Monero (XMR) Market Capitalization Tops $717.53 Million

Monero (CURRENCY:XMR) traded down 3.6% against the US dollar during the one day period ending at 0:00 AM ET on January 28th. One Monero coin can now be purchased for approximately $42.83 or 0.01251712 BTC on major cryptocurrency exchanges including Mercatox, SouthXchange, Livecoin and Bitlish. In the last week, Monero has traded 4.7% lower against the US dollar. Monero has a market capitalization of $717.53 million and $37.58 million worth of Monero was traded on exchanges in the last 24 hours.

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

  • Bytecoin (BCN) traded down 1.1% against the dollar and now trades at $0.0006 or 0.00000017 BTC.
  • Boolberry (BBR) traded down 3% against the dollar and now trades at $0.66 or 0.00019202 BTC.
  • DigitalNote (XDN) traded 3% lower against the dollar and now trades at $0.0010 or 0.00000029 BTC.
  • BitNewChain (BTN) traded down 3.4% against the dollar and now trades at $0.0270 or 0.00000790 BTC.
  • Aeon (AEON) traded down 1.6% against the dollar and now trades at $0.28 or 0.00008111 BTC.
  • BitTube (TUBE) traded 5.4% lower against the dollar and now trades at $0.0234 or 0.00000683 BTC.
  • Stellite (XTL) traded down 3.4% against the dollar and now trades at $0.0002 or 0.00000006 BTC.
  • Karbo (KRB) traded 7% lower against the dollar and now trades at $0.0613 or 0.00001793 BTC.
  • UltraNote Coin (XUN) traded up 14.3% against the dollar and now trades at $0.0001 or 0.00000003 BTC.
  • Sumokoin (SUMO) traded down 3.4% against the dollar and now trades at $0.0270 or 0.00000788 BTC.

About Monero

XMR is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. Its genesis date was June 2nd, 2014. Monero’s total supply is 16,754,330 coins. The official website for Monero is www.monero.cc. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. Monero’s official message board is forum.getmonero.org.

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. “

Monero Coin Trading

Monero can be purchased on these cryptocurrency exchanges: Upbit, Kraken, SouthXchange, B2BX, Tux Exchange, Cryptopia, Stocks.Exchange, BTC-Alpha, HitBTC, Waves Decentralized Exchange, TradeOgre, Bithumb, Braziliex, Huobi, BitBay, Gate.io, Exrates, Mercatox, Coinut, Bitfinex, Ovis, Livecoin, Coinroom, CoinEx, DragonEX, Nanex, Coindeal, Poloniex, Trade Satoshi, LiteBit.eu, Bitbns, Crex24, Coinbe, Bitlish, Binance, OKEx, Exmo, Liquid, Cryptomate, OpenLedger DEX, BTC Trade UA, Bittrex, Graviex, Instant Bitex and Bisq. 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 Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Gemini or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the aforementioned exchanges.

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