Then follow us on Google News!
When things remain status quo in the cryptocurrency world, there is very little to talk about. Investors, speculators, and other traders tend to lose interest as well. For Monero, things remain very stable, which is a positive sign. Unfortunately, that also means trading volumes continue to drop off as more time progresses. So far, that has not hurt the price, albeit it could only be a matter of time.
Monero Stays Its Course Without Problems
The past 24 hours have proven to be kind of interesting for Monero, even though very little has changed. At one point, it seemed as if XMR would surpass the US$12.5 mark, but that “mini pump” quickly ran out of steam. Despite holding on to the US$12.2 mark for several hours, the value eventually started to retrace back to the US$12 mark, where it is still sitting at the time of writing.
For now, it appears the downtrend has been kept stable, although there was a brief dip to US$11.84 earlier this morning. Trading picked up quickly after that, though, as it seems the Monero whales were not interested in keeping the price that low for now. Surprisingly enough, trading volumes in the USD market remained somewhat flat as well, which seems to indicate this dip was just a temporary setback after all.
Kraken continues to gain a bit of ground compared to Bitfinex when it comes to the XMR/USD trading pair. Albeit the difference between both platforms is still over 500 XMR, it seems like Kraken will get the #2 spot on the charts in the coming weeks. Oddly enough, Kraken’s Monero price is nearly 20 cents lower than Bitfinex right now, which opens up a small arbitrage gap to take advantage of.
Not much has changed for Monero on the Bitcoin trading chart either. A brief dip in value has taken place yesterday evening, but the price crawled back up slowly. In fact, the 24-hour market change – at the time of writing – is 0.00%. Quite unusual to see that number in the cryptocurrency world, but Monero holders will not be complaining about it by any means.
Header image courtesy of Shutterstock