Monero (XMR), the go-to crypto for privacy, shocked the market today with a wild 21% price jump in just one hour. The abrupt price jump shocked various crypto analysts who couldn’t decipher a reason behind the surge.
It’s now sitting at $311.62, up 35.28% in the last 24 hours, with a $5.74 billion market cap and $158.71 million in trading volume, which skyrocketed 194.40%. The coin’s been on a tear, gaining 44.01% this week and 41.74% over the past month.
Since its launch in 2014, Monero has been all about keeping transactions private, using fancy cryptography to hide who’s sending and receiving funds. Unlike Bitcoin, where payments can often be traced, Monero keeps things under wraps, making it a top pick for anyone wanting to stay anonymous.
But why the sudden spike? Nobody seems to know. Twitter’s blowing up with people asking the same question, throwing around guesses, and even running polls. Some think it’s big investors jumping in, or maybe Monero’s privacy edge shining in a world obsessed with tracking. So far, though, it’s a mystery.
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