Even though most of the altcoins now follow Bitcoin in price movement, there are some coins that follow their own movement, too. Monero is the only coin outperforming Bitcoin (BTC) now. Despite the BTC rally this week which made the cryptocurrency climb along with gold, Monero is the only coin that outperformed it.
The Monero news now show that the privacy-oriented crypto is currently ranking on 11th position and was the most valuable digital currency on CoinMarketCap, with a total value of less than $1 billion. Last week, XMR added around 5% and beat the Bitcoin gains.
Monero price has the special characteristic of masking the users’ identity, even more than Bitcoin. The altcoin news show that it was up by 6% in the past 24 hours, soaring as the crypto market climbed.
Now that Monero is the only coin outperforming BTC, it is easy to see that the surge in its price is vague, even though there were plenty of positive developments for the coin in the past months. The developers of Monero have rolled out an update recently to the Carbon Chameleon software, designed for improving the transaction execution and the mechanism of the cryptocurrency with privacy networks Tor and I2P.
As of recently, Monero and other privacy coins gained support from many high profile individuals in the tech sector and the crypto industry. The chief executive of Coinbase, Brian Armstrong, was one of those who expressed that privacy integration is one of the things that are most 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
John McAfee also questioned something that is on our minds. He asked whether BTC could be the industry leader in the future – and whether this would mean a great opportunity for cryptocurrencies like Monero (XMR).
Besides all of this, we can see that Monero is the only coin with gains in the top 15 today along with Binance Coin (BNB). XMR gained more than 1.43% overnight and is now trading at $54.48. BNB, on the other hand, added 1.84% to its price today and quickly arrived at $13.74.
The total cryptocurrency market cap today is at $191 billion which shows some stability. The next target for the entire market is the $200 billion threshold, after which we could probably see more gains in the near future.
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