The price of Monero (XMR), the biggest privacy-focused cryptocurrency, is making an unexpected comeback, with a triple-digit rally in recent weeks. Targeting a $8 billion capitalization for the first time in years, Monero (XMR) is definitely among the biggest surprises of this cycle in the segment of veteran altcoins.
Monero (XMR) rocketing over $400, challenges top 25 coins
Yesterday, the price of Monero (XMR), the largest privacy cryptocurrency — an untraceable digital asset — hit a multi-year high over $417. Today, despite slight retracement, Monero (XMR) is changing hands at $411 on surging trading volume.
The net market capitalization of Monero (XMR) has already surpassed that of Telegram-linked Toncoin (TON) and Litecoin (LTC), the second-largest Bitcoin (BTC) fork.
While Monero's (XMR) market cap reached $7.6 billion, Toncoin (TON) sits at $7.35 billion, and Litecoin (LTC) demonstrates a $7.33 billion cap.
Also, Monero (XMR) surpassed veteran altcoins Polkadot (DOT) and Near Protocol (NEAR), as well as top memecoins PEPE, BONK, DEX heavyweight UNI and so on.
Monero (XMR) price doubled in six weeks despite delistings
Monero (XMR) managed to establish such movement despite a severe delisting policy. Due to various regulatory frameworks, the coin has been delisted from almost every major exchange in Europe.
At the same time, the community remains optimistic. Also, Monero (XMR) managed to get rid of its label as a crime-related crypto.
Per recent Chainalysis reports, Bitcoin (BTC) and, most importantly, Tether (USDT) are used by cybercriminals more frequently.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team