Price
$0.0109
11/30/2022, 8:09:37 PM
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Market

Market stats

Market cap

$542,638.87

Volume (24h)

$740.14

Circulating supply

49.7M SUMO

All time high

$11.74

Price change (1h)

+0.33%

Price change (24h)

+1.84%

Price change (7d)

-1.05%

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Sumokoin is on the decline this week.

The price of Sumokoin has fallen by 1.05% in the past 7 days. The price increased by 1.84% in the last 24 hours. In just the past hour, the price grew by 0.33%. The current price is $0.0109 per SUMO. Sumokoin is 99.91% below the all time high of $11.74.

The current circulating supply is 49,687,567.953 SUMO.

About

What Is Sumokoin (SUMO)?

Sumokoin (SUMO) is a digital currency created by mining and aims to be a highly secure asset used for value storage. The currency was forked for implementing a new ASIC-resistant hashing algorithm, a mechanism used to compare large data easily. A hash function converts input (such as text) into byte strings of fixed length and structure.

Sumokoin is a type of fork that originated from Monero, a highly respectable cryptocurrency known for privacy, active development, security, and untraceability. Monero (XMR) is a privacy-oriented, open-source cryptocurrency that uses a public distributed ledger. A public distributed ledger refers to a series of blocks on which details of transactions are recorded after suitable authentication and verification by the designated participants of the network.

As mentioned in the whitepaper, the developers started Sumokoin as an educational project. Later, it was identified that there is a need to create a new digital currency by moving toward Monero Ring confidential transactions (RingCT). Monero Ring confidential transactions (RingCT) is a feature designed for privacy that aims to be implemented into the Monero protocol. Furthermore, developers are seeking to set minimum transaction mixins to make SUMO highly resistant to blockchain analysis attacks. Mixins refer to the chaff coins included by the users to obscure their transactions.

Sumokoin (SUMO) is developed with a high level of privacy vision in mind, setting RingCT with a minimum ring size of 49 (48 mixings). The setting seeks to conceal amounts or sources transferred and enhance resistance to blockchain analysis. Sumokoin aims to be untraceable, and encrypted transacted amounts seek to be obfuscated by default. Every transaction on the Sumokoin blockchain aims to be not linked to a specific real-world or user identity.

Moreover, the whitepaper states that Sumokoin follows the vision of Satoshi Nakamoto of decentralized and trustless cryptocurrency, for instance, well-secured digital currency operated by a network of random users. The transaction is further confirmed by distributed consensus and later immutably recorded upon the blockchain. There aims to be absolutely no need to rely on third parties to keep the user's Sumokoin safe. Sumokoin is also highly fungible due to the built-in features seeking to ensure privacy. All Sumokoins are changeable and equal, just like currency.

History of Sumokoin (SUMO)

Sumokoin (SUMO) was officially launched by a team of developers working in Japan on May 7, 2017. In July 2017, Sumokoin wallet was released which was created in python. In January and February 2020, Web and Android wallet for SUMO was launched.

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FAQ

What is the current price of Sumokoin?

The price of 1 Sumokoin currently costs $0.0109.

What is the market cap of Sumokoin?

The current market cap of Sumokoin is $542.64K. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Sumokoin?

The all-time high of Sumokoin is $11.74. This all-time high is highest price paid for Sumokoin since it was launched.

What is the 24 hour trading volume of Sumokoin?

Over the last 24 hours, the trading volume of Sumokoin is $740.14.

What other assets are similar to Sumokoin?

Assets that have a similar market cap to Sumokoin include Cornichon, AME Chain, Aston Martin Cognizant Fan Token, and many others. To see a full list, see our comparable market cap assets.

How many Sumokoin are there?

The current circulating supply of Sumokoin is 50 million.