Monero (XMR) is a private, secure and untraceable cryptocurrency that was launched April 18, 2014 as a fork of ByteCoin. It is an open-source, privacy-oriented digital currency built on a blockchain that is designed to be opaque.


INTRODUCTION

Monero (XMR) is a private, secure and untraceable cryptocurrency that was launched April 18, 2014 as a fork of ByteCoin. It is an open-source, privacy-oriented digital currency built on a blockchain that is designed to be opaque.

With Monero, it is said you are in complete control of your funds and privacy, as no one else can see anyone else’s balances or transactions.Monero works as a privacy-oriented cryptocurrency by using ring signatures and stealth addresses. A ring signature is an anonymous digital signature that does not reveal who signed the transaction. They are generated on the Monero platform through a combination of a sender’s account keys and public keys on the blockchain.

ANALYSIS IN TERMS OF VOLUME OF TRADE.

The monthly trading volume of Monero (XMR) is 91,126,914 on May 19,2020. And 68,676,380 on June 18,2020.The difference in monthly trading volume within this duration is 22,450,534.The decrease in percentage trading volume is 24.64 percent

 WEEKLY TRADING VOLUME OF MONERO (XMR)

 The weekly trading volume of Monero (XMR) is 68,676,380 on June 18,2020. And 63,717,399 on June 12, 2020.The differerence in weekly trading volume is 4,958,981.The decrease in weekly percentage trading volume is 7.22 percent.

PARTNERSHIP IN MONERO (XMR)

HTC Says Its Exodus ‘Blockchain Smartphone’ Will Mine Monero (XMR)

Mobile phone manufacturer giant HTC will allow users to mine Monero (XMR) cryptocurrency through its blockchain phone, Exodus, according to an announcement made on April 10.

The announcement said that thanks to the partnership with the ASIC chip design firm Midas Labs, the Taiwanese company would be able to mine Monero through an application called DeMiner, which will be available for download in Q2 2020.

Due to growing concerns that cryptocurrency mining activity involves high energy consumption, and therefore high costs, HTC ensures that these levels can be reduced by transferring work to mobile devices.

The application would be designed to automatically inactivate mining regardless of whether the mobile phone is in use or when the charger is not plugged.

Monero (XMR) “Accidentally” Accepted at Fortnite Merch Store, CEO Says

Around New Year’s Day, rumors began to circulate that Retail Row, the supporting retail store for Fortnite, the most popular video game in the world, had started accepting cryptocurrency payments in Monero (XMR).

However, Tim Sweeney, the founder of Epic Games, the company behind Fornite, commented on the issue saying that the “brief” acceptance of XMR was an accident.Sweeney debunked the claim that Fortnite’s official merch store would be accepting any cryptocurrencies through a Twitter thread, saying that Epic Games doesn’t have any cryptocurrency partners.

The company also isn’t planning on entering any crypto partnerships in the future, Sweeney said, but reassured his followers that the company reads “lots of papers and talk to smart people to learn more in anticipation of an eventual intercept.”

He also added that both he and the company were supporters of blockchain, but that the technology was still too young and unsafe to bring it to Fortnite’s audience of young gamers.

Monero (XMR) Futures Trading Available in Dubai

Based on reports, BTSE becomes one of the first and only exchanges in the world to offer Monero (XMR) futures. Thus, making the world’s largest privacy coin available for trading along with 6 other crypto and 8 fiat currencies.

BTSE post said: “We believe that Monero (XMR) brings a lot of value to BTSE. We’re also excited to offer an additional option for traders and with that, a new gateway for added liquidity within the Monero network.”

The Monero futures trading option created a lot of opportunities for traders. Firstly, the new instrument allows traders to take long and short positions on the privacy coin. The service only exists on a few digital asset exchanges.

Secondly, Monero futures trading options serves as a gateway for added liquidity to an asset. Since it allows traders to apply various approaches and include the futures product in their overall trading strategy.

Also, the BTSE exchange takes privacy trading on the exchange seriously. Hence, Monero Futures 2.0, the most advanced futures on the market is available. It’s flexible, customizable, and personalized.

Importantly, users can post supported currencies as collateral for trades. As well as, freely choose the asset to receive the payout in. BTSE stands out with this feature makes trading more convenient.

Finally, there’s something interesting for adventurous users, as BTSE offers them up to 100x leverage on Monero futures.

MONERO (XMR) PRICE  PREDICTION

While a few started making predictions for a possible ‘Doomsday,’ the crypto market was busy improving its performance after it alarmingly went below its multi-year low price points. Over the time span of more than just a month, the market seems to have progressed most efficiently; it is today when Bitcoin has reclimbed the crucial $10,000 price mark.

BTC, for this achievement, has soared by at least 7%. But surprisingly, the XMR price had risen by even more than that as it had noted an escalation of almost 14% today before it corrected by a couple of percentages.

Over the last 24 hours, the coin has noted major higher highs at $59.63, 64.48, and $64.75. Currently, the XMR coin is looking for more room to grow at $64.63. Notably, the coin has already had a 1-week’s highest point at $65.99.

Notably, the XMR coin has just moved away from a $65 price mark with a slight correction move. Meanwhile, it has remained above the EMA line. Moreover, the declining trend line has been breached yesterday since when Monero is holding a bullish MACD indicator.

CONCLUSION

Monero is a cryptocurrency similar to Bitcoin although it comes with a number of key differentiators that set these two cryptocurrencies apart from each other. The level of security and anonymity offered by Monero is high which makes it safer than other options available in the cryptocurrency space.


All opinions expressed in the above article are solely of the author’s and do not reflect the opinion of the Global Crypto Alliance Ltd., any of its affiliations or any other company. This article is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. The Global Crypto Alliance Ltd. strongly recommends that readers conduct their own research and due diligence into the company, product or service, if any, that may be mentioned in the above content.