Monero continues to inch closer toward the illuster goal of reaching US$25 per XMR. The road has been long and hard so far, yet progress is still made on a daily basis. Over the past 24 hours, XMR appreciated by 2.17%, pushing the value to just below US$24. Things are looking quite good for Monero right now, that much is certain.
Monero Holders Can Taste The US$25 Milestone
It has been an interesting past few days for Monero holders, to say the least. After a rather disappointing start of last week, Monero trading has picked up, allowing the value to surge higher on a daily basis. Right now, one XMR is worth SU$23.98, which means we have almost reached the illustrious US$25 milestone. Even if Monero would reach that value, there is no reason to believe the value won’t go up further, though.
Seeing Monero gain 2.26% in USD value over the past 24 hours is quite significant. This momentum seems to confirm the earlier trend of how Monero is destined to go up in value as more time progresses. Even though XMR will face a bit of competition from ETH in the darknet marketplace industry, Monero remains the superior anonymity cryptocurrency for quite some time to come.
One thing that is disconcerting is how the fiat currency trading volume is declining rapidly for Monero. Whereas there was US$4m of trading volume a few days ago, that number has dropped to just over US$1. 5m. The EUR market has dropped back to 500,000 EURO, down from nearly 1 million two days ago. So far, this has no negative impact on the XMR price, although things may change at any given time. A bit more volume could help solidify a new platform at US$24 for XMR, though.
Monero continues to gain ground against bitcoin as well, even though things are progressing rather slowly. Over the past 24 hours, XMR gained 1.23% in value, rising to 0.023 BTC. Bitcoin’s value continues to hover below US$1,10, which makes it slightly easier for altcoins to make up lost ground. It is only a matter of time until XMR hits the US$25 mark, though, that much is certain.
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.