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Price Analysis

Monero Price Analysis: Drones Will Be Used To Safeguard The Monero (XMR) Blockchain

The latest version v0.14.1.0 release of Monero (XMR) marks the introduction of Trezor support for the model T. At present, the guide is in command line interface, but a GUI version will be made available soon. Recently, Astral AR, a Texas-based company, specializing in safety drones, and Core Scientific, a blockchain infrastructure and AI firm, announced a partnership with Monero that puts mining software on high-power safety drones. The new venture will be called “Project Palladium.” Under the project, Astral AR will use Core Scientific’s proprietary software, Minder and MinderOS, to monetize unused processing power on sophisticated safety drones to secure the Monero blockchain.

XMR Current Statistics:

Monero price chart - june 17

  • On June 17, at UTC 10:38, XMR to USD was trading around 98.294 USD.
  • Again, Monero vs. Bitcoin was trading at 0.01081157 BTC.
  • Additionally, the Market Cap of the XMR coin was 1,661,757,258 USD.
  • With an ROI of 3,840.72%, the 24-hrs trading volume in Monero was 209,362,608 USD.
  • The total XMR coin circulating in the market were 17,046,745 XMR.

Monero Price Comparison:

25-days back, on May 20, Monero (XMR) was trading at $87.604. Nevertheless, from there, the coin showed growth by a huge margin of 12.2%. Similarly, in the weekly chart, the crypto was moving up and made a jump of 13.85% from the trading price of 86.48 USD on June 10.

Monero Price Prediction:

As per our speculation, Monero might cross the $100 mark in next few days if this bullish trend continues. Additionally, there is a support level at $88, and a revised short-term resistance at $95. We wanted to revise our long term prediction for the coin, which was $100 by the EOY, but this bull run might be a short term spike and will access the new long term target after the market correction.

Conclusion:

At present, the market is filled with positive sentiments, and that can be observed in most of the cryptocurrencies. But, for how long this will persist is the bigger question. With that said, be sure of one thing, which is that the Monero Foundation is making a number of structural and fundamental changes which ultimately will strengthen the blockchain in the long run.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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