Monero (XMR) 1-Day Trading Volume Hits $101.51 Million

Monero (XMR) traded 4.7% higher against the US dollar during the 24 hour period ending at 8:00 AM E.T. on July 6th. One Monero coin can now be bought for approximately $125.28 or 0.00622189 BTC on major cryptocurrency exchanges. Over the last week, Monero has traded up 3.8% against the US dollar. Monero has a market cap of $2.27 billion and approximately $101.51 million worth of Monero was traded on exchanges in the last day.

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

  • Coalculus (COAL) traded 7.6% lower against the dollar and now trades at $0.0032 or 0.00000015 BTC.
  • Bytecoin (BCN) traded 0.8% lower against the dollar and now trades at $0.0001 or 0.00000000 BTC.
  • Infinitus Token (INF) traded flat against the dollar and now trades at $0.15 or 0.00000374 BTC.
  • Aeon (AEON) traded 3.1% higher against the dollar and now trades at $0.0701 or 0.00000348 BTC.
  • Sumokoin (SUMO) traded up 5.9% against the dollar and now trades at $0.0199 or 0.00000099 BTC.
  • MoneroV (XMV) traded 3.1% higher against the dollar and now trades at $0.24 or 0.00001197 BTC.
  • BitTube (TUBE) traded 3.3% higher against the dollar and now trades at $0.0014 or 0.00000007 BTC.
  • BitNewChain (BTN) traded flat against the dollar and now trades at $0.0025 or 0.00000005 BTC.
  • Karbo (KRB) traded up 17% against the dollar and now trades at $0.0438 or 0.00000217 BTC.
  • Monero Classic (XMC) traded down 94.3% against the dollar and now trades at $0.0214 or 0.00000106 BTC.

Monero Coin Profile

Monero (XMR) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. Its launch date was April 18th, 2014. Monero’s total supply is 18,143,992 coins. Monero’s official website is Monero’s official message board 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 buy alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Monero using one of the aforementioned exchanges.

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