Monero Market Cap Hits $983.46 Million (XMR)

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Monero (CURRENCY:XMR) traded 1.2% higher against the U.S. dollar during the 1 day period ending at 22:00 PM E.T. on October 21st. One Monero coin can currently be purchased for about $56.95 or 0.00693103 BTC on popular exchanges including Trade Satoshi, Kraken, OpenLedger DEX and Bitlish. Monero has a total market capitalization of $983.46 million and $97.92 million worth of Monero was traded on exchanges in the last day. Over the last week, Monero has traded up 7.3% against the U.S. dollar.

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

  • Bytecoin (BCN) traded down 3.4% against the dollar and now trades at $0.0004 or 0.00000004 BTC.
  • Monero Classic (XMC) traded 3.2% lower against the dollar and now trades at $0.36 or 0.00004344 BTC.
  • DigitalNote (XDN) traded down 5.1% against the dollar and now trades at $0.0006 or 0.00000007 BTC.
  • Aeon (AEON) traded down 3.6% against the dollar and now trades at $0.19 or 0.00002315 BTC.
  • BitNewChain (BTN) traded up 0.1% against the dollar and now trades at $0.0126 or 0.00000153 BTC.
  • BitTube (TUBE) traded 3.5% lower against the dollar and now trades at $0.0096 or 0.00000117 BTC.
  • Boolberry (BBR) traded 1.6% lower against the dollar and now trades at $0.14 or 0.00001757 BTC.
  • Stellite (XTL) traded 3.2% higher against the dollar and now trades at $0.0002 or 0.00000004 BTC.
  • Digital Insurance Token (DIT) traded 5.7% higher against the dollar and now trades at $0.0021 or 0.00000025 BTC.
  • Karbo (KRB) traded 2.7% lower against the dollar and now trades at $0.0562 or 0.00000685 BTC.

Monero Profile

Monero (XMR) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It launched on June 2nd, 2014. Monero’s total supply is 17,270,030 coins. Monero’s official message board is forum.getmonero.org. Monero’s official website is www.monero.cc. 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.

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 traded on these cryptocurrency exchanges: Coinut, BTC Trade UA, Exmo, CoinEx, Coinroom, SouthXchange, Bitfinex, Ovis, DragonEX, Cryptopia, Coindeal, Instant Bitex, Graviex, Bitbns, Bithumb, Trade Satoshi, BTC-Alpha, Coinbe, TradeOgre, Huobi, Binance, Upbit, Crex24, Cryptomate, Poloniex, B2BX, Gate.io, Livecoin, OpenLedger DEX, Bitlish, BitBay, Bisq, Bittrex, HitBTC, Exrates, Mercatox, Stocks.Exchange, Braziliex, Nanex, Waves Decentralized Exchange, Tux Exchange, OKEx, Kraken, Liquid and LiteBit.eu. It is usually not currently possible to purchase alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to trade Monero should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Monero using one of the aforementioned exchanges.

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