Monero (XMR) Price Hits $425.04

Monero (XMR) traded 0.1% higher against the U.S. dollar during the one day period ending at 9:00 AM Eastern on August 24th. Over the last week, Monero has traded 2.7% higher against the U.S. dollar. Monero has a market capitalization of $7.99 billion and $93.34 million worth of Monero was traded on exchanges in the last 24 hours. One Monero coin can now be bought for approximately $425.04 or 0.00537900 BTC on major exchanges.

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

• Arweave (AR) traded up 2.6% against the dollar and now trades at $2.22 or 0.00002811 BTC.
• Bitcoin (BTC) traded 2.3% higher against the dollar and now trades at $79,017.78 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 0.7% against the dollar and now trades at $0.0929 or 0.00000118 BTC.
• Zcash (ZEC) traded 4.7% higher against the dollar and now trades at $854.05 or 0.01080830 BTC.
• UNUS SED LEO (LEO) traded down 1.1% against the dollar and now trades at $9.38 or 0.00011866 BTC.
• Bitcoin Cash (BCH) traded 2.9% higher against the dollar and now trades at $282.46 or 0.00357464 BTC.
• Litecoin (LTC) traded up 1.8% against the dollar and now trades at $53.43 or 0.00067619 BTC.
• Ethereum Classic (ETC) traded 1.7% higher against the dollar and now trades at $7.90 or 0.00010002 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Bitcoin SV (BSV) traded up 0.8% against the dollar and now trades at $16.94 or 0.00021444 BTC.

Monero Profile

Monero (CRYPTO:XMR) is a proof-of-work (PoW) coin that uses the RandomX hashing algorithm. Its genesis date was April 18th, 2014. Monero’s total supply is 18,795,493 coins. The official message board for Monero is forum.getmonero.org. The official website for Monero is www.getmonero.org. Monero’s official Twitter account is @monero and its Facebook page is accessible here. The Reddit community for Monero is https://reddit.com/r/monero and the currency’s Github account can be viewed 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 purchase alternative cryptocurrencies such as Monero directly using US dollars. Investors seeking to acquire Monero should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Monero using one of the aforementioned exchanges.

XMR/USD price chart by TradingView