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Monero ($XMR) Price Updates, Recent Developments, Future Events, Community

  • Monero ($XMR) uses a cryptographic process to ensure that transactions cannot be linked to wallet holders and are untraceable. 
  • $XMR spiked as high as $206.51 in the last seven days due to increased demand for privacy coins.
  • The Exodus Wallet announced its plans to add the Monero ($XMR) cryptocurrency token to the Trezor blockchain by the end of June 2022.
  • PrimeXBT listed Monero (XMR) for live trading.

Monero ($XMR) is a privacy-focused cryptocurrency specifically developed as a means of allowing users to conduct anonymous and untraceable transactions through the utilization of a variety of different cryptographic technologies. Additionally, Monero undergoes regular protocol changes to its mining algorithm, and is constantly being improved upon.

The technology responsible for ensuring that all of this works efficiently is known as ‘Ring Signatures’, which are used as a means of mixing the digital signature of an individual making an XMR transaction with those of other users before recording it on the blockchain.

Price Updates

Monero ($XMR) has seen a rapid growth in its value, which is one of the main reasons why it has become one of the most popular privacy-oriented cryptocurrencies out there.

In terms of the token’s performance throughout the last week, its 7-day low was marked on March 7th, when the token’s value rang in at $153.75, while its 7-day high was recorded on March 9th, when the token increased to hit $206.51.

The seven-day price chart for Monero ($XMR). Source: Coinmarketcap

In regards to the token’s 24-hour performance, its saw a low of $172.32, while its 24-hour high was $197.04.

The 24-hour price chart for Monero ($XMR). Source: Coinmarketcap

Recent Developments

On January 6th, 2022, the Monero GUI 0.17.3.1 ‘Oxygen Orion‘ was released. Numerous improvements were made through the update, such as a fix of the startup crash on Apple Silicon, a fix for the wizard password not resetting after wallet creation, update translations, minor bug fixes, and UI improvements. 

Additionally, a GitHub user, known as ‘reemuru’, shared a lightweight browser extension that provides a simplified UI for the Monero wallet. Monero also saw the launch of P2Pool v1.8.

Cake Technologies also released for Monero.com v1.0.2/1.0.3/1.0.4 and Cake Wallet v4.3.6/4.3.7/4.3.8. 

Hash Strongman added a Monero module to the Learn Crypto Course, having held 4 MoneroKon 2022 planning meetings throughout February.

2022 also played host to the launch of the RINO wallet, which is now in its public beta phase. The wallet is essentially a multisig, enterprise-grade Monero wallet.

On March 3rd, PrimeXBT listed Monero (XMR) for live trading

Future Events

Still on the horizon for Monero’s future events and developments are plans for the Exodus Wallet to add support for Monero on the Trezor blockchain by the end of June 2022.

Monerujo, the first Monero mobile wallet app, announced that their SideKick project had been fully funded, and that users could expect an official release in the future.

Additionally, Haveno announced that they would become more decentralized and act as a key contributor to Monero’s development.

On the Flipside

  • Monero ($XMR) enjoyed a prosperous period and rise in popularity largely due to the fact that it is a privacy token which allows its users to anonymously conduct transactions. However, since its initial spike, the token has been steadily declining in value.

Community

Twitter user @McKibbinUSA shared their excitement over the growth of the $XMR token, posting an image of their purchase of the cryptocurrency: “Someone just bought some #Monero $XMR!”

Another user, @fewseethis, showcased their interest in loading up on $XMR, sharing charts which indicate that privacy coins are starting to pump up:

@CryptoTea_, shared their perspective on how the value of $XMR has been climbing:

Why You Should Care

As cryptocurrency enthusiasts turn to privacy tokens as a means of conducting transactions more anonymously, Monero ($XMR) is one of the leading tokens to offer the possibility and has ample room for growth.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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    Author

    Milko Trajcevski has been in the crypto world for years, and as such has gathered both a skill for writing as well as a native prowess when it comes to understanding everything that occurs within that world. Through skilled writing and determination, he covers articles about cryptocurrency, tokens, blockchain, crypto-asset regulations, crypto wallets, exchanges, liquidity, DApps, forks, mining, security, and blockchain technologies. He is a professional with a track record of proven expertise within the crypto space.