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Monero (XMR) Jumps Nearly 10% Ahead of Hard Fork

Monero has been rising on CoinMarketCap when other cryptocurrencies are falling. The main reason for the rise is attributed to the upcoming hard fork planned around March 14

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Monero (XMR) Jumps Nearly 10% Ahead of Hard Fork

The market capitalization of cryptocurrency Monero is $5.5 billion

Monero (XMR) is an open source cryptocurrency created in April 2014 that focuses on privacy and decentralization. The currency uses a public ledger to record transactions while new units are created through a process known as mining. Monero is traded across all exchanges, the top three being Bithumb, Bitfinex and Binance. MoneroV will be created and Monero holders will receive a 10 coins of MoneroV for each coin of XMV. Monero is the only double digit gainer among the top 10 cryptocurrencies. Monero is believed to be the digital currency that is secure, private and untraceable.

Monero (XMR) Jumps Significantly Ahead of Hard Fork. 5 Things To Know

1. Monero's blockchain protects privacy in 3 ways. Ring signatures enable the sender to hide among other transaction outputs, stealth addresses hide the receiving address of the transaction and RingCT hides the amount of the transaction. As a result, Monero (XMR) encapsulates an ambiguous blockchain. This is in stark sharp contrast with transparent blockchain used by the most popular cryptocurrency Bitcoin. Which is why, Monero is said to be "private, optionally transparent".

2. Monero trades at $356 on March 3 in the afternoon trade.

3. A week ago, Monero closed at $273, 23% lower than the price on Saturday.

4. Two weeks ago, Monero closed at $325, not much different from the price on March 3, 2018

5. Three weeks ago, Monero closed at $250, as per the average trading price of cryptocurrencies in the cryptocurrency markets worldwide. The price was around 30% lower than today's price.

 


 

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