Monero Reaches Market Cap of $4.47 Billion (XMR)

Monero (CURRENCY:XMR) traded 0.5% higher against the U.S. dollar during the 1 day period ending at 20:00 PM Eastern on November 25th. Monero has a market capitalization of $4.47 billion and approximately $222.53 million worth of Monero was traded on exchanges in the last 24 hours. In the last week, Monero has traded up 8.2% against the U.S. dollar. One Monero coin can now be bought for about $247.68 or 0.00420237 BTC on popular exchanges.

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

  • Bytecoin (BCN) traded up 1.7% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
  • Infinitus Token (INF) traded down 0.2% against the dollar and now trades at $0.15 or 0.00000374 BTC.
  • DigitalNote (XDN) traded 7% higher against the dollar and now trades at $0.0010 or 0.00000002 BTC.
  • Aeon (AEON) traded 2.6% lower against the dollar and now trades at $0.48 or 0.00000811 BTC.
  • Monero Classic (XMC) traded up 5.3% against the dollar and now trades at $0.27 or 0.00000455 BTC.
  • ZUM TOKEN (ZUM) traded up 911.3% against the dollar and now trades at $0.0002 or 0.00000000 BTC.
  • Sumokoin (SUMO) traded 1.1% lower against the dollar and now trades at $0.0810 or 0.00000138 BTC.
  • BitTube (TUBE) traded 15.1% higher against the dollar and now trades at $0.0047 or 0.00000008 BTC.
  • Karbo (KRB) traded down 1% against the dollar and now trades at $0.14 or 0.00000240 BTC.
  • Digital Insurance Token (DIT) traded 4.3% higher against the dollar and now trades at $0.0032 or 0.00000005 BTC.

Monero Coin Profile

XMR is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It launched on April 18th, 2014. Monero’s total supply is 18,035,664 coins. 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. Monero’s official website is ww.getmonero.org. Monero’s official message board is forum.getmonero.org.

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

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

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