Monero’s Privacy Features Boost The XMR Price 7% Higher

Monero’s privacy features boosted the coin to increase by an additional 7 percent in the New Year as per the charts that we are analyzing in today’s XMR news.

In the early days of the new year, the price of monero has advanced by 10 percent and the investors believe that happened only because of Monero’s privacy features. Earlier today, the privacy coin increased by more than 3 percent from $45.00 to $47 and has even started taking ground further rising to $49 which is a 7 percent increase in the past 24 hours. The rally comes as an outcome of the Europol report showing that the XMR transactions are untraceable. Europol used the transaction activity of the suspect who was able to avoid the authorities to make its point.

A recent report notes a webinar featuring Jarek Jakubcek who is a strategic analyst with Europol’s European Cyber Crime Centre. The webinar transcript was then published by a Reddit member. Jakubcek outlined how the IP addresses tied to the transactions are harnessing the one-two punch of the privacy-based browser Tor and Monero being untraceable and leaving the authorities ‘’at the end of the road.’’ These results were different from the probe of the Bitcoin blockchain which was extremely visible and explained how Europol was able to get so far. As per the recent Europol announcement by the Cybercrime Centre, it seems that the detailed research failed to reveal either IP transactions or the coin movements.

Over the past year, Europol cracked down on Bestmixer which is one of the leading Bitcoin mixing services but despite that, the coin mixing BTC can reveal something about the origins of the transactions. The combination of an anonymity coin and the Tor browser seems to be the top choice to mask all of the traces.

The Reddit threat generated a lot of responses and many of them cheered the privacy coin for doing what bitcoin couldn’t have done. However, some of the users were not amused. One even pointed out that the XMR community was celebrating the ability of criminals to launder funds successfully by utilizing XMR. Of course, giving the users the control to avoid detection and to send anonymous transactions also places a huge target on the back of Monero.