Another day of trading is in the books for Monero and things are looking better than ever. Compared to a few days ago, when it seemed Monero would dip to US$11, things have turned in favor of XMR as of late. Right now, one XMR is valued at US$14 and it appears there are some more gains looming on the horizon. Bitcoin’s bull rush is doing Monero a favor for a change.
Monero Heads To US$15
Everyone who holds a Monero balance will be pleased to see the value per coin has gone up steadily over the past few days. The previous 24 hours have proven to be quite significant for XMR, as the value soared by over 15%. Right now, one XMR is traded at US$14 once again, whereas things looked a more bleak just a week ago. Then again, the cryptocurrency market has always been unpredictable, which is part of what makes it so appealing.
It would appear the bull whales have returned to the Monero market for the time being. Even though bitcoin keeps setting a new all-time high virtually every day right now, Monero’s value is not tanking, as many people had expected. Instead, XMR tries to maintain its value compared to bitcoin and ride the ways of the world’s premier cryptocurrency in the process. So far, this strategy seems to work out just fine for Monero.
The USD market continues to grow, which is quite intriguing to see. A new 24-hour volume record has been set, as XMR saw over US$1m in volume changing hands. Compared to yesterday’s US$830l, that is quite a significant volume boost. Moreover, it appears the EUR market continues to grow as well, with over 3580,000 EUR in trading volume these past 24 hours. All things considered, both are positive developments for Monero, that much is certain.
In the XMR/BTC market, things seem to be evolving in the right direction as well Monero has regained some ground compared to bitcoin, resulting in an 11.62% gain over the past 24 hours. This is part of the reason why Monero’s USD value keeps going up alongside bitcoin’s bull rush. Whether or not this trend can be sustained for the long run, remains anybody’s guess at this point, though.
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