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Monero Market Capitalization Reaches $1.66 Billion (XMR)

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Monero (CURRENCY:XMR) traded 1% lower against the US dollar during the 24 hour period ending at 21:00 PM E.T. on June 18th. During the last seven days, Monero has traded 11.8% higher against the US dollar. Monero has a market capitalization of $1.66 billion and $217.76 million worth of Monero was traded on exchanges in the last day. One Monero coin can now be bought for $97.61 or 0.01064667 BTC on major exchanges including Coindeal, Exmo, Waves Decentralized Exchange and BTC-Alpha.

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

  • Bytecoin (BCN) traded down 6.5% against the dollar and now trades at $0.0010 or 0.00000011 BTC.
  • Aeon (AEON) traded 7.6% higher against the dollar and now trades at $1.01 or 0.00010993 BTC.
  • DigitalNote (XDN) traded down 4.6% against the dollar and now trades at $0.0017 or 0.00000018 BTC.
  • BitNewChain (BTN) traded up 11.5% against the dollar and now trades at $0.0501 or 0.00000546 BTC.
  • Boolberry (BBR) traded down 2.8% against the dollar and now trades at $0.61 or 0.00006641 BTC.
  • BitTube (TUBE) traded 4% lower against the dollar and now trades at $0.0376 or 0.00000410 BTC.
  • Stellite (XTL) traded up 3.2% against the dollar and now trades at $0.0002 or 0.00000004 BTC.
  • Digital Insurance Token (DIT) traded 16.9% lower against the dollar and now trades at $0.0035 or 0.00000038 BTC.
  • Karbo (KRB) traded down 0.6% against the dollar and now trades at $0.0955 or 0.00001042 BTC.
  • Sumokoin (SUMO) traded up 0.7% against the dollar and now trades at $0.0449 or 0.00000490 BTC.

Monero Coin Profile

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 17,049,804 coins. 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 website for Monero is www.monero.cc. Monero’s official message board 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. “

Monero Coin Trading

Monero can be purchased on these cryptocurrency exchanges: Trade Satoshi, Nanex, Coinroom, Coindeal, Waves Decentralized Exchange, TradeOgre, Huobi, DragonEX, Tux Exchange, B2BX, Coinut, Bitbns, Bithumb, Braziliex, HitBTC, Mercatox, Exmo, BitBay, LiteBit.eu, Gate.io, Exrates, CoinEx, Cryptomate, Liquid, Crex24, Coinbe, Upbit, Bittrex, OpenLedger DEX, Livecoin, Instant Bitex, BTC Trade UA, Poloniex, OKEx, Bitlish, Binance, BTC-Alpha, SouthXchange, Graviex, Kraken, Cryptopia, Ovis, Bisq, Stocks.Exchange and Bitfinex. It is usually not 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 Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Monero using one of the exchanges listed above.

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