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Monero (XMR) is a decentralised, untraceable digital currency designed to provide secure and private transactions. A fork of Bytecoin, Monero is built on the CryptoNote protocol and uses a number of features to obscure the origin, amount and destination of transactions.
This digital coin aims to offer a feature important to many cryptocurrency users: privacy. While the world’s best-known cryptocurrency, Bitcoin, is widely perceived by the general public to be completely anonymous and untraceable, this isn’t actually the case, and it’s this lack of privacy that Monero aims to address. An open-source, crowdfunded project, Monero offers a decentralised and anonymous cryptocurrency that it claims is untraceable, unlinkable, secure, private and resistant to blockchain analysis.
This high level of privacy also means that Monero offers fungibility, which means that every coin has equal value and is interchangeable. Because no two Monero coins are distinguishable from one another, this removes the risk of XMR (the native token of the Monero network) being refused by vendors or exchanges due to its association with previous transactions such as theft.
Monero (XMR) is the 26th largest cryptocurrency in the world by market cap, valued at $3,156,818,576. The current price of Monero is $173.75, which is -6.468% lower than yesterday. Prices have ranged between $186.98 and $173.83 over the past 24 hours. All prices are listed in US dollars and accurate as of January 31, 2023 04:01 UTC.
Binance Coin (BNB) is the token native for Binance and its blockchain-based ventures. The coin can be used to interact with the Binance cryptocurrency exchange as well as the ever-evolving DeFi ecosystem on the Binance Smart Chain network.
On the Binance exchange, BNB provides users with discounts on trading fees, serves as a trading pair for coins and is used on the Binance Decentralized Exchange (DEX). Fees paid in BNB are periodically “burnt”, which means they are permanently removed from circulation, which in turn decreases the supply and theoretically increases the value. Binance will continue to burn coins until the supply is reduced from 200 million to 100 million.
BNB is also used on the exchange to participate in launchpad events, which are similar to Initial Coin Offerings (ICO).
On the Binance Smart Chain (a smart contract platform developed by Binance based on Ethereum’s codebase), BNB is used to pay gas fees and has a central role in many DeFi applications (dapps). In this way, it is very similar to the role of ETH on Ethereum.
For instance, users can deposit BNB to provide liquidity on the PancakeSwap DEX or be traded for BEP-20 tokens (The BSC version of ERC-20 tokens).
| Coin symbol | XMR |
|---|---|
| Coin Marketcap | US$3,156,818,576 |
| Circulating XMR | 18,147,820 |
| Current price | US$173.75 |
| All time high | US$542.33 |
| All time high date | January 09, 2018 |
| Notable team members | Riccardo Spagni |
| Industry | Privacy coins |
| Token uses | Digital currency |
| Network | Monero |
Historical prices compared with the price of US$173.75.
| 1 hour | -0.93% |
|---|---|
| 24 hours | -6.47% |
| 7 days | -3.20% |
| 14 days | 3.55% |
| 30 days | 17.93% |
|---|---|
| 60 days | 20.56% |
| 200 days | 29.80% |
| 1 year | 17.35% |
Disclaimer: Cryptocurrencies, including Monero, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of XMR is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Monero or any other cryptocurrency discussed.
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