According to a report by Trend Micro – a security firm – Monero [XMR] has become the favorite digital currency for digital currency jackers because of the anonymous nature of the digital currency and the fact that its transactions are very difficult to track. According to data provided by the firm, the act of mining digital currencies illegally by digital currency jackers has increased by over 1000% between January and July this year.
This is mainly due to the preference that digital currency jackers now have for more inconspicuous mining to other kinds of hacks, like ransomware. The firm also said that in the next couple of months, there would be a significant shift away from ransomware that is highly visible to more inconspicuous detection – digital currency mining.
These damaging threats – from miner that percolate power from the devices of victims to the unsafe susceptibility that leaves machines prone to hidden attacks – split limited security resources and divert the focus of IT admins.
Monero [XMR] Price Trend And Analysis
Monero [XMR], which has been over the 20-day exponential moving average over the past four days – recently broke a key resistance on the upside as a result of the present bull run in the digital currency market. This might be the first time since December last year that the digital currency is making such a convincing break from the downward trend.
From the recent price trend of the digital currency, it is obvious that the bulls are in control of the crypto market. Monero [XMR] recently surged over is major resistance at $109 to test the $120 mark.
Monero (XMR) Price Today – XMR / USD
At the time of writing, Monero [XMR] is changing hands at $121.9 after an increase of about one percent over the past twenty-four hours and an increase of more than 31 percent over the past seven days. The current market cap of the digital currency is $1.99 billion and its trading volume over the past twenty-four hours is $48.75 million.