Monero (XMR) Market Cap Reaches $12.99 Billion

Monero (XMR) traded 3.9% lower against the U.S. dollar during the 24-hour period ending at 9:00 AM Eastern on January 16th. Over the last seven days, Monero has traded up 53.4% against the U.S. dollar. One Monero coin can now be purchased for about $704.08 or 0.00737263 BTC on cryptocurrency exchanges. Monero has a total market cap of $12.99 billion and approximately $359.82 million worth of Monero was traded on exchanges in the last day.

Here’s how other cryptocurrencies have performed over the last day:

• Arweave (AR) traded down 1.2% against the dollar and now trades at $4.00 or 0.00004185 BTC.
• Bitcoin (BTC) traded 0.6% lower against the dollar and now trades at $95,498.59 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 4.2% against the dollar and now trades at $0.14 or 0.00000145 BTC.
• Bitcoin Cash (BCH) traded 2.7% lower against the dollar and now trades at $599.89 or 0.00628165 BTC.
• UNUS SED LEO (LEO) traded up 0.1% against the dollar and now trades at $8.91 or 0.00009327 BTC.
• Zcash (ZEC) traded down 7.7% against the dollar and now trades at $408.34 or 0.00427586 BTC.
• Litecoin (LTC) traded 4.3% lower against the dollar and now trades at $72.44 or 0.00075857 BTC.
• Ethereum Classic (ETC) traded 3.7% lower against the dollar and now trades at $12.54 or 0.00013131 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• IOTA (MIOTA) traded down 4.3% against the dollar and now trades at $0.0951 or 0.00000100 BTC.

Monero Coin Profile

Monero (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. Monero’s official Twitter account is @monero and its Facebook page is accessible here. Monero’s official website is www.getmonero.org. 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 is a decentralized cryptocurrency, meaning it is secure digital cash operated by a network of users. Transactions are confirmed by distributed consensus and then immutably recorded on the blockchain.Monero uses ring signatures, ring confidential transactions, and stealth addresses to obfuscate the origins, amounts, and destinations of all transactions. Transactions on the Monero blockchain cannot be linked to a particular user or real-world identity.Monero is is private by default. Units of Monero cannot be blacklisted by vendors or exchanges due to their association in previous transactions.Blockchain data provided by: Blockchair (Main Source), LocalMonero (Backup), and WhatToMine (Block Time only)”

Buying and Selling Monero

It is usually not possible to buy alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to acquire Monero should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Monero using one of the exchanges listed above.

XMR/USD price chart by TradingView