Cryptocurrency4 hours ago (Mar 13, 2022 01:30AM ET)
Monero ($XMR) Price Updates, Recent Developments, Future Events, Community
- Monero ($XMR) uses a cryptographic process to ensure that transactions cannot be linked to wallet holders and are untraceable.
- $XMR spiked as high as $206.51 in the last seven days due to the increased demand for privacy coins.
- Exodus Wallet announced its plans to add the Monero ($XMR) cryptocurrency token on the Trezor blockchain by the end of June 2022.
- PrimeXBT listed Monero (XMR) for live trading.
Monero ($XMR) is a privacy-focused cryptocurrency specifically developed as a means of allowing users to conduct anonymous and untraceable transactions through the utilization of a variety of different cryptographic technologies. Additionally, Monero undergoes regular protocol changes to the mining algorithm it has and is constantly being improved upon.
The technology responsible for ensuring that all of this works efficiently is known as Ring Signatures, which are used as a means of mixing the digital signature of an individual making an XMR transaction with those of other users prior to recording it on the blockchain.
Monero ($XMR) has seen a rapid growth in value, which is one of the main reasons why it has become one of the most popular privacy-oriented cryptocurrencies out there.
When we go over the performance of the token throughout the last week, its 7-day low was on March 7, when the token decreased in value to $153.75, while its 7-day high was on March 9, when the token increased in value to $206.51.
The seven-day price chart for Monero ($XMR). Source: Coinmarketcap
Going over the token’s 24-hour performance, its low was at a value of $172.32, while its 24-hour high was at $197.04.
The 24-hour price chart for Monero ($XMR). Source: Coinmarketcap
On January 6, 2022, we saw the release of the Monero GUI 0.17.3.1 ‘Oxygen Orion.’ There were numerous improvements made through this update, such as a fix of the startup crash on Apple (NASDAQ:) Silicon, a fix to the wizard password not resetting after wallet creation, update translations, and minor bug fixes and UI improvements.
Additionally, a GitHub user known as reemuru shared a lightweight browser extension that provides a simple UI for a Monero wallet. Monero also saw the launch of P2Pool v1.8.
Cake Technologies also released Monero.com v1.0.2/1.0.3/1.0.4 and Cake Wallet v4.3.6/4.3.7/4.3.8.
Hash Strongman also added a Monero module to the Learn Crypto Course, and there were 4 MoneroKon 2022 planning meetings throughout February.
There was also the launch of RINO wallet, which is now in a public beta. It is essentially a multisig, enterprise-grade Monero wallet.
On March 3, PrimeXBT listed Monero (XMR) for live trading.
In terms of future events and developments, Exodus Wallet is planning to add support for Monero on the Trezor blockchain by the end of June 2022.
Monerujo, the first Monero mobile wallet app, announced that their SideKick project got fully funded, and we can expect an official release going forward.
Additionally, Haveno announced that they would become more decentralized and a key contributor to Monero’s development.
On the Flipside
- Monero ($XMR) has mainly spiked in popularity due to the fact that it is a privacy token and allows its users to anonymously conduct transactions, but after its initial spike, it has been steadily declining in value.
Twitter (NYSE:) user @McKibbinUSA shared excitement over the growth of the $XMR token, where he posted an image buying the cryptocurrency: “Someone just bought some #Monero $XMR!”.
Someone just bought some #Monero $XMR! pic.twitter.com/rGRJD7iL4x
— Dr William McKibbin (@McKibbinUSA) March 8, 2022
Another user, @fewseethis, showcased how he has an interest in loading up on $XMR and shared charts which are an indication that privacy coins are starting to pump up:
i’m looking to load up on $xmr here. privacy coin with a long history and an explosive potential showing early signs of a possible lift offnarratives are all important lately. other privacy coins starting to pump as well = a trend may be formingcharts tell the story very well pic.twitter.com/QyhAOjG7CZ
— few (@fewseethis) March 9, 2022
Another user, @CryptoTea_, shared a perspective on how the value of $XMR is climbing:
Massive wick up on #Monero #XMR pic.twitter.com/QF1LgKzstH
— Crypto Tea (@CryptoTea_) March 8, 2022
Why You Should Care
As cryptocurrency enthusiasts turn to privacy tokens as a means of conducting transactions a lot more anonymously, Monero ($XMR) is one of the leading tokens which has a lot of room for growth.
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