Monero Achieves Market Capitalization of $6.58 Billion (XMR)

Monero (XMR) traded down 2.5% against the dollar during the one day period ending at 8:00 AM ET on July 31st. Monero has a market cap of $6.58 billion and $92.49 million worth of Monero was traded on exchanges in the last day. One Monero coin can currently be purchased for about $350.54 or 0.00551001 BTC on popular exchanges. Over the last seven days, Monero has traded down 0.9% against the dollar.

Here is how other cryptocurrencies have performed over the last day:

• Arweave (AR) traded 0.8% lower against the dollar and now trades at $1.71 or 0.00002689 BTC.
• Bitcoin (BTC) traded 1.8% lower against the dollar and now trades at $63,618.94 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 0.9% lower against the dollar and now trades at $0.0695 or 0.00000109 BTC.
• UNUS SED LEO (LEO) traded down 0.4% against the dollar and now trades at $9.73 or 0.00015293 BTC.
• Zcash (ZEC) traded 3.7% lower against the dollar and now trades at $457.66 or 0.00719372 BTC.
• Bitcoin Cash (BCH) traded 2% lower against the dollar and now trades at $206.97 or 0.00325334 BTC.
• Litecoin (LTC) traded down 0.4% against the dollar and now trades at $44.98 or 0.00070696 BTC.
• Ethereum Classic (ETC) traded 2% lower against the dollar and now trades at $6.65 or 0.00010447 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Bitcoin SV (BSV) traded 1.3% higher against the dollar and now trades at $12.60 or 0.00019798 BTC.

Monero Coin Profile

Monero (CRYPTO: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 18,785,121 coins. The Reddit community for Monero is https://reddit.com/r/monero and the currency’s Github account can be viewed here. Monero’s official Twitter account is @monero and its Facebook page is accessible here. The official message board for Monero is forum.getmonero.org. Monero’s official website is www.getmonero.org.

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)Telegram, Facebook, BitcoinTalk, GitHub, RedditWhitepaper”

Buying and Selling Monero

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

XMR/USD price chart by TradingView