Monero (XMR) Reaches Market Cap of $3.18 Billion

Monero (XMR) traded up 1% against the U.S. dollar during the twenty-four hour period ending at 21:00 PM ET on September 5th. In the last seven days, Monero has traded up 6.6% against the U.S. dollar. One Monero coin can currently be purchased for about $172.53 or 0.00306922 BTC on exchanges. Monero has a market capitalization of $3.18 billion and approximately $70.53 million worth of Monero was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed in the last day:

• Bitcoin (BTC) traded 3.1% lower 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 3.9% lower against the dollar and now trades at $5.51 or 0.00009801 BTC.
• Litecoin (LTC) traded 1% higher 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 up 0.4% 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 3.1% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.

Monero Profile

Monero (CRYPTO:XMR) is a proof-of-work (PoW) coin that uses the RandomX hashing algorithm. Its launch date was 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 Twitter account is @monero and its Facebook page is accessible here. The official message board for Monero is forum.getmonero.org. The official website for Monero is www.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 currently possible to buy alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to acquire Monero should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Monero using one of the aforementioned exchanges.

XMR/USD price chart by TradingView