After a week of strong growth and rally in altcoins, the market just saw the slight correction that put most digital assets in the “red zone”, but Monero seems to ignore the current trend, especially after posting growth of 25% in the last seven days. .
Since mid-June, XMR has gained more than 50% of its value, mainly due to the recovery of the industry and the increased demand for privacy-focused assets. Monero remains the most popular tool for moving funds in the blockchain space completely privately.
The cryptocurrency still shows the same tendency to repeat many short-term recovery cycles. The last time we saw one was in May, when XMR experienced a sudden and explosive rally, bringing over 70% profits to its investors within days.
Monero remains the king of the “crypto underground”
Earlier this month, U.Today reported that the number of Monero transactions continues to surge massively as the darknet prefers the private coin to the biggest cryptocurrency in the market.
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Monero kept the crown of cryptocurrency king underground as it easily beat privacy coin ZCash in the number of private transactions. XMR handles 98% of all private transactions on the blockchain.
Technically, XMR has no competition in the private cryptocurrency segment as the coin can easily compete with the biggest representative in the industry in general, including Solana, Ethereum or assets like Bitcoin Classic.
Monero is the fifth most popular PoW cryptocurrency in the market and the second largest gifted asset in the entire industry.
At press time, XMR is trading at $149 and showing a 2% price increase over the past 24 hours.
