Connect with us

Altcoins

While the entire market drops Anonymity King Monero [XMR] wins – Highest among the Top 50!

Sthuthie Murthy

Published

on

Go Anonymous, Go Monero
Source: Flickr


Monero [XMR], unlike other cryptocurrencies, allows complete private transactions and has had a huge increase in worth over the past week, going up by 23% – highest increase witnessed in the Top 50 tokens according to coin market cap. The supply of the currency is said to be infinite with the available amount until 2022. The creation per hour at this point is 18 Monero.

Even in the past 24 hours, it has increased by 2.32% closing at $360.08 USD at press time, still ranking at the 9th position in the market.

HitBTC, Bitfinex, Bithumb, Binance, etc are few exchanges where Monero is traded with a market cap of roughly $5.6 billion.

Riccardo Spagni, a Monero follower tweeted:

“Even if this never gets past the Monero Research Lab’s review (its consensus critical after all) *THIS* is how you give back to a parent project you’re fork from.”

Some ‘neo-Nazis’ are opting Monero since Bitcoin is bottle-necked at exchanges and browser-based mining is becoming more popular. Monero is partially obfuscated, giving it extra privacy features which makes it even more difficult to trace.

Monero blockchain exploring website does not allow anybody to look up for specific users’ address. If in case somebody tries to do the same, a message saying, “Hmmm… it really looks like you were, like, trying to check out this dude’s balance. Well, Monero says ‘No’!” is returned.

This is what demarcates the coin and keeps it on the top. The hard fork of Monero V and the addition of Monero to certain exchanges in India has had the community buzzing about Monero.

Without any specialized equipment, XMR can be mined in a browser. This privacy focus is likely why ‘neo-Nazis’ are encouraging more users towards Monero. This extra bit of privacy will help combat the increase in centralization, scrutiny of Bitcoin and bottle-necking. This feature is an upper hand especially with regard to using the coin with an online wallet or trading services.

Wamshi, a YouTuber and a small amount of Monero owner quoted in one of his videos:

“Even if mining the currency itself is unfeasible for neo-Nazis, moving funds through Monero has a clear benefit. This is a problem that is affecting people around me, and Monero is solving the problem.”

Ari Paul, an investor says:

“I’m fond of saying that in some ways, Monero is more Bitcoin than Bitcoin.”

Steven Calderon, a Bitcoin miner from Austin says,

“Monero’s consistent resistance to drop despite the fact that the entire market has been dropping by 10% on an average is a testament in itself. XMR is the next big king.”





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Partner

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement