This week has been a bit 'friendly with digital currencies and the entire cryptographic space. Most coins exchange in green while others see a peak in trading volume. On Monday, many Monero dealers were amazed by the huge increase in the volume of Monero's trading [XMR].
Recently, most cryptographers were shocked when Monero's trading volume [XMR] increased by 500% within three days. Monero [XMR] It is the number one digital currency oriented to privacy in the world, and this makes it a preferred choice of currency for many.
The reason for the sudden peak in the volume of exchanges
The reason Monero's trading volume has seen such an increase is that Coinmarketcap.com has decided to list Bithumb's trading volume. Bithumb is one of the most popular digital currency trading platforms in Korea. The exchange represents about 85% of Monero's trading volume [XMR] Worldwide.
However, the sudden, huge increase in the volume of digital currency trading did not affect its value. This is because coinmarketcap.com was already considering the value of Bithumb.
Monero [XMR] It is one of the most dominant currencies in Korea
The highest trading volume of Monero [XMR] is anchored in Korean Won (XMR / KRW), according to coinmarketcap.com. The trading pair has a trading volume of $ 81 million at October 8, and this represents 85% of the total volume of digital currency trading at the time.
Monero [XMR] It is very popular in North Korea, according to CNBC. The non-traceability of the digital currency makes it easier for N. Koreans to circumvent the sanctions imposed by the United States and the UN.
Monero (XMR) Price today – XMR / USD
At the time of writing, Monero [XMR] it is changing hands to $ 114 after an increase of less than one percent in the past twenty-four hours. The digital currency currently has a market capitalization of $ 1.88 billion and its trading volume is now reduced to $ 61.56 million in the last twenty-four hours.