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Tag: Monero

  • Some Coins that know how to stay in Light

    Monero (XMR)

    XMR uses cutting-edge cryptography to make senders and recipients equally anonymous. Its objective is straightforward: to permit transactions to be carried out secretly and anonymously. At the time of writing, Monero is being traded at the rate of $150.74. It has gained 3.96% in the last 24 hours. The trading volume in the last 24 hours is around $189,671,445.

    Lido Finance (LIDO)

    For Ethereum, Lido is a liquid staking solution. Lido allows users to bet their ETH without requiring any minimum deposits or infrastructure upkeep. At the time of writing, LDO is being traded at the rate of $1.49. it has lost 13.51% in the last 24 hours. The trading volume in the last 24 hours is around $115,970,119.43.

    USDC

    The stable coin of the Terra Network had its value pegged to Dollar. After the collapse, USDC still hasn’t been able to recover from the damage. It is being traded at the price of $0.037. It has lost almost 12% in its value in the past 24 hours.

    Gala (GALA)

    GALA helps the users with the ownership of the gaming experience. At the time of writing, GALA is being traded at the rate of $0.05264. It has lost 10.24% in the last 24 hours. The trading volume in the last 24 hours is around $329,877,845.

    Waves (WAVES)

    Waves still haven’t been able to recover from the damage caused by the information that was leaked. At the time of writing, WAVES is being traded at the price of almost $5.55. In the past 24 hours, the price has dropped by almost 10% making it one of the top losers today.

    Fantom (FTM)

    Fantom (FTM) suffered a major blow when Andre left the network, ever since then, the price has dropped continuously. In the past 24 hours, the price has dropped by almost 10% and now is being traded at the price of almost $0.3077.

    All-Time High Coins

    Furio (FUR)

    It is a project that is based on Defi and is going to have its own ecosystem. At the time of writing, FUR is being traded at the price of almost $14.06. Today it went on to touch a new all-time high at a price of almost $14.11.

    Olive (OLV)

    It is based on a new concept of Eat to Earn. This project allows people to earn coins to imagine, create, and share everything they can. At the time of writing, OLV is being traded at the price of almost $0.833. Today it went into price discovery and touched a value of $0.873.

    MetFX (MFX)

    Based on a new method known as Watch to Earn, this project allows its users to get coins as they watch videos. It utilizes the watch time and provides monetary benefits to its users. $0.00742. It went on to touch $0.00802.

    Creature Hunters (CHTS)

    It is an online puzzle game that uses the technology of NFTS. The coin is being traded at the price of almost $0.179. This price is also its ATH value.

    BitBurn (BURN)

    It provides the 5% reflection value of BTC in the form of its own tokens. At the time, it is being traded at the price of almost $0.0714. This is also its ATH value.

  • Monero (XMR) – The Privacy Token

    Monero (XMR) – The Privacy Token

    One of the reasons why people are fed up with a centralized system of banking is the power of institutions to have information over your daily transactions. Although to a lesser extent, the same problem persists in Bitcoin and Ethereum. Monero wants to resolve this issue by creating a blockchain that can ascribe complete privacy to the user. (It is rumored that due to the anonymity of the creators of XMR, it is a pet project of Satoshi Nakamoto, the inventor of Bitcoin)

    Monero aims to achieve this through three technologies. These are the Stealth Addresses, Ring Signature, and Ring CT. The Stealth Addresses have a unique address belonging to a particular user sent through other addresses to a receiver of XMR (the native token of Monero). The Ring Signature allows a particular member of a particular group without revealing who was the member even though the one with the ring signature verifies the transaction. Finally, there is the Ring CT (Confidential Transactions) technology. The Ring CT provides an extra layer to the ring signature concept above.

    At the time when the article is being put down into words, the value of XMR is around $178.22 with a trading volume of $186,166,973, which is a 15% decrease over the past twenty-four hours. The coin is peculiar in the sense that it does not have a max supply. This is because Monero has a natural restriction based only on the implementation of the token rather than an arbitrary number that will be enough. Currently, there are 18,126,978 XMR in circulation.

    Speaking a little on the movement of the coin, In the last seven days, it has been subject to a tumultuous tug of war between the bears and the bulls. It started at $171 and reached $204 on the 26th. It seems that there is bulk buying during the dips and excessive selling during the peaks. But the momentum is now breaking off, and the value of XMR is returning to that value of $178. It may even fall further as XMR was one of the tokens that were able to sustain growth during the LUNA crisis. But regardless of its position right now, many predict the token to reach $500 in 5 years.

  • Why is Monero (XMR) Trending?

    The Monero (XMR) people group planned the v15 network upgrade for mid-July in the wake of arriving at an agreement – – an overhaul that exclude the “Monero 2.0” hard forks. In the meantime, some undertaking allies are attempting to organize “The Monerun.”

    Monero is set to hard fork on July sixteenth, 2022 at block 26688881, after the community has arrived at an agreement in the present Monero Development Workgroup meeting.

    The redesign is set to increment ring size, the complete number of underwriters in a ring mark, from the ongoing 11 to 16, as well as add view labels to yields to decrease the wallet filtering time, add Bulletproofs+, a zero-knowledge demonstrating framework that would supplant existing Bulletproofs to lessen exchange sizes by 5%, and bring some expense changes.

    Assuming things continue as expected, Monero would hard fork to a second-age convention called Seraphis and a new tending to conspire called Jamtis at some point somewhere in the range of 2023 and 2024, as per engineers.

    These progressions are broad to the point that you could call the subsequent digital money Monero 2.0, adding that this hard fork would bring better protection, change the design of exchanges as kept in the blockchain, and add new wallet types, among others.

    In the interim, Monero clients are supposed to pull out the entirety of their XMR tokens from incorporated crypto exchanges today. Called “The Monerun,” various Monero aficionados have tried to facilitate a supposed Monero bank run.

    The move comes as some Monero clients guarantee that unified trades are distorting saves and are “paper exchanging” monero. This is conceivable as a result of the protection coin’s jumbled record, which guarantees that any client can send and communicate exchanges however an external onlooker can’t perceive the sum, source, or objective.

    Monero’s jumbled record has empowered various trades to distort their stores and sell XMR that they don’t really have, knowing that very much a significant number of us won’t ever pull out, and nobody can see onchain the proof of their wrongdoings. Some crypto exchanges have allegedly ended Monero withdrawals.

  • Monero (XMR) – Enabling Anonymous Transactions

    Monero (XMR) – Enabling Anonymous Transactions

    Blockchains are thought to be anonymous, but are they? Yes, the transactions are quick and secure, but are they anonymous? No, it isn’t entirely true. Both the sender’s and receiver’s addresses are displayed, as well as information on the amount. These addresses can be traced back to their owners using modern forensics techniques. However, some people object to so much information being posted on the internet. Monero (XMR) is a cryptocurrency that solves this problem.

    Monero (XMR) is a cryptocurrency that enables anonymous transactions. Unlike other blockchains that display transaction data such as wallet addresses and transaction amounts, Monero hides everything. This has given Monero (XMR) an advantage over other currencies like Zcash, which has multiple varieties of anonymous transactions.

    Monero (XMR) employs a variety of security features to ensure that transactions remain totally anonymous. It generates stealth addresses, uses previous transactions as a decoy, and generates random chunks to ensure that everything happens in the correct order.

    Monero (XMR) has begun to be utilized for illegitimate and unlawful transactions as a result of this amazing piece of technology. It has been found that XMR is being used to do dealings on the dark web. It has become one of the most popular destinations for those who utilize and provide illegal services. As a result, there have been a slew of different bounties to crack the encryption.

    Price Movement – Monero (XMR)

    The coin had created its All-Time High in May 2021 and reached a price of almost $519.1 before falling down to a price of $180 in the next month. From here the price showed reversal. At the time of writing this article Monero (XMR) is being traded at a price of $241.71. The price has almost increased by 3.93% today. In this month alone the price has increased by only 1.01% though.

    The Total volume at the moment is $203,498,129 with an increase of 3.70% in the past 24 hours. The coin is listed on coinmarketcap on the 43rd spot and has a market dominance of about 0.17%.

    Long Term Price Prediction – Monero

    Wallet Investor thinks that XMR is a highly bullish coin and it would continue to rise in value. According to their prediction, in one year XMR will reach a value of $386.381. In a five-year plan, the price is expected to reach a value of $971.252. Traders think that it would soon reach the expected values in much less time.

  • Monero coin – Bearish momentum to continue or end?

    Monero coin – Bearish momentum to continue or end?

    Monero coin has shown signs of the onset of bullish momentum in the daily timeframe. The cryptocurrency had been falling since the beginning of June; however, the bearish momentum may have come to a halt. In the past seven days, Monero coin declined only by 3%. At the time of press, Monero stands at a price level of $190. The price has increased by more than 3% in the past twenty-four hours and the daily trading volume has also been climbing upwards.

    Monero Coin Technical Analysis

    The recent bullish momentum has not yet been translated to the technicals for the cryptocurrency. The market sentiment continues to be bearish for Monero. Out of the total twenty-six technical indicators, fourteen are giving out an indication of sell with eight standing at a neutral position and only four indications of buy. The oscillators are bullish while the moving averages suggest a downtrend.

    Monero Coin Technical Analysis
    Monero Coin Technical Analysis

    Despite the minor bullish divergence in the market, the short-term future prospects for Monero coin are bearish. A trader’s analysis shows the completion of a head and shoulder formation by the cryptocurrency. The H&S formation is a bearish pattern and has been completed by Monero. The pattern has been validated as Monero crossed the neckline of the formation. Monero coin can be expected to test crucial support levels in the upcoming days. The first Fibonacci support level can be found at $184 followed by $137 and $118.

    Monero coin in the long run

    Monero is one of the most popular privacy coins – if not the most – in the market. Privacy coins offers the anonymity that giants like Bitcoin and Ethereum lack which makes them an attractive prospect. The long-term price projections for Monero are; hence, positive. Per the estimates of Wallet Investor, Monero coin will be operating at a price level of $335 in a year’s time while the five-year price will be at $879. Digital Coin Price predicts similar projections with the price hitting $395 in 2023 and crossing $821 by 2028.

    So, even if the bears continue to dominate the market in the short run, the cryptocurrency is expected to ultimately cross $800 in the long-term and reach even higher.

  • Monero (XMR) coin bullish price prediction despite short-term bearishness

    Monero (XMR) coin bullish price prediction despite short-term bearishness

    Monero (XMR) has been trending downwards since the all-time high was established in the beginning of May. The cryptocurrency continues with indecisive price action before moving lower. At the time of writing, Monero stands at a price level of $196. The price of the cryptocurrency has dropped by 6% in the past twenty-four hours while the trading volume is also moving down. XMR coin has also been moving down in the weekly timeframe with a loss of 13%.

    Monero (XMR) technical analysis

    The market outlook for the cryptocurrency is bearish. Out of the total twenty-six technical indicators, fifteen are giving out an indication of sell with ten indicators standing at a neutral position and only one indicator suggesting a buy. The oscillators are neutral while the moving averages are strongly bearish.

    Monero (XMR) technical analysis
    Monero (XMR) technical analysis

    Although Monero coin has been trending downwards, the cryptocurrency may show signs of oncoming bullish momentum soon. A trader’s analysis reveals two supporting levels for the cryptocurrency. Given the bearish pressure in the market, XMR crypto was expected to move lower; however, it moved upwards instead. Monero is approaching the support level which lies at $200. If the support is established then some bullish divergence can be restored to the market.

    Is Monero (XMR) a good long-term investment?

    Monero (XMR) is one of the top privacy coins in the market. As concerns about privacy of cryptocurrencies are increasing, privacy coins like Monero are gaining more popularity – which makes them an ideal long-term investment. Although there are downsides of increased privacy and anonymity, privacy coins are still considered an attractive proposition. The long-term price prediction for Monero is bullish. The estimates of Wallet Investor places Monero coin at a price level of $350 in a year’s time while the 5-year forecast predicts a price of $889. Digital Coin Price projects a similar trajectory for the cryptocurrency. Per their projections, Monero will end the year with a price of $301 and move towards $850 in 2028.

  • Monero (XMR) coin upcoming price action

    Monero (XMR) coin upcoming price action

    Monero (XMR) has been under the bears as the market crashed after the bull run. Monero dropped to as low as $202 but it appears as though the cryptocurrency may soon reverse the trend. At the time of writing, XMR coin stands at a price level of $227. The price of the cryptocurrency has been gaining in the past twenty-four hours and so has been the trading volume.

    Monero (XMR) technical analysis

    The market outlook for Monero crypto is neutral which may indicate the onset of bullish momentum in the market. Out of the total technical indicators, ten are standing at a neutral position with nine giving out a sell signal and seven indications of buy. The oscillators are neutral as the price of the cryptocurrency may be consolidating while the moving averages suggest a bearish signal overall.

    Monero (XMR) technical analysis
    Monero (XMR) technical analysis

    Monero coin has been identified to have formed a falling wedge formation. The cryptocurrency has been experiencing decreased volatility inside the formation as it nears a break out. The falling wedge is a bullish pattern although the unpredictability of the market may lead to a downside breakout. Up till now, the price movements of XMR coin hints towards a possible upside break out from the formation. If the break out occurs upwards, the price level of $260 may be validated as the potential price target.

    New Monero mining malware

    Monero being a privacy coin can also prove to be useful for hackers. Where the anonymity and privacy of the cryptocurrency is what sets it apart, it also makes it a hotspot for cybercrime. Avast Antivirus has detected a new Monero mining malware called “Crackonosh”.Crackonosh is an advanced malware which can disable anti-virus mechanisms easily. Monero is being used by hackers to hijack computing resources for mining. A report also claims that Monero’s mining malware is responsible for 4% of its circulation. If the development team does not come up with a solution for this, the privacy feature may lead the cryptocurrency to its downfall.

  • Monero (XMR) coin year in review and future predictions

    Monero (XMR) coin year in review and future predictions

    Monero (XMR) established its all-time high at $517 two weeks ago. The cryptocurrency has since fallen amidst the market dip. At the time of writing, Monero stands at a price level of $289 with the price increasing in the daily timeframe. Monero is considered as the de facto market leader of privacy coins. The coin often times get preferred to competitors like ZCash.

    Monero (XMR) Adoption and Acceptance

    Like all cryptocurrencies, Monero (XMR) saw huge growth in the year 2021. The cryptocurrency also saw a wide acceptance and adoption. Merchants all around have begun to consider the value that Monero provides because of its privacy features; hence, the project was able to bag various partnerships. Merchants in the block exploring sector, payment gateways, webhosting, entertainment and many more accepted Monero as a mode of payment and with the time the list continues to grow.

    It is not just merchants and retailers that are flocking to the privacy coin. Pro-privacy organizations and a number of free and open-source software (FOSS) projects have also incorporated Monero as a mode of payment.

    Monero (XMR) statistics

    • Monero’s transactions per day increased from 7,000 to 10,000 in the year 2019 – 2020 while the transactions saw a further increase to 23,000 per day in 2021
    • Monero’s blockchain grew by 13.34GB in 2021 compared to the 7.41GB growth in 2020
    • The year-on-year growth of the blockchain saw a 180% increase; however, the average size of a transaction fell by 13.76% YoY
    • Monero’s block subsidy (emission) dropped by 39% from 2020 to 2021
    • For the total transactions in 2021, the fees averaged at $0.0003211 while for 2020 the figure was at $0.0003916

    Monero (XMR) Technical Analysis

    Monero coin’s market sentiment in bearish – in line with the sentiment of the overall market. A majority of the technical indicators are giving out a signal of sell.

    Monero (XMR) Technical Analysis
    Monero (XMR) Technical Analysis

    A trader had identified a possible future trajectory for XMR coin. Per the trader’s analysis, Monero is expected to be operating on an Elliot wave count. The cryptocurrency is currently under pullbacks but it is expected to soon go upwards to nearly $350.

    Long Forecasts projects show that Monero crypto will close the year with a price level of $306 while the price may reach towards $500 in 2022. Digital Coin Price is extremely bullish on the cryptocurrency and expects that Monero will end the year with a price of $447. The five-year projection shows Monero at a price level of $1,258.

  • Monero (XMR) bullish: Heading towards 0?

    Monero (XMR) bullish: Heading towards $500?

    Monero (XMR) has increased by 350% in the yearly timeframe. The coin had established its all-time high at $485 in the bull run of 2017. Even though the Monero coin is under bullish pressures, the cryptocurrency has not yet been able to break its ATH. At the time of writing, Monero stands at a price of $419. The price has fallen by 5% while the daily trading volume has decreased by 25% in the past twenty hours. Monero stands at 21st position in the market with the capitalization of the coin also falling.

    Monero (XMR) Technical Analysis

    The market sentiment for the Monero coin is bullish with a majority of the technical indicators giving out a buy signal. Out of the 26 technical indicators, fourteen stand at a buy position while nine are neutral indications with only three sell signals. The breakdown of the indicators is such that oscillators are standing at a neutral position while the moving averages are strongly bullish.

    Monero (XMR) Technical Analysis
    Monero (XMR) Technical Analysis

    A trader has identified an upwards trajectory for the Monero coin. The trader has set a price target of $550. The coin is having strong support at the price level of $312. The trader is also expecting a possible crossover of exponential moving averages with the price currently moving above the 55 moving average.

    Recent developments

    Monero coin has been getting increased traction as the cryptocurrency market exploded. The community of XMR had a role to play in the rise of Monero. The community of Monero had been pushing towards Monero being accepted as a payment method for Tesla. Although the efforts have not been fruitful and Tesla only announced accepting Bitcoin as a payment method, it still resulted in attracting a wider audience.

    The development team of Monero has also been working diligently on creating a trustless swap between Monero and Bitcoin. Farcaster is the project dedicated towards atomic swaps while COMIT is tasked with creating a swap tool. Moreover, THORChain has also announced a partnership with Haven in order to integrate Monero into its blockchain.

    Trvala.com, the first cryptocurrency bases travel services company, has also announced the integration of Monero as a payment method. The privacy coin can now be used to pay for more than 2 million travel products on the platform.