Monero Surges As Crypto Enters New Hype Cycle, Hard Data Shows
Monero’s recent tenfold surge in price set off a firestorm of speculation. While some point to the Bitfinex hack possibly increasing demand for stolen Bitcoin to be converted into something less traceable, other indicators point to dark market integrations, especially from AlphaBay, as the catalyst for the price spike. CoinTelegraph reached out to Fran Strajnar, co-founder and CEO of data and research provider BraveNewCoin, for more concrete data to provide insights into the reason for Monero’s price spike. According to Strajnar, cryptocurrency is entering a new cycle of hype, and the....
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According to a recent update on Monero’s Github repository, the privacy-centric crypto network plans to hard fork in July, at block height 2,668,888. Monero is the largest privacy crypto asset in terms of market capitalization and during the last seven days, monero climbed 13.4% against the U.S. dollar.
Monero Aims to Upgrade in July
The development team behind the Monero (XMR) project has plans to upgrade the blockchain at some point in July, according to the Github-hosted version 15 “Network Upgrade Checklist #690.” Monero is an open-source distributed....
Bitcoin surged in popularity as the world’s first great cryptocurrency in large part thanks to its privacy offerings, allowing users to be anonymous, traceable only by pseudonym wallet identifiers. Several other cryptocurrencies attempted to expand on Bitcoin’s privacy, such as Darkcoin (before rebranding as Dash and pursuing more broad goals) and Monero. In late summer this year, Monero surged as cryptocurrency entered a new privacy-centric hype cycle. Recently, its price and hype have adjusted as possible competitor Zcash debuted too much hype, and possibly due to discontent over current....
A recent study by Gartner has shown that blockchain has reached the ‘peak of inflated expectations’ phase of the hype cycle as the chief architect of ACI Worldwide states that the distributed ledger technology is not yet able to handle financial transactions at scale. The study by Gartner ‘Hype Cycle for Emerging Technologies, 2016,’ found that blockchain won’t reach mainstream adoption for another five to ten years. According to Mike Walker, research director at Gartner, the Hype Cycle for Emerging Technologies report is the longest-running, providing an overview of what technologies are....
Monero (XMR) price has surged by as much as 7% in a matter of 24 hours before network upgrade or hard fork on August 13. XMR climbs by over 7% overnight before the weekend hard fork. Binance recently announced support for Monero’s hard fork or network upgrade. Crypto targets $200; then $217 next. Historically, upgrades have always triggered a boost in XMR price. The altcoin is seen to have soared by 65% since midway of June which signals a robust price movement. With consistent and continuous recovery of the crypto market, XMR price might even shoot above $200. According to CoinMarketCap,....
Monero (XMR), an open-source cryptocurrency first focusing on privacy and decentralization, managed to initiate a price pump despite the greater majority of crypto space struggling to get out of the red zone. Monero managed to bounce back twice from its support range of $134.5 XMR remains “in the green” for its intraday, weekly and monthly price readings A surge all the way to $171 is possible for Monero if it moves past its current resistance range The altcoin, for the past few days, has been on a consistent price increase, seeing all-green on its hourly, intraday, weekly and monthly....