On August 31, Monero [XMR] the privacy coin sitting at the 11th place in the CoinMarketCap rankings recorded an increase of 10.39% in the last 24 hours. At the time of the press, the cryptocurrency trades at $ 109.70 with a market capitalization of $ 1.79 billion
Although most of the altcoin proceed at a slow pace with the market being bearish, Monero is riding the bull and approaches a strong upward trend.
The initial dealing price of XMR in the last 24 hours was $ 99.20 with a market capitalization of $ 1.62 billion. In one day, market capitalization has increased by over one hundred million dollars. During the day, the price continued to rise and fall on a smaller scale, but it gained a flight and was trading at $ 100.19 in the middle of the day. From here, XMR continued to rise with insignificant final relapses, finally achieving a momentum.
The highest price that the currency traded today is $ 110.17 with a market capitalization of $ 1.8 billion. At the time of its price spike, 24-hour trading volume was $ 41.2 million. However, the price soon fell to $ 106.5, which was a noticeable drop compared to the previous ones during the day. The token started to rise again after having fluctuated for a short time.
Watching Monero's weekly progress in the cryptocurrency market, on 24 August, the currency was trading at $ 89.26 with a market capitalization of $ 1.45 billion. The steepest climb made by Monero's market capitalization amounted to about 350 million dollars. The lowest figure traded during the week was $ 88.92 with a market capitalization of $ 1.45 billion
In the past and recent past, Monero has been held responsible for more attacks and hacking activities , some of which have been debited through its mining protocol, Coinhive. Lately, the online comic portal Oatmeal was the victim of a DDoS attack in which the cybercriminal asked for a ransom of $ 300 for XMR.
DDoS stands for Distributed Denial of Service which is a type of cyber attack that allows the hacker to overwhelm a portal with excessive traffic from multiple sources to prevent its users from accessing it.
At the start of this year, websites of large corporations and government agencies were detected with Coinhive running in the background, occupying a large amount of computing power and XMR data mining automatically. The famous Amazon e-commerce portal was one of the victims of this mining scam.
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