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Although there are many cryptocurrency gains to keep an eye on at this time, Monero must never be neglected. This anonymous cryptocurrency has a loyal following and is renowned for its technical developments that leave all other currencies in the dust. In the last few hours, Monero's price has risen steadily, and a jump to $ 120 is not entirely out of the question.
Monero Price Rise is quite compelling
It has been a very interesting year for Monero, although not necessarily for the reason that people could expect. Its association with encryption and malicious mining has been well documented, although it seems that the rest of the community is not too worried about this development. It is one of the downsides of being an easily removable currency with normal computer hardware.
In the last 24 hours, the Monero price seems to be on the rise again. Its value has successfully exceeded $ 110 after a 4.5% gain in USD and a 4% gain on Bitcoin. This last part is the most important thing to keep an eye on right now, since Bitcoin is the only currency in the top 10 that is going through a bit of trouble.
Surprisingly, it seems that many people classify Monero in the same category as Litecoin when it comes to the current bullish trend that has an effect on cryptocurrencies. This shows that Monero is considered a "key" currency in the larger scheme of things. After the recent implementation of Bulletproofs, it is normal for more people to start paying attention to XMR.
#Monero [[[[#XMR]is #Litecoin [[[[#LTC]increase in the market to show their support for the bull from Ambcrypto – #Altcoins #News #Social #TradingView – Further information on https://t.co/FPaQd72PYn pic.twitter.com/aWqzYPdT1R
– Criptalk (@criptalk_com) 5 November 2018
Furthermore, the XMR trading demand is increasing on some platforms. While Blockium may not be the largest trading platform, it is a platform where XMR seems to be thriving. This is a positive sign first of all, above all because XMR has always had liquidity problems in terms of overall trading volume.
October data, based on 50K Blockium dealers.
Most of the crptocurrency activities traded are:#bitcoin #Veritaseum#ethereum #BitcoinCash # 0x (#ZRX)#XRP #Metaverse (#ETP)#EOS #Monero (#XMR)#Tierion (TNT)Join blockium for free👉 https://t.co/uWLc205I70 pic.twitter.com/rQdItqiZpD
– Blockium.io (@Blockium_io) 5 November 2018
Although Monero gets a bit of a bad reputation in the mining industry, it is also very accessible. More specifically, InsideCryptoCoins states that XMR is the most profitable for me using normal computer graphics cards. This means that XMR exceeds ZCash, Ethereum and Ethereum Classic in that department. A very special development, which highlights the potential of XMR in the future.
Monero #XMR is currently the most profitable currency with mine using GPU units, is winning on Ethereum #ETH Ethereum Classic #ETC and Zcash #ZEC since January 2018 👉🏽 https://t.co/eepdp4axyv #Extraction #profitability #profit #cryptocurrencies pic.twitter.com/Bt8vr8TiUr
– InsideCryptoCoins.com (@ insidecrypto365) 5 November 2018
With all these developments taking place, it will be interesting to see what the future holds for the Monero price. There is a good success going on to reach $ 115 in the next few days, although there is still a huge market momentum. It is nice to see the technically valid cryptographic projects finally get the attention they deserve, as Monero has a proven track record.
Disclaimer: this is not about trading or investment advice. The article above is for entertainment and training purposes only. Please do your own research before buying or investing in any cryptocurrency.
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