Monero (XMR) Tops 1-Day Volume of $141.48 Million

Monero (CURRENCY:XMR) traded down 5.9% against the U.S. dollar during the 24 hour period ending at 15:00 PM ET on April 24th. One Monero coin can now be purchased for about $65.70 or 0.01211606 BTC on cryptocurrency exchanges including Exrates, Upbit, Exmo and Crex24. During the last seven days, Monero has traded down 3.2% against the U.S. dollar. Monero has a market cap of $1.11 billion and approximately $141.48 million worth of Monero was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed during the last 24 hours:

  • Bytecoin (BCN) traded 0.3% lower against the dollar and now trades at $0.0009 or 0.00000017 BTC.
  • DigitalNote (XDN) traded 22% higher against the dollar and now trades at $0.0018 or 0.00000034 BTC.
  • Boolberry (BBR) traded 4.3% lower against the dollar and now trades at $0.83 or 0.00015370 BTC.
  • BitNewChain (BTN) traded down 12% against the dollar and now trades at $0.0559 or 0.00001031 BTC.
  • Aeon (AEON) traded down 3.8% against the dollar and now trades at $0.38 or 0.00007082 BTC.
  • BitTube (TUBE) traded down 13.7% against the dollar and now trades at $0.0393 or 0.00000726 BTC.
  • Stellite (XTL) traded 3.2% higher against the dollar and now trades at $0.0002 or 0.00000004 BTC.
  • Karbo (KRB) traded 4.4% lower against the dollar and now trades at $0.0805 or 0.00001486 BTC.
  • Digital Insurance Token (DIT) traded down 11% against the dollar and now trades at $0.0018 or 0.00000034 BTC.
  • Sumokoin (SUMO) traded 12.8% lower against the dollar and now trades at $0.0348 or 0.00000642 BTC.

About Monero

Monero (CRYPTO:XMR) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It launched on June 2nd, 2014. Monero’s total supply is 16,933,697 coins. Monero’s official website is www.monero.cc. 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. The official message board for Monero is forum.getmonero.org.

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. “

Buying and Selling Monero

Monero can be traded on the following cryptocurrency exchanges: BitBay, Kraken, Tux Exchange, Coinut, Coindeal, Ovis, Stocks.Exchange, Instant Bitex, Bitfinex, SouthXchange, Waves Decentralized Exchange, B2BX, Trade Satoshi, BTC Trade UA, Liquid, Coinroom, Nanex, LiteBit.eu, Gate.io, Exrates, CoinEx, Livecoin, Bithumb, Cryptomate, Bittrex, DragonEX, Coinbe, Bitbns, OpenLedger DEX, Braziliex, Poloniex, Bisq, Upbit, HitBTC, Crex24, Graviex, Bitlish, Mercatox, TradeOgre, Cryptopia, Huobi, Binance, OKEx, BTC-Alpha and Exmo. It is usually not presently possible to purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the aforementioned exchanges.

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