My Bull Coin of the Week: Monero
It's Zero to Infinity's week 8 of Find the Best Bull-run Coin contest as always organized by sir @tarpan. It's always a pleasure taking part in this Contest, though I missed the 7th week but won't miss this very one.
About Next Bull-run Coin
As we all who have been observing the crypto market signal should know that, there has been crypto crash within the last couple of weeks which is likely as a result of either end of the year profit taking, rising selling pleasure or speculation. Even so there are some Crypto which we should look up to, which are capable, therefore should be anticipated to have the best bullish run in the next coming days.
About Monero
Monero (formerly known as BitMonero) coin which it's Blockchain is opaque was launched in the year 2014 on the 18th day of April (7 years ago) by a user called "Thankful_for_today"on the Bitcoin talk form. It's a hard fork that splited from Bytecoin(BCN) which was launched in 2012.
It's also an open source, privacy oriented crypto.
Transaction details, as well as every transaction's amount is anonymous therefore distinguishes the address used by participants.
What makes Monero unique among other cryptocurrencies is that, it offers a very High level of anonymity to their users and their transactions. Not just that, It's also a decentralized p2p cryptocurrency like Bitcoin and the rest but also know for higher anonymity and privacy oriented digital currency unlike Bitcoin and the rest.
Other notable key facts about Monero
The Crypto's name is Monero while it's code is XMR. It has an unlimited supply as well as circulating supply of ~18,009,002. Monero's latest release is 0.17.2.3 / on the 1st September 2021. It's original author is Nicolas van Saberhagen.
Why I anticipate Monero to pump in the next few days
Its good to note that, because Monero focuses on privacy which is very hard to tract it's transactions therefore making the government and the regulatory authorities nervous therefore putting an end to menero as being witnessed lately in some part of the world, making it's price to drop by as much as 50% since it's all time high in the month of April. Even so, Monero still managed to maintain a 55% upside since the year till to date at high as $235.33 ( November 25).
On may this year, Monero's price went as high as $517.62 from $156.57 at the start of January 2021, soaring higher than the previous all time high of $495.84 during the last cryptocurrency bull run in the last 3 years (January 2018).
Monero's price has slumped in the last 2 weeks due to how cryptos plummeted from their recent highs. It dropped from $341.26 on May 8th, to a low of $153.37 on May 9. It again, soared back to $310 on May 21 but dropped to $240 by May 24. As of the time of filling this prediction, Monero's current price is $243.58.
On this, most forecasting sites predicted Monero's price that it may rebound and reach new highs. Monero price is expected to soar sharply, just like its peer cryptos, the likes of Bitcoin and Ethereum. Keeping in mind that, the algorithm issues new coins to the miners and as designed to be the impervious to ASIC mining, since Monero is know for having the 3rd largest developer Community among other Cryptos basically behind Bitcoin & Ethereum.
A quick view About Monero Chart According to Coinmarketcap
| Crypto name | Price | 24h% |
|---|---|---|
| Monero (XMR) | $243.43 | 0.38% |
| 7d% | Market cap | Volume (24h) | circulating supply |
|---|---|---|---|
| 2.24% | $4.39B | $270.05M(1.11M XMR) | 18,035,227XMR |
Source
Currently, Monero is the 45th cryptocurrency on Coinmarketcap.
Thanks to all ✔️
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