- Monero XMR Outperformed Bitcoin During The Last Minor Bull Run.
- The Privacy-focused Token is Now Correcting Lower Against The USD
Monero XMR News Today – A few days ago, the price of Bitcoin BTC and other cryptocurrencies started to rise against the USD. Bitcoin was outperforming every other altcoin except the privacy-focused Monero. While the price of Bitcoin increased by 2% within 7 days, MONERO XMR increased by more than 6% within the same time. On Friday, Monero was up by over 6% against the USD.
Monero XMR Price Analysis – Why Did Monero Outpace Bitcoin?
There are many reasons why the price of the Monero XMR token outpaced Bitcoin a few days ago. For starters, the development community recently released a new update for its Carbon Chameleon software. With the update, transactions on the Monero blockchain will be faster and more efficient. It will change the way the Monero blockchain interacts with Tor and 12P, its privacy networks. The Monero blockchain has gained a lot of attention over the last few months from prominent members of the cryptocurrency and blockchain community.
In January, the CEO of Coinbase, Brian Armstrong talked about the importance of privacy in the blockchain space. In his words;
“I think we’ll also see privacy integrated into one of the dominant chains in the 2020s. Just like how the internet launched with HTTP and only later introduced HTTPS as a default on many websites, I believe we’ll eventually see a privacy coin or blockchain with built-in privacy features get mainstream adoption in the 2020s. It doesn’t make sense in most cases to broadcast every payment you make on a transparent ledger.”
Monero (XMR) Price Today – XMR / USD
Right now, the only blockchain that provides this type of privacy is Monero. Even the king of controversy in the blockchain space, John McAfee, said that Monero is one of his top tokens along with Ethereum and Bitcoin. He even said that while Bitcoin is good, the technology behind it is old and Monero has technological superiority over Bitcoin. In his words;
“Newer blockchains have privacy, smart contracts, distributed apps and more. Bitcoin is our future? Was the Model T the future of the automobile?”
Monero XMR Price Prediction 2020 – Monero Price Analysis
While the price of the Monero token outperformed Bitcoin on Thursday and Friday, the token is now correcting lower against the USD as is normal after a bull run. At the time of writing, the price of Monero was $53.91. It is down by 0.80% and down by 0.50% against the price of Bitcoin BTC. The trading volume over 24 hours is $155,566,289 and the market capitalization is $944,001,037. The future of Monero is still bright irrespective of the current price action of the token.