Monero (XMR) Price Up 5.4% This Week

Monero (XMR) traded 0.9% higher against the US dollar during the 24-hour period ending at 13:00 PM Eastern on May 6th. During the last week, Monero has traded 5.4% higher against the US dollar. Monero has a market capitalization of $2.41 billion and approximately $59.45 million worth of Monero was traded on exchanges in the last day. One Monero coin can now be purchased for about $130.60 or 0.00206269 BTC on cryptocurrency exchanges.

Here is how similar cryptocurrencies have performed during the last day:

• Bitcoin (BTC) traded 1.6% lower against the dollar and now trades at $63,316.95 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 4.1% against the dollar and now trades at $0.16 or 0.00000247 BTC.
• Bitcoin Cash (BCH) traded 2.7% higher against the dollar and now trades at $482.29 or 0.00761708 BTC.
• Litecoin (LTC) traded up 0.3% against the dollar and now trades at $81.78 or 0.00129160 BTC.
• UNUS SED LEO (LEO) traded 0.2% lower against the dollar and now trades at $5.82 or 0.00009197 BTC.
• Ethereum Classic (ETC) traded 0.9% lower against the dollar and now trades at $27.40 or 0.00043278 BTC.
• Arweave (AR) traded down 3.1% against the dollar and now trades at $39.90 or 0.00063020 BTC.
• Bitcoin SV (BSV) traded 0.9% lower against the dollar and now trades at $64.72 or 0.00102214 BTC.
• eCash (XEC) traded 2.5% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Conflux (CFX) traded down 4.1% against the dollar and now trades at $0.22 or 0.00000351 BTC.

Monero 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 18,433,078 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 message board is forum.getmonero.org. Monero’s official Twitter account is @monero and its Facebook page is accessible here.

According to CryptoCompare, “Monero (XMR) is a decentralized cryptocurrency created in April 2014 by a group of developers led by the pseudonymous developer “thankful_for_today”. It utilizes a combination of ring signatures, ring confidential transactions and stealth addresses to protect sender and receiver privacy, and employs a proof-of-work consensus algorithm to ensure the security of the network. XMR is used as a medium of exchange between individuals and organizations, allowing for fast and secure money transfers over the internet, and can be exchanged for other cryptocurrencies and fiat currencies. It is listed on a variety of cryptocurrency exchanges and is accepted by many merchants and services.”

Monero Coin Trading

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 Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Monero using one of the aforementioned exchanges.

XMR/USD price chart by TradingView