Monero (XMR) Reaches Market Capitalization of $5.13 Billion

Monero (XMR) traded 0.1% higher against the U.S. dollar during the 24 hour period ending at 11:00 AM ET on May 5th. One Monero coin can now be bought for about $277.90 or 0.00296225 BTC on cryptocurrency exchanges. In the last seven days, Monero has traded 8.4% higher against the U.S. dollar. Monero has a total market capitalization of $5.13 billion and approximately $123.37 million worth of Monero was traded on exchanges in the last day.

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

• Arweave (AR) traded 3.4% lower against the dollar and now trades at $6.94 or 0.00007393 BTC.
• Bitcoin (BTC) traded 2.1% lower against the dollar and now trades at $93,696.66 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 2.3% lower against the dollar and now trades at $0.17 or 0.00000182 BTC.
• UNUS SED LEO (LEO) traded down 5.4% against the dollar and now trades at $8.64 or 0.00009211 BTC.
• Bitcoin Cash (BCH) traded 1.8% lower against the dollar and now trades at $351.88 or 0.00375083 BTC.
• Litecoin (LTC) traded down 0% against the dollar and now trades at $86.71 or 0.00092431 BTC.
• Ethereum Classic (ETC) traded down 2.6% against the dollar and now trades at $15.91 or 0.00016964 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• IOTA (MIOTA) traded down 4.5% against the dollar and now trades at $0.20 or 0.00000216 BTC.
• Bitcoin SV (BSV) traded 0.3% lower against the dollar and now trades at $36.69 or 0.00039106 BTC.

Monero Coin Profile

Monero is a proof-of-work (PoW) coin that uses the RandomX hashing algorithm. Its launch date was April 18th, 2014. Monero’s total supply is 18,446,744 coins. The Reddit community for Monero is https://reddit.com/r/monero and the currency’s Github account can be viewed here. The official website for Monero is www.getmonero.org. The official message board for Monero is forum.getmonero.org. Monero’s official Twitter account is @monero and its Facebook page is accessible here.

According to CryptoCompare, “Monero is a decentralized cryptocurrency, meaning it is secure digital cash operated by a network of users. Transactions are confirmed by distributed consensus and then immutably recorded on the blockchain.Monero uses ring signatures, ring confidential transactions, and stealth addresses to obfuscate the origins, amounts, and destinations of all transactions. Transactions on the Monero blockchain cannot be linked to a particular user or real-world identity.Monero is is private by default. Units of Monero cannot be blacklisted by vendors or exchanges due to their association in previous transactions.Blockchain data provided by: Blockchair (Main Source), LocalMonero (Backup), and WhatToMine (Block Time only)”

Monero Coin Trading

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

XMR/USD price chart by TradingView