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Monero [XMR] picks up the sword against illegal mining and cyber-criminals

Priyamvada Singh

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Monero is a cryptocurrency that has been amidst many controversies from time to time. One of the biggest accusations faced by the ecosystem is the frequented instances of crypto-jacking via its mining software, Coinhive. A week ago, Monero p
Source: Pixabay

Monero is a cryptocurrency that has been amidst many controversies time and again. One of the biggest accusations faced by the ecosystem is the frequented instances of crypto-jacking via its mining software, Coinhive. A week ago, Monero announced the launch of a website that educates users on how to remove Monero mining malware from their systems, hence securing it from attacks and illegal mining.

The blog titled ‘Introducing the Monero Malware Response Workgroup Website’ discussed how the privacy feature of Monero helps many but is also exploited by criminal groups. Justin Ehrenhofer, a member of the Monero ecosystem and the author of the blog wrote:



“While restricting mining to specialized equipment largely eliminates malicious mining, it doesn’t eliminate ransomware, and it introduces security compromises that the Monero community is not comfortable with. […] he Monero community does not want to sit idly by as victims struggle to understand the impact of mining and ransomware.”

This announcement is not the only positive news floating around the cryptocurrency space for Monero. Recently, the cryptocurrency mining company ViaBTC announced the launch of a Monero mining pool wherein they relaxed the mining fees by 50% for the first three months.

Monero is the most highlighted among the privacy coins in the cryptocurrency space. Many oppose the privacy feature of the coin as it compromises the safety of the users and can be exploited by cybercriminals. To give a user an added privacy, the transactions use ring signatures. This ensures that the details of the transactions, such as the addresses of the parties involved and the amount transacted are hidden and untraceable on the network.





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Analysis

Ethereum [ETH] and Tron [TRX] Price Analysis: TRX tries to join ETH on the bull wagon

Arijit Sarkar

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Ethereum [ETH] and Tron [TRX] Price Analysis: ETH enjoys the bullish trend while TRX tries to join the bull wagon
Credit: Pixabay

The cryptocurrency market continued to consolidate after days of bullish movements. Tron [TRX] was back in the 12th position on CoinMarketCap and continued its sideways trend. Ethereum [ETH] maintained its market position as the market’s best performing altcoin.

Ethereum [ETH] 1-Day

Source: TradingView

The 1-day reading for Ethereum [ETH] showed that the altcoin enjoyed a strong bull market throughout the year, with no visible resistance to break. The cryptocurrency’s bull run was the strongest over the last week, enabling investors to enjoy a 38% growth in ETH value. Following the spike, ETH settled at $257.51, and held a market cap of $27.3 billion. It had a 24-hour trading volume of $11.8 billion, at press time.

Bollinger Bands: The upper and lower bands have been diverging over the month, suggesting high volatility and a bullish trend

Awesome Oscillator: On the other hand, the red histogram projections in the AO displayed a rising selling pressure for the ETH market

Relative Strength Index: The token continued to be traced across the overbought zone.

Tron [TRX] 1-Day

Source: TradingView

Resistance 1: $0.0308

Contrary to Justin Sun’s promise of TRX’s bullish future, Tron [TRX] witnessed a drop in its position owing to BSV’s brief pump, before the status quo was restored again. During the 24 hour reading, the coin grew by 1.58% and traded at $0.0286, with its resistance at $0.0308, at press time. It held a market cap of $1.9 billion and a 24-hour trading volume of $737 million.

MACD: The MACD line over the the reading line and suggested a bullish market for TRX

Chaikin Money Flow: The CMF plot hovered very close to the zero line, suggesting an equilibrium in the capital flowing in and out of the TRX market

Parabolic SAR: The alignment of the dotted markers below the candlesticks suggested a bullish phase for the market



Conclusion

Ethereum [ETH] continued to consolidate its position in the market, while Tron [TRX] was making progress in breaking from its perpetual sideways movement.





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