Monero is currently the tip-performing cryptocurrency among the many tip 100 by market cap actual by map of the final 24 hours.
On Aug. 2, Monero (XMR) rose above $164, posting intraday gains of as regards to 5%, while a trend of the crypto market struggled while Wall Highway traded deep in the purple.
Monero, a privateness coin, has faced challenges in fresh months, mainly due to the a couple of exchanges delisting its native token amid increasing regulatory scrutiny. Regardless of this, XMR remains one amongst the tip 100 money by market cap, currently ranking twenty seventh with a market cap of $2.9 billion.
XMR rose to $175 in July
Monero’s rate rose to $175 on July 26 earlier than dipping over the following couple of days as weakness actual by map of crypto threatened bulls. On Aug. 1, as Bitcoin crashed to shut to $62k, XMR reached its lowest rate stage since July 8 by hitting lows of $150.
XMR traded at its all-time excessive above $542 in 2018.
While XMR trades under the highs of $180 reached in mid-June, the gains to above $160 on Aug. 2 came amid sure news for the privateness coin.
Earlier in the week, the Monero crew launched that they were working with Cake Wallet, a non-custodial for Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), to bring Monero to the Keystone Hardware Wallet.
Keystone, an initiate-source hardware chilly wallet supplier, confirmed the collaboration.
In collaboration with Cake Wallet, the difficulty to integrate Monero into Keystone Hardware Wallet has commenced! https://t.co/vaX0eE9KIH
— Monero (XMR) (@monero) July 31, 2024
The news of alternate delistings impacting XMR has been countered by the neighborhood’s sure reception of the most standard inclinations. Keystone launched plans to change into the fundamental hardware wallet to boost native Monero Mnemonic Seed, additional solidifying neighborhood self assurance.
Monero additionally recently highlighted an adoption case where a grocery store in Fresh York now accepts XMR as payment from prospects.
