Summary of Monero Week: XMR marches as private, secure and currently decentralized cryptocurrency


Monero has been quite lively recently. Starting in August at 121.92 $ / 0.01580760 BTC, Monero moved to the monthly lows of $ 79.24 / 0.01330030 BTC on the 14th before moving on to a series of up and down movements. August was closed at a price of $ 117.41 / 0.01669620 BTC in the middle of an upward trend which saw the XMR almost double in value compared to the 19459003 lows of August 14 to $ 139.56 / 0.01911650 BTC on September 4 th .

Since then, the currency has managed to fall below $ 100 USD on 12 before re-activating the repeaters for another positive run that has lasted until today. An XMR is currently valued at
$ 120.03 USD (5.28% increase over the last 24 hours) / 0.01839424 BTC (4.5% increase over the last 24 hours). The daily trading volume is equal to 6,915 BTC, while HitBTC (24.5%), Bithumb (20%) and Binance (13%) are responsible for the majority. With a market capitalization of $ 1,969,634.167, Monero is the 9th th most important cryptocurrency in the world at the time.

Avalontrading thinks it might be a good time to shorten Monero:

"See a good area to call in shorts
Expect a withdrawal movement
Monero is in a growing wedge, very often these figures are triggered down "

Recently we have seen a couple of important updates regarding Monero. Satis Group, ICO's consulting and research group, analyzed the cryptographic market and determined that Monero has the opportunity to see its current capitalization increased by 38391% over the next 10 years. If this were to prove true, Monero could potentially reach the price of $ 18.498 in five years.

"Based on our expected growth of targeted markets by cryptoassets and defined quotas within each peer group, we believe that the biggest opportunity for cryptoassets will be in reserve of value markets (which drives a substantial increase in particular for XMR and BTC in the table above). "

The 19-page publication analyzes many other cryptocurrencies, their evaluations and potentialities and is a good read for anyone interested.

We also received an update regarding the Kovri free decentralized anonymity technology, developed by Monero. The technology is based on I2P's open specifications and uses both garlic cryptography and garlic routing to create a secure private overlay network over the Internet. The technology was presented during a recent Monero meeting in Los Angeles; here you can see the complete video recording of the presentation. Speaking of video presentations, the official YouTube channel of the team, Monero Talk, has released a talk with Justin Ehrenhofer (aka @SamsungGalaxyPlayer) of Monero entitled "Ring Signatures and more with Justin Ehrenhofer". Topics such as ring signatures, crypto-fungibility, privacy and many others were addressed during this one and a half hour long conversation.

🏆Dash vs. bitcoin and Monero vs bitcoin shows the advantages and disadvantages of BTC compared to the more popular private coins. [19659010] The X-Wallet project connected to Monero has recently released a v1.7 version of its software. This iOS-based portfolio is proud to allow "no loss of privacy through exchange additions, no bullshit, no parties, no tokens, no bullshit" and its latest version allows users to use the Apple Watch PIN + 6 digits for protect the wallet with 2FA. You can also view your Monero receiving address as a QR code on your Apple Watch, so you can get around paid all day.

In other updates, the project plans to hold a couple of meetings / talks in September. Sarang Noether from Monero Research Lab and Diego "rehar" Salazar will both speak at Discover Blockchains in Houston on September 16th. There is also a Monero meeting planned by xCubicle to be held in New York on 27 September. Among the special guests are the founder of Wallet IOS Monero Wallet App, the collaborator of Monero Diego "rehar" Salazar and the podcast hosts Monero Talk.

Overall, Monero's path towards the dominant currency of the cryptocurrency market seems more clear from day to day. Monetary technology and mandatory privacy certainly make Monero one of the safest platforms and it will be interesting to see if any competitor is able to achieve it.

Writers and authors of CaptainAltcoin posts may or may not have acquired an interest in any of the projects and businesses mentioned. None of the contents on CaptainAltcoin is an investment advice nor a substitute for advice from a certified financial planner.

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