Monero

Like most digital coins, Monero (XMR) is equally vulnerable despite its bullish trading pattern against the US dollar. With privacy becoming more important each day, Monero is already well-positioned in that regard. The network has shown some resiliency despite its dependence on developers rejecting miner monopolization efforts.

Monero Receives Backing from Nick Szabo

There have been concerted efforts regarding privacy by citizens who are opposed to the behemoths focusing on personal data collection and processing for their own gain. For instance, Facebook (NASDAQ:FB) has been in the spotlight regarding privacy issues despite recently agreeing a $5 billion penalty with regulators. The company is expected to launch its crypto coin dubbed Libra, which is backed by a number of fiat currencies.

/**/

Given the privacy concerns that Facebook has had in recent times, it remains to be seen whether it will be trusted with financial information. As Facebook faces a storm, on the other end, there is Monero, which is the most discernible privacy coin and will most likely flourish as such. It has already received backing by the creator of smart contracts, Nick Szabo.

>> Bitcoin Falls Below $10K Again: Traders are Undecided

Cheap, Secure, and Decentralized coin

This is an enormous opportunity that will reinforce the ambition Monero developers have of producing a perfect coin that is secure and affordable, as well as one that is not vulnerable since it will be decentralized completely. However, there is a trade-off when it comes to the quest for a decentralized coin. The network may be vulnerable as its computing power may be less secure due to the frequent updates.

Currently, Monero (XMR) is stable but still under pressure, just like Bitcoin and other coins, and there is a possibility of bears flowing back. XMR’s flexible resistance level of $100 is likely to edge lower unless a surge happens beyond the middle Bollinger Band.

Featured image: DepositPhotos © jamesteohart

/* p > a { text-decoration: none; color:#000 !important; } .crec-ad > p > a:hover { color:#000 !important; text-decoration: underline; } @media(min-width:1228px){ .crec-image img{ width:191px; height:100px; } } @media (max-width: 1228px) { .crec-ad { width: 50%; box-sizing:border-box; } .crec-image img{ width:100%; height:158px; } .crec-ad:last-child { width: 50%; padding-right: 4px; } } @media (max-width: 590px) { .crec-ad { width: 100%; } .crec-image img{ height:auto; } .crec-ad:last-child { width: 100%; padding-right: 4px; } .crec-header h1 { padding-left:20px; } .crec-container { padding-left:20px; padding-right:20px; } }
/*]]>*/

/**/

Monero (XMR) Still Vulnerable Despite Receiving Support from Nick Szabo 2
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 42,350.00
ethereum
Ethereum (ETH) $ 2,883.95
cardano
Cardano (ADA) $ 2.26
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 341.57
xrp
XRP (XRP) $ 0.926572
solana
Solana (SOL) $ 131.14
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 29.08
dogecoin
Dogecoin (DOGE) $ 0.206417
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 42,350.00
ethereumEthereum (ETH)
$ 2,883.95
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 508.78
litecoinLitecoin (LTC)
$ 149.17
bitcoinBitcoin (BTC)
36.080,93
ethereumEthereum (ETH)
2.457,04
tetherTether (USDT)
0,851970
bitcoin-cashBitcoin Cash (BCH)
433,47
litecoinLitecoin (LTC)
127,09
bitcoinBitcoin (BTC)
30,902.16
ethereumEthereum (ETH)
2,104.38
tetherTether (USDT)
0.729685
bitcoin-cashBitcoin Cash (BCH)
371.25
litecoinLitecoin (LTC)
108.85

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin42,542 1.04 % 0.68 % 11.86 %
Ethereum2,892.4 1.12 % 1.25 % 15.61 %
Cardano2.270 1.43 % 3.81 % 4.29 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Binance Coin343.56 1.35 % 4.02 % 16.51 %
XRP0.9312 1.15 % 1.95 % 13.44 %
Solana131.83 1.19 % 5.62 % 22.50 %
USD Coin1.000 0.40 % 0.21 % 0.07 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2072 1.25 % 2.36 % 14.36 %

bitcoin
Bitcoin (BTC) $ 42,350.00
ethereum
Ethereum (ETH) $ 2,883.95
cardano
Cardano (ADA) $ 2.26
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 341.57
xrp
XRP (XRP) $ 0.926572
solana
Solana (SOL) $ 131.14
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 29.08
dogecoin
Dogecoin (DOGE) $ 0.206417