Monero Price Tops $369.50 (XMR)

Monero (XMR) traded 6.9% lower against the dollar during the 1 day period ending at 8:00 AM Eastern on May 28th. One Monero coin can now be bought for about $369.50 or 0.00503107 BTC on major exchanges. Monero has a market cap of $6.82 billion and approximately $151.64 million worth of Monero was traded on exchanges in the last day. Over the last week, Monero has traded down 6% against the dollar.

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

• Arweave (AR) traded 8.4% lower against the dollar and now trades at $2.08 or 0.00002828 BTC.
• Bitcoin (BTC) traded 2.9% lower against the dollar and now trades at $73,442.87 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 4% lower against the dollar and now trades at $0.0978 or 0.00000133 BTC.
• UNUS SED LEO (LEO) traded down 0.1% against the dollar and now trades at $10.02 or 0.00013646 BTC.
• Zcash (ZEC) traded down 8.1% against the dollar and now trades at $529.19 or 0.00720544 BTC.
• Bitcoin Cash (BCH) traded down 12.3% against the dollar and now trades at $301.30 or 0.00410249 BTC.
• Litecoin (LTC) traded down 3% against the dollar and now trades at $50.79 or 0.00069156 BTC.
• Ethereum Classic (ETC) traded 5.5% lower against the dollar and now trades at $8.13 or 0.00011076 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Bitcoin SV (BSV) traded down 4.2% against the dollar and now trades at $13.73 or 0.00018701 BTC.

Monero Profile

Monero (CRYPTO:XMR) 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 official message board for Monero is forum.getmonero.org. 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. 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)Telegram, Facebook, BitcoinTalk, GitHub, RedditWhitepaper”

Buying and Selling Monero

It is usually not currently possible to buy alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to acquire Monero should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, 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