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Monero (XMR): How Is One Of The Top Cryptocurrencies Doing After New Year?

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Monero (XMR)

Even if you have only heard of cryptocurrencies like Litecoin, Bitcoin, and Ethereum, you must have heard of Monero somewhere along the way. Monero is one of the most significant and most valuable coins within the circles of digital currencies and blockchain based technology systems, promising to grow beyond its current value. But, how is Monero doing in 2018 after New Years’ eve and how this digital coin managed to increase to its present value?

Everything you need to Know about Monero

Monero was launched in 2014 and with its appearance, this coin changed the by far familiar blockchain system of protection and function. Although launching and previous design of this coin was inspired by Bitcoin that slowly started to grow during that time, Monero is operating with types of algorithms that are different than the way Bitcoin is operating. To get into specifics, Monero was designed and based on CryptoNight PoW, which is a derivate from CryptoNote system. This is very important for overall security and strength of protection behind cryptocurrencies and digital exchanges of monetary values. Thanks to this algorithm system, all coins that are suspicious and come from suspicious addresses can be banned and refused by other users that are getting involved with direct transactions with Monero, unlike the case with Bitcoin.

At the beginning of Monero, this digital coin had some flaws that were immediately resolved and modified into making a functional and valuable coin with the protection of all parties involved in transactions. At first, Monero had problems with recognizing transactions on both ends, so one of the parties involved in that transaction anonymously attacked Monero and the way they were operating at the time. Monero creators didn’t waste any time so they patched that flaw and improved the way transactions are being made, now having three layers of protecting privacy. One way of having your privacy protected when going through the process of transactions with Monero lies in the fact that you can refuse to exchange transaction in case you find it suspicious – the address with a proven suspicious address can also be banned. Thanks to the ring signatures, the sender is protected by having his transaction camouflaged with other transactions being simultaneously made by other users, making any specific transaction untraceable. Stealth address availability helps both parties by hiding the address of receiving parties, keeping the transaction anonymous for any side party that can be viewed as a third party and RingCT feature works on hiding the amount of transaction that is in the process of being sent. All these features combined make Monero very safe and practical to use so it’s no wonder Monero has grown to be one of the big guys in the world of digital currencies in a matter of only three years.

Monero’s Price and Value

To start off with general value and functionality, Monero is one of the oldest and most functional cryptocurrencies that are not on the top of the top by accident. Thanks to its improved privacy where identities and addresses of senders and receivers are being protected and kept untraceable, Monero makes transactions done simply and quickly in only a couple of clicks with no third parties or excessive fees involved. That is at the same time the main reason for having Monero where it is today.

Unlike many other cryptocurrencies that started to grow in price only one month ago with the massive expansion of multiple digital coins, Monero managed to establish its stability a long time ago probably thanks to its privacy and improved functionality based on PoW and untraceable transactions.

Another important factor for having Monero grow to be as large as it is today is the fact that this digital coin was stirring up the market with privacy innovations long before crypto coins acquired popularity and increased demand. That is how Monero had enough time till the current date to expand, improve and establish its functionality taking the top charts among the crypto community.

Today, experiencing an additional increase in value as of the beginning of 2018, Monero is worth the amazing 474.61$ with the market cap of over 7.3 billion dollars and with over 334 million coins in circulation which make it one of the most valuable coins currently available on the market.

Monero is still worth investing for anyone believing that this coin could easily overpass Bitcoin’s and Ethereum’s price altogether. With stable growth this coin has now, it is expected that the coin might grow to be worth a couple of thousands of dollars by the end of the year. Of course, that would be the expected result in the best case scenario where Monero would continue with value increase at the same or faster pace it had at the beginning of January of 2018 and in December of 2017.

In case you had run across Monero long before the big bang of digital coins, back in 2014 and 2015 when Monero was far from being the next great thing, you probably feel lucky at the moment, seeing this golden coin getting on popularity and consequently having its value increased.

We will be updating our subscribers as soon as we know more. For the latest on XMR, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Bitcoin

Wisebitcoin Launches Professional-Grade Crypto Exchange

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Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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