Monero Price Down 14.6% Over Last Week (XMR)

Monero (CURRENCY:XMR) traded up 1.5% against the dollar during the 1-day period ending at 0:00 AM Eastern on May 14th. One Monero coin can currently be purchased for approximately $410.22 or 0.00826396 BTC on popular cryptocurrency exchanges. Monero has a total market capitalization of $7.35 billion and approximately $415.15 million worth of Monero was traded on exchanges in the last day. Over the last seven days, Monero has traded 14.6% lower against the dollar.

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

  • Bytecoin (BCN) traded 5.7% higher against the dollar and now trades at $0.0009 or 0.00000002 BTC.
  • DigitalNote (XDN) traded 6.8% lower against the dollar and now trades at $0.0064 or 0.00000013 BTC.
  • Aeon (AEON) traded down 5.9% against the dollar and now trades at $1.69 or 0.00003409 BTC.
  • Monero Classic (XMC) traded up 11.6% against the dollar and now trades at $1.01 or 0.00002043 BTC.
  • Infinitus Token (INF) traded 0% higher against the dollar and now trades at $0.15 or 0.00000302 BTC.
  • Sumokoin (SUMO) traded up 64.9% against the dollar and now trades at $0.22 or 0.00000440 BTC.
  • BitTube (TUBE) traded up 13.5% against the dollar and now trades at $0.0174 or 0.00000035 BTC.
  • Karbo (KRB) traded 2.6% lower against the dollar and now trades at $0.19 or 0.00000377 BTC.
  • Digital Insurance Token (DIT) traded up 4.4% against the dollar and now trades at $0.0044 or 0.00000009 BTC.
  • ZUM TOKEN (ZUM) traded 111.4% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.

Monero Profile

Monero (XMR) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It was first traded on April 18th, 2014. Monero’s total supply is 17,909,586 coins. The official message board for Monero is Monero’s official website is Monero’s official Twitter account is @monerocurrency and its Facebook page is accessible here. The Reddit community for Monero is /r/monero and the currency’s Github account can be viewed 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. “

Monero Coin Trading

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 GDAX, 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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