Monero price went sky high this week – a closer look

This week monero coin surprised us all by experiencing quite a boost and even reaching its all time record ($96 today). The event has followed the news from Bithumb, one major cryptocurrency exchange platform, which made the announcement of adding Monero trading pairs to its platform in the near future. It seems Bithump getting XMR listed was a decisive factor on what concerns Monero’s recent growth. After having a pretty steady path, without any significant price movement throughout the first weeks in August, the news from Bithumb definitely made the difference, as its price rised from $55 to $95 during this week. We easily noticed a spike in trading volume, as it reached almost $220 million in one day. Currently Monero doesn’t yet fit in the top 10 digital coins, but it is quite close to Ethereum Classic at the moment (with a market cap fastily treaching the 10 ranked crypto).

With a main focus on privacy and moreover anonymity, Monero is an alternative for a yet minor part of the market at the moment. Since Bitcoin developers have other topics on their plate (such as making the network scale properly), it might be that Monero can receive higher attention when it comes to its key features. As an often undervalued project, it is perhaps time to give more credit to the Monero project and benefits. What are you planning to do with recent developments, getting a Monero wallet or mining Monero? Let us know your thoughts.