Home / Others / Monero (XMR) takes the lead as market rebounds and ETH Surges

Monero (XMR) takes the lead as market rebounds and ETH Surges

The cryptocurrency market appears to be returned with a bang today, with many coins exchanging up to 10 percent.

Monero is leading, almost 13 percent in the last 24 hours, trading at $ 111.34. The currency for privacy has fought for the ninth position with Cardano cryptocurrency (ADA) highly technical in recent days and now seems destined to keep its place.

Even Ethereum, which has had to face one of the worst events in history, today is almost 11%. It is slowly making its way up to $ 200, currently trading at $ 191.22.

For the first time in months, Bitcoin (BTC) is one of the weakest contenders in this recent market rebound, with gains just above 2 percent. The currency, however, managed to overcome the key resistance level of $ 6,400 and now looks set to continue in a rising phase.

The main competitor of Ripples Stellar (XLM) and Litecoin (LTC) are both growing by 10%, with XRP, EOS and BCH remaining behind the upward peak with only about 5% gains each [19659004] What prompted the abrupt relegation of altcoin is unclear although it is probably related to the extraction of Ethereum unprofitable recently, resulting in many miners stopping operations and difficulty of hashes are lowered a lot. This would result in an increase in the rate of coin extraction and, consequently, an increase in value.

This new rebound altcoin comes at a time when the market has almost lost its longest defeat since 2014. Back then, the overall value of the altcoin market fell by 86% in 266 days, almost the same percentage and the same time scale. After the decline in 2014, the market recovered over 100% in the following months.

Image From Shutterstock

Source link