Monero (XMR) Trading 0.7% Lower This Week

Monero (XMR) traded 0.8% lower against the U.S. dollar during the 1-day period ending at 0:00 AM E.T. on August 10th. One Monero coin can currently be purchased for $151.28 or 0.00247495 BTC on popular cryptocurrency exchanges. Over the last week, Monero has traded 0.7% lower against the U.S. dollar. Monero has a market cap of $2.79 billion and $46.57 million worth of Monero was traded on exchanges in the last day.

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

• Bitcoin (BTC) traded up 1.1% against the dollar and now trades at $61,135.48 or 1.00000000 BTC.
• Dogecoin (DOGE) traded 5.7% higher against the dollar and now trades at $0.11 or 0.00000180 BTC.
• Bitcoin Cash (BCH) traded up 1.4% against the dollar and now trades at $356.34 or 0.00582964 BTC.
• UNUS SED LEO (LEO) traded 0.1% lower against the dollar and now trades at $5.78 or 0.00009452 BTC.
• Litecoin (LTC) traded up 2.3% against the dollar and now trades at $61.92 or 0.00101296 BTC.
• Ethereum Classic (ETC) traded 0.6% higher against the dollar and now trades at $19.54 or 0.00031969 BTC.
• Arweave (AR) traded 0.6% lower against the dollar and now trades at $21.95 or 0.00035910 BTC.
• Bitcoin SV (BSV) traded up 3.6% against the dollar and now trades at $43.51 or 0.00071177 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Zcash (ZEC) traded down 0.6% against the dollar and now trades at $41.32 or 0.00067593 BTC.

Monero Coin Profile

Monero (XMR) is a proof-of-work (PoW) coin that uses the RandomX hashing algorithm. It was first traded on April 18th, 2014. Monero’s total supply is 18,446,744 coins. Monero’s official website is www.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 message board for Monero is forum.getmonero.org. Monero’s official Twitter account is @monero and its Facebook page is accessible here.

According to CryptoCompare, “Monero (XMR) is a decentralized cryptocurrency created in April 2014 by a group of developers led by the pseudonymous developer “thankful_for_today”. It utilizes a combination of ring signatures, ring confidential transactions and stealth addresses to protect sender and receiver privacy, and employs a proof-of-work consensus algorithm to ensure the security of the network. XMR is used as a medium of exchange between individuals and organizations, allowing for fast and secure money transfers over the internet, and can be exchanged for other cryptocurrencies and fiat currencies. It is listed on a variety of cryptocurrency exchanges and is accepted by many merchants and services.”

Buying and Selling Monero

It is usually not presently possible to buy alternative cryptocurrencies such as Monero directly using U.S. dollars. Investors seeking to trade Monero should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Changelly or Gemini. 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