Cryptocurrency markets are always good for some degree of speculation. Albeit there is a very strong concentrate on the top Five cryptocurrencies right now, it seems the big verrassing of the day is none other than Monero. For some unknown reason, the anonymity-oriented cryptocurrency has risen overheen 14% ter value thesis past 24 hours. That is rather remarkable, albeit there could be many different reasons for this unexpected price movement.
Monero Price Surpasses US$45 Once Again
There have always bot a few cryptocurrencies which concentrate on the features Bitcoin can’t provide. Both privacy and anonymity are two traits often associated with Bitcoin, yet wrongfully so. The world’s leading cryptocurrency is pseudonymous, but offers no privacy or anonymity traits to speak of. While some people see this spil a weakness, it is overduidelijk Bitcoin is designed with thesis “flaws” ter mind.
Those who require more privacy and anonymity vereiste look into different cryptocurrencies to achieve that objective. Ethereum, Litecoin, and Ripple will not get you very far either. There are only two currencies te the top Ten which provide such features: Dash and Monero . However, Monero seems to have a gam up overheen Dash when it comes to anonymity, which is the opzicht the vast majority of community members desire the most. It is very worth your time to check out the Monero webstek to see how its anonymity is achieved.
It is safe to say thesis are rather interesting times for anyone who values privacy and anonymity te the cryptocurrency world. Two major darknet markets have bot shut down, both of which used Bitcoin spil their main currency. BitMixer is also on the way out , spil its technicus had a unexpected switch of heart and feels “other currencies” are better suited to use for anonymity reasons. Monero now has a legitimate chance of overtaking Bitcoin te this regard, spil people will have a rough time finding a trustworthy mixing service.
Whether or not this has had an effect on the Monero price is anybody’s guess right now. No one can deny the alternative cryptocurrency is on the rise spil wij speak. With a 14% build up te 24 hours, things are looking fairly promising for all XMR holders. Anyone who has bot keeping an eye on the Monero price will certainly be blessed with the way things are going right now. It is always interesting to see such unexpected price increases coming out of the blue.
The fatter question is what is driving this unexpected request for Monero. One could argue that with a price of US$45.88 compared to Dash’s value of US$198.Eighteen, Monero wasgoed due for a massive correction sooner or straks. After all, some people have felt Monero has far better technology compared to Dash. Then again, the latter cryptocurrency recently eyed its iOS wallet eventually approved by Apple and is presently railing the momentum of that news. It will be fairly interesting to keep a close eye on both currencies, that much is overduidelijk.
It emerges the majority of XMR trading volume originates from Poloniex. With both Bitcoin and Ethereum showcasing signs of sideways momentum, other currencies could see gains overheen the next few years. With a Monero price of US$46.09 at the time of writing, reaching the US$50 mark is not entirely unlikely if its volume keeps up. Right now, there is just overheen US$30M ter 24-hour volume, which is still pretty petite. The Monero price will be on many people’s radar today if this trend keeps up.
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About The Author
JP Buntinx is a FinTech and Bitcoin enthusiast living ter Belgium. His passion for finance and technology made him one of the world’s leading freelance Bitcoin writers, and he aims to achieve the same level of respect te the FinTech sector.