Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
Monero (XMR) rate
What is Monero (XMR)?
Monero (XMR) is a cryptocurrency that is characterized by a high level of anonymity for users and their transactions. Monero was designed to be untraceable on the internet. A transaction on the Monero blockchain cannot be tied to a specific user or real person because the cryptocurrency is fungible. This means that two separate Monero coins are absolutely identical online and cannot be distinguished from each other.
History of the Monero project development
The history of Monero began in 2013, with the release of the CryptoNote white paper authored by developer Nicholas van Saberhagen. This paper made a lot of noise in the crypto community. Soon after, the CryptoNote white paper was used to create a cryptocurrency called Bytecoin. The project soon collapsed due to misuse of resources by the developers.
Monero was created in April 2014 as a fork of Bytecoin, which was made possible due to the open source nature of the project.
Ways to use Monero
The popularity of XMR in the cryptoworld is due to the comfortable use of the currency, which offers absolute anonymity. This characteristic allows for transparency at the discretion of users.
Each of the users has several types of keys. The first of these is the “View Key”, which can be used to access an account with the corresponding private key.
This key can be optionally shared with other users with appropriate restrictions: viewing account contents, access to all historical and current transactions, access to only certain account transactions.
This approach is very convenient to use in case the account owner is a minor, and parents want to have access to the account activity and regularly monitor transactions of their children. It is also convenient for auditors, to whom the user can give access to check the status of his account and its value.
In addition to the “View Key,” users also have a “Spend Key,” which allows any trusted person you choose to make transactions for you, including account-to-account transfers.
Like the View Key, the Spend Key consists of 64 characters and letters and numbers.
Because the Monero (XMR) coin is completely anonymous, it is traded with certain restrictions on many exchanges, including Binance. Many projects fear that Monero (XMR) could be used in illegal activities in the underground market.
However, if you want to purchase goods and services online anonymously or surreptitiously without leaving a digital paper trail, Monero (XMR) could also be an ideal way to do so easily on a regular basis.
Advantages and disadvantages of Monero
The Monero (XMR) software is programmed to update autonomously every six months. This makes the coin more adaptable to changes unlike the same bitcoin.
Also in 2018, the Monero (XMR) project was the first to implement so-called “bulletproof” technology, which has greatly improved transaction speeds and lowered transaction costs by reducing the size of the average transaction by at least 80%.
Of all the fully anonymous coins, Monero (XMR) has the highest market value at the moment.
In addition, Monero (XMR) provides privacy by default, unlike Zcash where this feature is manually entered.
This could be very attractive for investors to invest in the coin, rightly deciding that the demand for anonymity will get higher and higher over time and will lead to a noticeable increase in the price of XMR.
Thus the secrecy and anonymity that Monero (XMR) provides are valued by most users. They give people the freedom to conduct cryptocurrency transactions whenever they want and for any reason – without fear of being spied on by government agencies, hackers, or other third parties.
What makes XMR unique?
Monero stands out significantly among other cryptocurrencies due to the maximum decentralization that is at the heart of the project. Thanks to it, users do not need to rely on other participants in the network for their actions.
For example, on the Bitcoin blockchain, each coin can be tracked by serial number, XMR, on the other hand, is completely interchangeable. This means that you can’t get information on a transfer – senders, recipients and transfer amounts are hidden by default. This is a significant advantage for projects like Zcash, where privacy is selectively enabled.
Monero: exchange rate, market capitalization, number of coins in circulation and other data
At the moment the market price/rate of Monero (XMR) is 223 USD. The market capitalization is 4.12 billion USD.
The maximum number of Monero tokens in circulation is 18.44 billion USD.
On May 12, 2021, XMR reached an all-time high of 453 USD, at this point, the volume of daily transactions is still steadily increasing.
XMR volume per 24 hours averages 68.21 million USD.
Latest Monero project news
In March 2025, the price of XMR started to rise and reached the highest level since April 2022.
XMR first jumped to a high of 216.3 USD, which is 110% higher than the lowest level in 2024.
Analysts believe that the price of the coin is likely to continue to rise in the coming weeks, the coin’s trading growth will also increase. A break above the upper boundary of the ascending channel would indicate a further rise, possibly to 290 USD, the highest level in April 2022.
FAQ
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What is Monero (XMR)?
Monero is a cryptocurrency that provides a high level of anonymity for both users and their transactions. It was created with a focus on complete untraceability on the internet.
Is it possible to understand who signed the XMR transfer?
No, you can’t. XMR is designed with ring signature technology to confuse the trail. This technology uses past transactions as decoys, so that the signature of the transfer becomes indefinable. This is how transfer amounts can be broken down to add a layer of complexity.
In addition, a unique hidden address is created for each transaction and used once, making it impossible to link transactions to each other.
Why is there often no XMR trading on exchanges?
Because of its anonymity features, Monero is increasingly being used in shady transactions, especially on the darknet. Authorities, including the U.S. government, have even offered rewards of hundreds of thousands of dollars for ways to crack the Monero protocol.
How do I cash out or buy XMR for cash?
On our platform you can deposit or withdraw ADA for cash in USD, EUR or UAH. Just contact a manager to arrange a meeting at a location convenient for you. If your city is not on the list, contact our team to discuss options. All transactions are processed at current exchange rates.
