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What is Monero (XMR)?

Monero basic info

Name:Monero
Ticker:
Introduction:

What Is Monero?

Launched in 2014, Monero (XMR) is the first cryptocurrency that prioritizes user privacy and fungibility. In contrast to other popular cryptocurrencies such as Bitcoin or Ethereum, which can be tracked on public ledgers, Monero ensures transactions remain untraceable and private, capturing the attention of users, investors, and privacy advocates alike.

Under the pseudonym "Thankful_for_today," Monero was originally developed and later nurtured by a dedicated group of developers, adhering to principles of decentralization, community-driven development, and anonymity. While forked from the Bytecoin codebase, it underwent substantial enhancements and optimizations, establishing itself as an independent and private coin.

Resources

Whitepaper: https://github.com/monero-project/research-lab/blob/master/whitepaper/whitepaper.pdf

Official website: https://www.getmonero.org/

How Does Monero Work?

Monero's privacy features are underpinned by five key technologies:

- Ring Signatures enable transaction anonymity by combining a user's signature with others in the network, forming an indistinguishable "ring" of potential signers, effectively masking the true sender.

- Ring Confidential Transactions (RingCT) conceals transaction amounts, encrypting this information so that only the sender and receiver can access it, maintaining the confidentiality of each Monero coin's transaction history.

- Stealth Addresses adds an extra layer of privacy by generating unique, one-time addresses for each transaction, making it exceedingly difficult to link the receiver's address to their identity.

- To bolster privacy, Monero allows transactions to be conducted over the anonymous Tor and I2P networks, obscuring the origin and destination of transactions and protecting users' IP addresses and physical locations.

- Dandelion++: Monero further enhances transaction privacy with the Dandelion++ protocol. Transactions pass through a "stem" phase, shared with a single neighboring node, before probabilistically being broadcast to the entire network, making it tough for adversaries to trace the transaction's origin.

What Determines Monero's Price?

Understanding the factors that influence the current price of Monero (XMR) is crucial for both investors and traders in the cryptocurrency market. As a privacy-focused cryptocurrency, Monero's price today is determined by a variety of elements, including market demand, investor sentiment, and macroeconomic indicators.

Unique Aspects Affecting Monero Price

One unique aspect affecting Monero's value is its strong focus on privacy and anonymity. This has led to Monero's adoption for various use-cases, both legitimate and illicit, which in turn impacts its USD price. Moreover, this privacy feature has made Monero a subject of regulatory scrutiny, another factor that can affect its price.

Monero Market Cap and its Importance

Monero's market cap serves as a vital indicator of its overall market value. Calculated as the Monero price in USD multiplied by its circulating supply, the market cap provides insights into Monero's potential for growth or decline.

Technological Advancements and Monero's Price

Advancements in Monero's technology can also influence its current price. Upgrades aimed at enhancing its privacy features, as well as its mining algorithm designed to be more egalitarian compared to other cryptocurrencies, are factors often considered in Monero price analysis.

Tools for Monero Price Analysis

Monero price predictions often involve examining its price chart and historical price data. Tools like a Monero price calculator can be useful for investors who wish to convert the XMR price to their preferred currency.

Other Influential Factors

Trading volume, recent Monero price news, and the overall state of the cryptocurrency market are also significant influencers. For instance, during a 'crypto winter,' where most cryptocurrencies experience a downward trend, Monero is likely to follow suit.

Conclusion

In summary, Monero stands as a pioneer in prioritizing user privacy and fungibility within the cryptocurrency space. With its untraceable transactions and innovative technologies, it continues to be a compelling choice for users, investors, and privacy advocates alike.

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Current price:
All-time high:$517.62
All-time low:$0.2130

XMR supply and tokenomics

Circulating supply:18,446,744 XMR
Total supply:18,446,744.07 XMR
Max supply:0 XMR
Market cap:$3.00B
Fully diluted market cap:$3.00B

Links

Buy Monero for $1Buy XMR now

What is the development prospect and future value of XMR?

The market value of XMR currently stands at $3.00B, and its market ranking is #29. The value of XMR is widely recognized by the market. When the bull market comes, the market value of XMR will likely continue to increase.

Moreover, if XMR can play a greater role in practical applications, such as Monero builders fully leveraging the potential of XMR, partnering with more businesses, and increasing its user base, the long-term value of XMR will be significantly enhanced.

What will the price of XMR be in 2025?
Based on XMR's historical price performance prediction model, the price of XMR is projected to reach $256.95 in 2025.
What will the price of XMR be in 2030?
In 2030, the XMR price is expected to change by -15.00%. By the end of 2030, the XMR price is projected to reach $303.81, with a cumulative ROI of +90.10%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of XMR and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is XMR worth investing or holding? How to buy XMR from a crypto exchange?

If you want to buy XMR, the following information may be helpful for your investment decisions:
In the last seven days, the price of XMR has risen by 0.70%, leading to positive returns for most XMR investors. The market is currently optimistic about the price trend of XMR.
It is important to note that the current price of XMR has retreated by -68.53% from its all-time high. This coin is currently considered medium-risk, and its price may rebound or continue to fall.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether XMR is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in XMR or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of XMR, if you want to buy or sell XMR, you can consider Bitget for your trading needs. The best place to buy XMR is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Monero has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Monero. Here's a step-by-step guide on how to buy Monero on Bitget.

How to get Monero through other methods?

Using cash to buy Monero is not the only way to obtain Monero. If you have the time to spare, you can get Monero for free.
Learn how to earn Monero for free through the Learn2Earn promotion.
Earn free Monero by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Monero airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Monero through Bitget Convert, Bitget Swap, or spot trading.

What is Monero used for and how to use Monero?

The use case of Monero may expand as the crypto market and the project itself develop. Currently, you can use XMR to achieve the following goals:
Arbitrage by trading XMR: Since XMR is a frequently traded cryptocurrency, the price of XMR is always fluctuating. Earn more XMR by buying low and selling high on the exchange. Bitget spot market provides a variety of XMR trading pairs to fully meet your needs.
Earn by staking XMR: You can also generate income through financial management methods such as staking XMR or lending XMR. Bitget Earn offers a variety of financial products designed to help you earn more income from your XMR.
Send or pay XMR: If you want to give XMR to your friends, a charity, or a fundraiser, or you want to pay someone with XMR, you can quickly and easily send XMR to the recipient through their payment address.
You can also go to the official website of the Monero project to learn more about the use cases of XMR. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

Monero Wiki

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