Monero (XMR) Price Hits $163.74 on Exchanges

Monero (XMR) traded 0.1% higher against the U.S. dollar during the 24 hour period ending at 0:00 AM ET on October 28th. Monero has a market capitalization of $3.02 billion and approximately $57.52 million worth of Monero was traded on exchanges in the last 24 hours. One Monero coin can now be bought for $163.74 or 0.00230937 BTC on cryptocurrency exchanges. During the last week, Monero has traded 4.4% higher against the U.S. dollar.

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

• Bitcoin (BTC) traded 4.8% higher against the dollar and now trades at $70,902.72 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 16.3% higher against the dollar and now trades at $0.17 or 0.00000235 BTC.
• Bitcoin Cash (BCH) traded 8.3% higher against the dollar and now trades at $376.32 or 0.00530759 BTC.
• UNUS SED LEO (LEO) traded 0% higher against the dollar and now trades at $6.05 or 0.00008535 BTC.
• Litecoin (LTC) traded 2.1% higher against the dollar and now trades at $72.04 or 0.00101608 BTC.
• Ethereum Classic (ETC) traded up 5.1% against the dollar and now trades at $19.17 or 0.00027036 BTC.
• Arweave (AR) traded 4.8% higher against the dollar and now trades at $16.47 or 0.00023224 BTC.
• Bitcoin SV (BSV) traded 13.9% higher against the dollar and now trades at $51.81 or 0.00073066 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• eCash (XEC) traded 8.5% higher 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. It launched on April 18th, 2014. Monero’s total supply is 18,446,744 coins. The official website for Monero is www.getmonero.org. Monero’s official Twitter account is @monero and its Facebook page is accessible here. Monero’s official message board is forum.getmonero.org. The Reddit community for Monero is https://reddit.com/r/monero and the currency’s Github account can be viewed 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 US dollars. Investors seeking to trade Monero should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Monero using one of the aforementioned exchanges.

XMR/USD price chart by TradingView