Monero Price Analysis: XMR Notes An Increase And The Price Is Consolidating
Monero, just like the other coins in the market, fell pretty hard these days.
After investors were hoping to see XMR boosted to the moon, BTC suffered more falls and dragged the coins in the crypto market down as well.
At the moment of writing this article, XMR is trading in the green and the privacy-oriented coin is priced at $67.53.
XMR notes an increase in price as you can see for yourselves and after the surge that the coin market the day before, it seems that it’s able to float above $67.
XMR price seems to be consolidating these days and crypto experts have high hopes for the coin.
Even if the crypto market fell these days, this is not stopping all kinds of positive predictions to pop up in the crypto space.
Monero in the news
Monero was recently in the news again for various reasons. First of all, it’s been recently reported that Finance Magnates revealed that there’s a worm that originates from somewhere in Paris and it’s called Retadup. This malware stole data from hospitals in Israel.
The cybercrime unit at the French police was able to uncover and neutralize a virus that has secretly infected more than 850,000 devices all over the world in order to mine XMR.
Unfortunately, it’s already a known fact that due to its powerful privacy and anonymity, it’s preferred target for malware used by miners.
This latest threat used the processor power of hundreds of thousands of Windows-operating computers in more than 100 countries in order to generate coins for the perpetrators, according to notes coming from the online publication mentioned above.
We recommend that you read more about this in the original article from Finance Magnates.
In other news, it’s been also reported that Monero has a new competitor: Decred privacy coin and you can read about in a previous article that we posted the other day.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.