Despite The Negative Press, Monero Surged 36% In 2 Weeks

Despite the negative press about mining and malware, Monero surged 36% in two weeks’ time as we can see more in our latest Monero news today.

The privacy-centric coin has been gaining during the past two weeks and jumped 36% in value against the US dollar. Despite the negative press from the “Spider-Man: No Way Home” torrents with monero mining malware, the statistics show that the asset gained more than 21%. The privacy-focused digital currency monero saw double-digit gains this week while most of the crypto economy suffered losses after a period of consolidation. Recently, XMR made headlines after a cybersecurity company warned that the torrent files containing the latest movie could contain malicious mining malware.

The mining malware reprots plagued the Monero community for years as some applications exist which hijack the victim’s CPU and then mine the coin without the victim knowing with the act is sometimes referred to as “cryptojacking.” Year-to-date, Monero gained 58% against the US dollar and the crypto assets have a market cap of around $4.4 billion and ranked 44^th among the 12,135 crypto assets and XMR represents 0.19% of the $2.3 trillion crypto-economy at the start of the new year. XMR has a 24-hour price range of around $227.51 to $248.45 per unit and USDT is the asset’s biggest trading pair with 42% of the trades and this is followed by BTC 18% ETH by 7.83% USD by 5.94%, EUR 3.35%, and GBP 2.32%.

Monero is an open-source digital currency network based on the Cryptonote technology authored by Nicolas Van Saberhagen in 2013 and the blockchain network is said to be obfuscated but the Ciphertrace surveillance company claimed that it had monero tracing capabilities. The project’s privacy techniques include IP address obscuring, zero-knowledge proofs, ring signatures, stealth addresses, and bulletproofs. At the end of 2021, the Monero developers announced BTC to XMR atomic swap capabilities, and the coin is leveraged on a number of darknet marketplaces. Monero faces plenty of privacy-coin competitors like Horizen, DASH, and Zcash but ZEN for example 438% year to date against the dollar, and ZEC increased 130%.

As recently reported, A new monero malware is targeting enterprise networks according to the new report from cybersecurity company Sophos that detailed a new variant of the Tor2Mine malware. The new Monero malware installs a monero crypto-miner which is quite aggressive compared to other variants. In most cases you would need to update your antivirus software otherwise this miner could enter your network and eat it up.