Monero Trading 1.8% Lower This Week (XMR)

Monero (XMR) traded 1.8% lower against the U.S. dollar during the 24-hour period ending at 8:00 AM E.T. on May 12th. Monero has a total market capitalization of $7.44 billion and $175.23 million worth of Monero was traded on exchanges in the last 24 hours. One Monero coin can now be purchased for approximately $403.28 or 0.00499333 BTC on exchanges. In the last seven days, Monero has traded down 1.8% against the U.S. dollar.

Here is how related cryptocurrencies have performed in the last 24 hours:

• Arweave (AR) traded down 4.2% against the dollar and now trades at $2.31 or 0.00002859 BTC.
• Bitcoin (BTC) traded 0.2% lower against the dollar and now trades at $80,764.53 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 1.2% against the dollar and now trades at $0.11 or 0.00000135 BTC.
• UNUS SED LEO (LEO) traded down 0.1% against the dollar and now trades at $10.18 or 0.00012604 BTC.
• Zcash (ZEC) traded down 3.1% against the dollar and now trades at $552.85 or 0.00684527 BTC.
• Bitcoin Cash (BCH) traded 2.5% lower against the dollar and now trades at $439.78 or 0.00544521 BTC.
• Litecoin (LTC) traded down 2% against the dollar and now trades at $57.55 or 0.00071252 BTC.
• Ethereum Classic (ETC) traded 3.2% lower against the dollar and now trades at $9.42 or 0.00011660 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Bitcoin SV (BSV) traded 1% lower against the dollar and now trades at $16.89 or 0.00020908 BTC.

Monero Profile

Monero 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 website is www.getmonero.org. 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.

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)Telegram, Facebook, BitcoinTalk, GitHub, RedditWhitepaper”

Buying and Selling Monero

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

XMR/USD price chart by TradingView