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.

Coinbase 3

>> 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

Leave a Reply

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 32,741.00
ethereum
Ethereum (ETH) $ 1,911.30
tether
Tether (USDT) $ 0.997613
binance-coin
Binance Coin (BNB) $ 285.91
cardano
Cardano (ADA) $ 1.22
dogecoin
Dogecoin (DOGE) $ 0.227092
xrp
XRP (XRP) $ 0.625985
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 14.92
binance-usd
Binance USD (BUSD) $ 1.00
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 32,741.00
ethereumEthereum (ETH)
$ 1,911.30
tetherTether (USDT)
$ 0.997613
bitcoin-cashBitcoin Cash (BCH)
$ 460.39
litecoinLitecoin (LTC)
$ 124.88
bitcoinBitcoin (BTC)
27.507,51
ethereumEthereum (ETH)
1.605,79
tetherTether (USDT)
0,838150
bitcoin-cashBitcoin Cash (BCH)
386,80
litecoinLitecoin (LTC)
104,92
bitcoinBitcoin (BTC)
23,542.25
ethereumEthereum (ETH)
1,374.31
tetherTether (USDT)
0.717329
bitcoin-cashBitcoin Cash (BCH)
331.04
litecoinLitecoin (LTC)
89.79

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021
Crypto Scams On The Rise As Market Enters Bull Cycle
Crypto Scams On The Rise As Market Enters Bull Cycle
December 22, 2020
Harpreet Singh Sahni perpetrated the Plus Gold Union Coin (PGUC) scam
Sydney Concert Promoter Harpreet Sahni Involved In $50M Crypto PGUC Scam
November 2, 2020
KuCoin hackers steal $150 million
KuCoin Exchange Hacked But Insurance Will Cover The Stolen $150M
September 29, 2020
Mining City insists that it is legit
Mining City Refutes Claims By Philippines SEC Of Being A Scam
September 23, 2020

Blockchain/Cryptocurrency Questions and Answers

What Is Plethori Platform And How Does It Work?
June 12, 2021
What Is The Fudge Token?
What Is The Fudge Token?
June 5, 2021
What Is Shiba Inu (SHIB) Cryptocurrency And How Does It Work?
What Is Shiba Inu (SHIB) Cryptocurrency And How Does It Work?
May 31, 2021
What Is PancakeSwap And How Does It Work?
What Is PancakeSwap And How Does It Work?
May 27, 2021
How Has Internet Computer (ICP) Become A Top-10 Crypto?
How did “Internet Computer Coin”(ICP) Become A Top-5 Crypto?
May 19, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin32,361 1.82 % 5.10 % 15.56 %
Ethereum1,888.6 1.73 % 6.57 % 20.17 %
Tether0.9976 0.23 % 0.71 % 0.09 %
Binance Coin282.44 2.32 % 2.44 % 18.47 %
Cardano1.210 0.27 % 2.77 % 17.94 %
Dogecoin0.2242 1.98 % 4.83 % 27.04 %
XRP0.6220 1.93 % 1.36 % 25.58 %
USD Coin0.9983 0.09 % 0.70 % 0.22 %
Polkadot14.72 3.01 % 10.88 % 35.54 %
Binance USD0.9905 0.44 % 1.39 % 0.89 %

bitcoin
Bitcoin (BTC) $ 32,741.00
ethereum
Ethereum (ETH) $ 1,911.30
tether
Tether (USDT) $ 0.997613
binance-coin
Binance Coin (BNB) $ 285.91
cardano
Cardano (ADA) $ 1.22
dogecoin
Dogecoin (DOGE) $ 0.227092
xrp
XRP (XRP) $ 0.625985
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 14.92
binance-usd
Binance USD (BUSD) $ 1.00