Monero Market Cap Hits $1.07 Billion (XMR)

Monero (CURRENCY:XMR) traded 1.8% higher against the US dollar during the 24-hour period ending at 18:00 PM E.T. on November 9th. Monero has a market capitalization of $1.07 billion and approximately $149.65 million worth of Monero was traded on exchanges in the last day. Over the last seven days, Monero has traded down 0.3% against the US dollar. One Monero coin can now be purchased for approximately $62.14 or 0.00706257 BTC on popular exchanges including Tux Exchange, OKEx, Gate.io and Liquid.

Here is how similar cryptocurrencies have performed over the last day:

  • Bytecoin (BCN) traded 7.4% higher against the dollar and now trades at $0.0004 or 0.00000005 BTC.
  • Monero Classic (XMC) traded 3.5% higher against the dollar and now trades at $0.34 or 0.00003914 BTC.
  • DigitalNote (XDN) traded 0.6% lower against the dollar and now trades at $0.0006 or 0.00000007 BTC.
  • Aeon (AEON) traded 0.2% lower against the dollar and now trades at $0.23 or 0.00002636 BTC.
  • BitNewChain (BTN) traded down 0.1% against the dollar and now trades at $0.0151 or 0.00000172 BTC.
  • BitTube (TUBE) traded down 0.5% against the dollar and now trades at $0.0098 or 0.00000111 BTC.
  • Boolberry (BBR) traded 0.5% lower against the dollar and now trades at $0.16 or 0.00001772 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 up 5.6% against the dollar and now trades at $0.0031 or 0.00000035 BTC.
  • Karbo (KRB) traded down 1% against the dollar and now trades at $0.0580 or 0.00000658 BTC.

Monero Coin Profile

Monero is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. Its launch date was June 2nd, 2014. Monero’s total supply is 17,296,526 coins. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed here. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. Monero’s official message board is forum.getmonero.org. The official website for Monero is www.monero.cc.

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 purchased on the following cryptocurrency exchanges: Coinroom, Coinbe, Waves Decentralized Exchange, Bithumb, OpenLedger DEX, Livecoin, Kraken, Liquid, Poloniex, CoinEx, Mercatox, Crex24, Bisq, HitBTC, SouthXchange, Bitfinex, Upbit, OKEx, LiteBit.eu, Exmo, Bitlish, Nanex, Graviex, Trade Satoshi, Gate.io, BTC-Alpha, BitBay, Coinut, Cryptopia, BTC Trade UA, Coindeal, Bittrex, Cryptomate, B2BX, Tux Exchange, Exrates, Ovis, Stocks.Exchange, Bitbns, Binance, DragonEX, Braziliex, TradeOgre, Huobi and Instant Bitex. It is usually not currently possible to buy alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to trade Monero should first buy 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 buy Monero using one of the exchanges listed above.


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