While most of the altcoins follow Bitcoin in price movement, there are at least some coins that follow their own movement, and Monero price is outperforming the king.
Bitcoin rallied this week, climbing along with the gold and the other safe-havens as key stock markets struggle.
Over the past week, the price of Bitcoin is has climbed up about 2 percent, managed to gain the attention and trust of the investors as they searched for a safe option to invest their cash.
However, there was a cryptocurrency that has managed to outpace the gains of Bitcoin over the past weekend and is presently rocketing higher.
Monero price what to expect?
Monero, the privacy-focused crypto, is presently ranked on 11th position was the most valuable digital currency on CoinMarketCap with a total value of a little under $1 billion. Last week it added about 5 percent, thereby beating the Bitcoin gains.
Monero price has the special characteristic of masking the users’ identity, even more than Bitcoin. The cryptocurrency was up by 6 percent in the past 24-hours window, soaring as the crypto market climbed.
Monero price chart by Trading View
This immediate surge in the price value of Monero is vague, although there were many positive developments for the cryptocurrency in the past months.
The developers of Monero have rolled out an update recently to its Carbon Chameleon software, which is designed for improving the transaction execution and the mechanism of cryptocurrency with privacy networks Tor and I2P
Recently, Monero and other privacy coins have gained support from many high profile figures in the tech sector and the crypto industry. The chief executive of Coinbase, Brian Armstrong, expressed that privacy integration into one of the leading chains is expected in 2020.
Eat my dick in 12 months?
A ruse to onboard new users. It worked.
Bitcoin was first. It's an ancient technology. All know it.
Newer blockchains have privacy, smart contracts, distributed apps and more.
Bitcoin is our future?
Was the Model T the future of the automobile?
— John McAfee (@officialmcafee) January 5, 2020
While John McAfee also questioned, that would mean Bitcoin being the first would stay to be the industry leader in the future, and this shows a great spot for cryptocurrencies like Monero XMR.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.