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Bitcoin’s (BTC) rally stopped over $ 100,000, slowing down the recovery assembly in large altcoins. One coin, however, stands resistant: Monero (XMR), the largest digital asset focused on privacy in the world according to market value.
XMR increased by 4.6% to $ 347 this week, with prices received by 2% according to Coindesk data in the last 24 hours. The cryptocurrency has overshadowed the market value every 100 tokens in the last 24 hours. Bitcoin, market leader, has fallen by 1.6%in the last 24 hours, dropping the weekly to 2%.
MONERO performance is even more impressive, due to its 110% recovery from a low $ 165, hit at the beginning of April, when Bitcoins dropped to $ 75,000. XMR are price charts he had signaled A meteoric rise with a bull Golden Cross a month ago.
According to HTX, the rally can be attributed to several factors, including a favorable control outlook.
“In the US, the regulatory outlook has moved because FIT21 crypto has advanced and SEC shows increasing ambiguity in classification of certain chips and alleviates concerns about the market control market and encourage cautious influx of capital,” analysts said in HTX Research Coindesk.
Approaching Updating Evidence of Membership in full chain (FCMP ++)The new and stronger integration of privacy features to be due at the end of this year can also be a galvanization of investors’ interest.
“FCMP ++ increases Monero’s quantum resistance by providing secrets in advance and ensuring that the quantum opponent cannot disrupt the privacy of past transactions, even if he solves ECDLP. Replacing the ring signatures said to x.
Here is an analogy that will help one understand the above. Imagine that you have a personal diary with a lock, but there is a risk that someone will develop a super-Inmart device that breaks the lock.
FCMP ++ is probably an added layer of an intelligent lock that will protect the currency records while ensuring that the potential entity that can handle security tricks does not see past items.
HTX also pointed out the rumors of the main exchanges that want to mention XMR as a source of bullfighting for cryptocurrency.
“It is said that the main exchanges are considering some privacy coins that have further increased sentiment,” HTX analysts said. “Given the lower liquidity and concentrated possession, coins to protect privacy of higher price elasticity than the main cryptocurrency, which often leads to more extreme prices when capital enters the market.”
Finally, some observers have suggested that the recent suspicion of BTC theft of $ 330 million could have been built through XMR, which led to a bull price action.
Read more: How 330 million dollars BTC hacker could double on the derivatives of Monero
