The Monero (XMR) price is currently $100.312 in USD, with a circulating supply of 16.33M XMR. Its market capitalization (market cap) is $1.64B. $27.34M worth of XMR has been traded in the last 24 hours, with its price changing by +6.65% over this period.
Monero is widely considered to be the world’s best and most secure privacy-focused cryptocurrency.
Most cryptocurrencies, like Bitcoin, are pseudonymous, because address balances and their transactions are tracked publicly on their blockchains. This means that anyone can see what a given address is doing with their funds.
If a person or entity managed to link you to your Bitcoin address, they would then know how many Bitcoins you hold and where you’ve sent them.
Unlike Bitcoin, Monero fully anonymizes users’ balances and transactions from outside observers using the following three privacy measures:
- Ring Signatures hide senders’ transactions among a group of sending address.
- Ring Confidential Transactions (RingCT) hide the amounts sent in transactions.
- Steal Addresses allow senders to generate a one-time address that can’t be linked back to either the sender or recipient.
The history of Monero is exceptionally unique, when compared to other coins. In 2013, a white paper was released detailing an application layer protocol called CryptoNote. This technology could be used to power anonymous cryptocurrencies.
CryptoNote’s first implementation was in the Bytecoin cryptocurrency. In 2014, it came to light that Bytecoin had been over 80% pre-mined. This led to Bytecoin losing support from the cryptocurrency community. Soon after, multiple new projects forked from Bytecoin.
One of these forks was announced on Apr 9th, 2014 by a pseudonymous Bitcoin Talk member called “thankful_for_today”. This fork was named BitMonero. The project lost favor from the community almost as quickly as it had gained it due to “thankful_for_today” wanting too much control.
A group of developers working on the project then decided to hard fork BitMonero. They called this cryptocurrency Monero.
Unlike BitMonero, Monero emphasized decentralized governance and building a community around the project. They’ve succeeded in this goal, as today Monero is one of most decentralized coins to ever exist.
It’s also worth noting, that today Monero can barely be considered a forked coin as the majority of its code has been changed from its predecessors.
Learn more in our guide "What is Monero? The Ultimate Beginner's Guide"
Monero Price History
Unlike many new coins today, Monero did not raise any funds to launch their project. Like Bitcoin, the open source software was publicly released allowing anyone to mine the coin. This means that when Monero first started, there was no price attached to the cryptocurrency.
Today Monero's Price is $100.312, with a Market Cap of $1.64B.