Monero (XMR) Market Capitalization Tops $1.53 Billion

Monero (CURRENCY:XMR) traded down 4.7% against the US dollar during the 1-day period ending at 17:00 PM ET on July 11th. Monero has a total market capitalization of $1.53 billion and $127.02 million worth of Monero was traded on exchanges in the last 24 hours. Over the last seven days, Monero has traded 1.1% lower against the US dollar. One Monero coin can now be purchased for $89.38 or 0.00800126 BTC on popular cryptocurrency exchanges including Bithumb, Coinbe, Stocks.Exchange and Bitlish.

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

  • Bytecoin (BCN) traded 9.7% lower against the dollar and now trades at $0.0007 or 0.00000007 BTC.
  • Aeon (AEON) traded 7.3% lower against the dollar and now trades at $0.70 or 0.00006263 BTC.
  • DigitalNote (XDN) traded down 9.8% against the dollar and now trades at $0.0011 or 0.00000010 BTC.
  • BitNewChain (BTN) traded 0.8% lower against the dollar and now trades at $0.0378 or 0.00000339 BTC.
  • Boolberry (BBR) traded down 1.3% against the dollar and now trades at $0.43 or 0.00003877 BTC.
  • BitTube (TUBE) traded up 3.4% against the dollar and now trades at $0.0245 or 0.00000219 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 down 5% against the dollar and now trades at $0.0043 or 0.00000039 BTC.
  • Karbo (KRB) traded down 8.3% against the dollar and now trades at $0.0948 or 0.00000848 BTC.
  • Sumokoin (SUMO) traded down 6.3% against the dollar and now trades at $0.0330 or 0.00000295 BTC.

About Monero

Monero (CRYPTO: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 17,086,582 coins. The official website for Monero 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 message board is forum.getmonero.org. 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 the following cryptocurrency exchanges: Bithumb, Exmo, B2BX, Huobi, Bisq, OKEx, Bitfinex, Kraken, BitBay, Exrates, Braziliex, Bitbns, DragonEX, OpenLedger DEX, Poloniex, LiteBit.eu, SouthXchange, HitBTC, Instant Bitex, Coinroom, Mercatox, Upbit, BTC-Alpha, Ovis, TradeOgre, Coinut, Bitlish, Graviex, Livecoin, Coindeal, Liquid, Cryptomate, Bittrex, CoinEx, BTC Trade UA, Binance, Waves Decentralized Exchange, Tux Exchange, Gate.io, Cryptopia, Crex24, Stocks.Exchange, Trade Satoshi, Coinbe and Nanex. It is usually not presently possible to purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the exchanges listed above.

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