanges.

XMR/USD price chart by TradingView