Monero (XMR): Trends are Bearish Besides the Surge of Positive News Around the Cryptocurrency

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Monero (XMR) is one of the leading cryptos at present in the market and is primarily focused on privacy. Just because of the growth potential of Monero, many experts treat it as the foremost altcoin to invest in 2019. Stealth Address and Ring Signature is the two big USPs of the cryptocurrency. Recently, Moreno finished 5 years in the crypto industry. On top of that, the number of transactions on the Monero network hit a new all-time high marking more than 15,000 transactions in a single day.

Current Statistics:

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As on May 08, at UTC 11:34, with a return on investment of 2,577.10%, Monero (XMR) was trading at 66.22 USD. As a standard process, the price of altcoins is further compared against Bitcoin (BTC), so Monero (XMR) chips, at the same time, was valued at 0.01122518 BTC per coin. The current rank of Monero is 12th in the crypto chart with a total market capitalization of  1,123,682,793 USD. The trading volume of Monero (XMR) for the last 24-hrs was approximately 42,416,285 USD. 25-days back, on April 12, it was trading around 66.10 USD, however, since then Monero’s price has gone down significantly, and today it is trading with a gain of 0.18%.

Comparison:

Looking at the historical ups and downs in the price of Monero (XMR), it attended its highest price on Jan 07, 2018, and traded at 495.84 USD. Moreover, dropped to the lowest level on Jan 14, 2015, and traded at a level of 0.212967 USD. Yesterday, Monero (XMR) traded between the range of 69.78 USD and 65.54 USD. While the trading in the altcoin, on yesterday, started at a higher note and was priced at 66.51 USD, but in the intraday trading, its value declined by 0.965290 USD (-1.45%) and closed the day at 65.54 USD. Additionally, it’s trading volume for yesterday was of 49,857,410 USD.

Monero (XMR) Price Prediction:

Surprisingly, besides the bullish news around Monero, its price doesn’t seem to be affected much. Also, the increase in the number of transactions of the coin didn’t significantly impact the price of Monero. Not to forget that, Monero implemented an upgrade late last year, which reduced the transaction fees by almost 90 percent. Nevertheless, analysts and crypto experts expected a bull run in Monero and it might tough $80 mark in the near future, once the crypto market goes bullish.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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