Monero (XMR) News – Monero (XMR) continues its slow march by gaining 12% in 1 month

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Monero (XMR) is one of the very few cryptocurrencies which provides completely anonymous transactions. It is possible for anyone to detect the transactions on the Monero (XMR) blockchain. Moreover, with the help of fungibility and anonymously, the transactions can be done without any fear of cracking or tracing it back. Even the authorities will not be able to track the transactions because that is how the blockchain of Monero (XMR) is built precisely. That is why it certainly holds some value.

Monero (XMR) continues its slow march by gaining 12% in one month:

When you look at the performance of Monero (XMR), it has gained approximately 12% in the last month. 30 days earlier, it was trading around $ 40.79. Currently, it is trading around $ 45.71. Today as well, it is higher by 1%. In the last 30 days, it has approximately gained 12%. It clearly indicates that investors are repurposing their faith in Monero (XMR).

When you look at the usage of Monero (XMR), you will realize that it has applications in the dark Web. Anonymous transactions are needed by many. That is why more and more businesses are starting to support Monero (XMR). It allows the customers to pay anonymously. The downside, however, is that not many exchanges are listing Monero (XMR). The authorities are moving towards regulatory framework which makes the cryptocurrency exchanges in the cryptocurrency framework much more transparent. Monero (XMR) however is precisely opposite.

The truth is that there is a place in the real world for completely anonymous cryptocurrencies. Not all of those transactions are illegal. However, many of those transactions are shady. Moreover, it has made Monero (XMR) a hotbed for Cryptojacking. In Cryptojacking, hackers use the computers of others without their permission to mine cryptocurrencies. That is why they need a cryptocurrency for mining which is entirely anonymous. Monero (XMR) so is the exact purpose. As a result, Monero (XMR) is a victim of Cryptojacking.

When you look at the fundamentals of Monero (XMR), you will realize that it is one of the very few cryptocurrencies which has actual users. The users cannot just switch to another cryptocurrency as per their convenience. They need to stick to Monero (XMR) if they want to use the anonymity of Monero (XMR).

The improving fundamentals and the increasing volumes reflect in the price movement of Monero (XMR). In the past month, it has surged by 12%. It remains to be seen whether the slow march continues or whether it holds.

About Riddhi 224 Articles
I am an electronics engineer and follow the crypto space closely.

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