Monero (XMR) Price Reaches $518.78 on Major Exchanges

Monero (XMR) traded up 1.6% against the US dollar during the 24 hour period ending at 8:00 AM E.T. on January 24th. One Monero coin can currently be bought for $518.78 or 0.00580367 BTC on popular exchanges. In the last week, Monero has traded down 16.4% against the US dollar. Monero has a market cap of $9.57 billion and $99.59 million worth of Monero was traded on exchanges in the last 24 hours.

Here is how related cryptocurrencies have performed in the last 24 hours:

• Arweave (AR) traded 0.5% lower against the dollar and now trades at $3.53 or 0.00003949 BTC.
• Bitcoin (BTC) traded 0.2% higher against the dollar and now trades at $89,387.57 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 0.4% against the dollar and now trades at $0.12 or 0.00000139 BTC.
• Bitcoin Cash (BCH) traded 0.1% higher against the dollar and now trades at $596.13 or 0.00666900 BTC.
• UNUS SED LEO (LEO) traded 0.7% higher against the dollar and now trades at $8.97 or 0.00010039 BTC.
• Zcash (ZEC) traded 2.2% higher against the dollar and now trades at $370.89 or 0.00414925 BTC.
• Litecoin (LTC) traded up 0.8% against the dollar and now trades at $68.66 or 0.00076812 BTC.
• Ethereum Classic (ETC) traded 0.2% lower against the dollar and now trades at $11.69 or 0.00013073 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• IOTA (MIOTA) traded 1.5% lower against the dollar and now trades at $0.0880 or 0.00000098 BTC.

About Monero

Monero (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. Monero’s official Twitter account is @monero and its Facebook page is accessible here. 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.

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)”

Buying and Selling Monero

It is usually not possible to purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to trade Monero should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Monero using one of the exchanges listed above.

XMR/USD price chart by TradingView