Monero Market Capitalization Hits $1.48 Billion (XMR)

Monero (CURRENCY:XMR) traded down 0.5% against the US dollar during the twenty-four hour period ending at 8:00 AM ET on May 16th. Monero has a market cap of $1.48 billion and $78.72 million worth of Monero was traded on exchanges in the last 24 hours. Over the last seven days, Monero has traded up 31.4% against the US dollar. One Monero coin can now be purchased for approximately $87.13 or 0.01100831 BTC on cryptocurrency exchanges including Coinbe, Livecoin, Coinut and Ovis.

Here’s how similar cryptocurrencies have performed over the last 24 hours:

  • Bytecoin (BCN) traded up 9.2% against the dollar and now trades at $0.0011 or 0.00000014 BTC.
  • DigitalNote (XDN) traded up 10.3% against the dollar and now trades at $0.0017 or 0.00000021 BTC.
  • Boolberry (BBR) traded down 12.9% against the dollar and now trades at $0.90 or 0.00011328 BTC.
  • BitNewChain (BTN) traded flat against the dollar and now trades at $0.0501 or 0.00000612 BTC.
  • BitTube (TUBE) traded up 2.1% against the dollar and now trades at $0.0556 or 0.00000703 BTC.
  • Aeon (AEON) traded up 1.9% against the dollar and now trades at $0.46 or 0.00005817 BTC.
  • Stellite (XTL) traded 3.2% higher against the dollar and now trades at $0.0002 or 0.00000004 BTC.
  • Karbo (KRB) traded 3.4% higher against the dollar and now trades at $0.10 or 0.00001285 BTC.
  • Digital Insurance Token (DIT) traded 6.6% lower against the dollar and now trades at $0.0020 or 0.00000025 BTC.
  • Sumokoin (SUMO) traded up 24.7% against the dollar and now trades at $0.0405 or 0.00000512 BTC.

Monero Profile

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 16,984,017 coins. 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. Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. 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. “

Monero Coin Trading

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

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