Cryptocurrency Monero News: Price Reaches All-time High of $154
Private digital cryptocurrency Monero reached an all-time high of more than $154 per token last Monday. Due to the sudden rise, it is now ranked as one of the top ten cryptocurrencies in the world.
The skyrocketing of Monero's value prompted several platforms to add support for it, the latest of which was the Korean cryptocurrency exchange Bithumb. Another site known as LocalMonero now allows users to exchange cash for the cryptocurrency.
Although Monero used to be linked to crime because of its anonymity, it is now slowly winning the trust of users as one of the best anonymous cryptocurrencies, as it achieved a market cap of $2.1 billion on Sept. 2. In fact, the overall crypto market cap owes its stability to the prices of Monero and Dash, another cryptocurrency that broke records this month.
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Dash prices started at $200 last month, but this value has steadily increased in the weeks that followed. On Aug. 20, its price reached the $300 mark, which lasted for an entire week. However, it saw another surge in trading, going above $400 and reaching its all-time high of $409 on Aug. 26.
The price of Monero also soared last week, nearly tripling since Bithumb confirmed it would add XMR trading pairs. After its price exceeded $100 for the first time several days ago, its price rose by another 45 percent on Aug. 26, bringing it to $146. It recently had a market cap of $2.1 billion, which made it one of only nine cryptocurrencies to cross the $2 billion market cap mark.
As of publication, Monero's price is reported to be $124.22, making its market cap $1.9 billion.
Like Bitcoin, Monero is exclusively run by donations and volunteer developers. Its privacy features provide protection for users, both in their personal transactions and their networks.
