Monero uses cryptography, and it is a special kind of digital currency that ensures of untraceable transactions. It incepted as a fork of the Bytecoin blockchain in 2012, and initially, it was termed as Bitmonero. The transactions over this platform are fungible, and users have full control over their currency and transaction. Monero’s availability is not restricted like BTC. Thus, numerous miners can clog up the system to mine more of this coin.
Current status of XMR
XMR is currently getting traded at USD 69.94 (UTC time 04:46). With a market cap ofUSD 1,184,333,864 and a circulating supply of 16,933,697 XMR, it is the 12th largest cryptocurrency in the world.
Price analysis of XMR
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The above chart shows that XMR is currently getting traded at 70.25 USD or 0.01266395 BTC. Its current market cap is worth of 1,189,638,042 USD with a 24h volume of 118,797,898 USD. The same chart shows that approx. One month earlier, XMR had a trading value of 54.63 USD. So, within this period, the value of XMR has spiked up by 28.59% with 68.34 USD as a good support resistance.
Future price prediction of XMR
Monero has improved itself a lot over the years in terms of privacy and coding. Currently, Exodus Eden has added XMR to its latest version where one of its pipeline features is to use one’s own XMR. XMR works on CryptoNight proof-of-work, which is significantly unlike to PoW Methodism. It has amazing privacy policy due to which has been gaining wider acceptance and in the upcoming years; it has high chances to spike up significantly. Monero is currently focusing on its technology like GUI with multi-signature, subaddresses, etc. Accordingly, it is our verdict that XMR can trade around 500 USD by the end of 2019.
Conclusion
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With XMR Forecast‘s help, we know that soon XMR can attain significant heights based on its development features and once the market condition improves. It is better to wait for some more time until its price attains stability and then consider investments in it.
