Monero Shows Potential For A Positive Price Momentum
The crypto market is currently in the middle of a correction. Today, most digital assets are trading in the red, at the moment of writing this article.
But, on the other hand, Monero (XMR) seems to show some potential to shine.
Monero flaunts potential for a positive momentum
Monero reportedly shows some pretty exciting potential, and the privacy-oriented coin managed to do this by holding uptight in the market situation that we all saw these days following the fall of BTC.
The same thing is reportedly reflecting the fact that XMR is an excellent currency that has the potential to hold future profits.
The market conditions, on the other hand, seem to be improving these days, and the same could mean a fresh start for a new beginning according to NameCoinNews’ latest reports.
At the moment of writing this article, XMR is trading in the red on CMC, and the privacy-oriented coin is priced just above $55.
Monero and a new rating system
Monero made headlines just the other day in relation to CoInbase and Kraken’s latest move.
The platforms are reportedly introducing a new points-based rating system that will be suggesting whether cryptos are subject to the US securities laws, according to the latest reports coming from the Daily Hodl.
“The result of the analysis is a score which makes it easy for members to synthesize the analysis across many tokens and make their own, independent business decisions about whether or how to support [or list a cryptocurrency].”
Anyway, it has been highlighted that Monero is among the digital assets which are least likely to be considered subject to securities laws.
Other than this, bullish predictions keep popping up in the crypto space, and they target Bitcoin as well, not only Monero.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
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.