- Monero utilizes cryptographic processes to ensure transactions are untraceable and not linked to wallet users.
- Increased privacy coins demand saw $XMR spiking towards the $206.51 highs over the past week.
- Exodus Wallet declared plans to introduce $XMR coins on the Trezor ecosystem before June 2022 ends.
- PrimeXBT listed XRM for live trading.
Monero (XMR) is privacy-focused crypto designed to allow investors to complete untraceable and anonymous transactions by using various cryptographic technologies. Furthermore, Monero undergoes routine updates to its mining algorithm, and developers improve it constantly.
The blockchain uses Ring Signatures technology to accomplish everything efficiently. It enhances an individual’s digital signature to make XRM transactions by different users before recording them to the blockchain.
Monero (XMR) has witnessed a swift surge in value, the reason it became the leading privacy-oriented crypto in the marketplace. When analyzing the alt’s performance within the past week, $XMR hit its 7-day lows on 7 March, when the coin’s price plunged to $153.75.
Monero touched its weekly peak on 9 March, following an upside price move to $206.51. 24-hour analysis shows the alt’s low was $172.32, whereas the 24hr highs stood at $197.04.
Monero introduced the ‘Oxygen Orion’ upgrade on 6 January 2022. The update introduced several improvements, including fixing the Apple Silicon startup crash, UI improvements, minor bug fixes, fixing wizard password resets after wallet creation, and updating translations.
A GitHub user reemu shared a browser extension that ensures a user-friendly UI for Monero wallets. Additionally, Monero saw the P2Pool v1.8 launch. Also, Cake Technologies introduced Cake Wallet v4.3.6/4.3.37/4.3.8 and Monero.com v1.0.2/1.0.4.
The platform also launched RINO wallet, a multi-sig, enterprise-status Monero wallet. PrimeXBT introduced Monero live trading services on 3 March.
As far as future developments and events are concerned, Exodus wallet plans to support Monero (XMR) on the Trezor network before June 2022 end.
Also, Monero’s first mobile app Monerujo declared their SideKick project received complete funding and awaits an official release. Additionally, Haveno unveiled plans to be more decentralized. It also wants to be a vital contributor to XMR development.
Why You May Need to Care
Monero (XMR) boasts a massive growth potential. That comes as crypto fans turn to private cryptocurrencies to facilitate untraceable and anonymous transactions.