What is Monero Coin Exchange Rate?

Monero Coin Exchange rate refers to the prices of the Monero cryptocurrency as against different cryptocurrencies or against different fiat currencies of the world. Like any other commodity or share the prices of Monero currency keep on changing depending upon the demand and supply equilibrium by the users. The prices of the Monero keeps on changing as per the need which is made up in the market due to the speculations as posed by the cryptocurrency enthusiasts all around the world. Sometimes the prices go high and sometimes they touch the bottom. Right now the world is witnessing a mania in the prices of cryptocurrencies in general and Monero in particular.

After the Thanksgiving Day which is celebrated in the United States of America and Western Europe, the cryptocurrency world has seen unprecedented growths all around the corner. The premium cryptocurrency Bitcoin has erupted by becoming 4 times of its value a year before. This is all due to the shortage of Bitcoin as by the algorithm which is underlying the blockchain of Bitcoin has put an upper limit on the total number of coins which would ever be generated. For Bitcoin, the number is 81 million coins. While for the Litecoin which is a bit improvement over the privacy aspects of Bitcoin the total number of coins which would ever be generated in 84 million.

The mining process of the cryptocurrency is hardware intensive and cost prohibitive process, therefore, the speed of generation of new cryptocurrency particularly for Monero is not as per the demand which has suddenly erupted by the closing of the year 2017. Therefore the price has reached unprecedented heights and the exchange rate for Monero cryptocurrency became very much higher. The exchange rate would fall if there is not sufficient demand in the market. Similarly, the prices could again reach new heights if the demand is implemented thereby causing Monero coin exchange rate to become higher again.

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