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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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....
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....
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....
According to the latest Gartner Hype Cycle report, Blockchain technology is just about at the Peak of Inflated Expectations. Meanwhile, cryptocurrencies such as Bitcoin and related businesses like exchanges are further ahead in the Trough of Disillusionment. Peak Blockchain? Gartner has recently released its report Hype Cycle for Emerging Technologies,....
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....