Monero’s XMR price surged over 40% in just 24 hours, driven by a significant increase in trading volumes which rose from an average of $50 million to over $220 million. This upward movement occurred despite a lack of clear catalyst and coincided with Bitcoin trading above $93,000, a decline of 1%. XRP also saw gains of around 4%, likely influenced by the upcoming launch of three futures-tracked products. Other cryptocurrencies such as Cardano, BNB, and Ether showed modest increases. Analysts remain cautiously optimistic about market sentiment amidst ongoing macroeconomic challenges and regulatory developments. Monero, known for its privacy features, trades at levels not seen since May 2021. Speculation appears to be driving XMR's rally, as network activity remains consistent with typical levels. Overall, while Bitcoin shows stability amid regulatory changes, broader equity markets exhibit mixed trends, reflecting a complex landscape for crypto assets.

Source 🔗