Monero (XMR) Can Hit A New All-Time High Following Major Developments
source link: https://cryptomode.com/monero-xmr-can-hit-a-new-all-time-high-following-major-developments/
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Various cryptocurrencies have noted strong uptrends over the past few weeks. Whereas some currencies got more attention than others, Monero has kept on gaining value. A new all-time high XMR price remains within reach thanks to prominent ecosystem developments.
Monero Blows Past $500
It is always interesting to see how individual cryptocurrencies perform. Not every project receives the attention it needs or deserves in this industry. Monero is a project few people seem to talk about, yet the currency has surpassed $500 again in relatively quick succession. Doing so puts XMR within striking distance of a new all-time high, as the last one dates back to over three years ago.
The privacy and anonymity aspects of Monero have always attracted a certain crowd. It now appears that more and more people are paying attention to this ecosystem, as it provides features and benefits other cryptocurrencies cannot. However, it is equally important to look beyond the price to figure out what may be happening behind the scenes.
Various XMR Wallet News
It would appear the past few days have been exciting for Monero wallet enthusiasts. A new web wallet service, known as TechWallet, has been launched to the public. It is not a traditional solution but more of an educational resource hooking into the testnet. No activity occurs over the mainnet, creating a safe learning and experimentation environment.
The second bit of wallet-related news comes from the Cake Wallet team. First of all, the team is hiring a Flutter developer for a full-time position, indicating some further developments and upgrades may be on the horizon. The salary will be paid in XMR, further increasing the appeal of this project and the Monero ecosystem.
Speaking of Cake Wallet, the team shares crucial statistics regarding its mobile installations over the past month. A healthy 23% increase for Android and a 40% improvement for iOS confirm demand for XMR exposure is heating up. Mobile wallet solutions are essential to cater to the needs of many, as the next generation of crypto enthusiasts will likely favor this approach.
Cake Wallet new installs for the 30-day period April 5th to May 4th compared to previous 30-day period:
iOS: up 40%
Android: up 23%https://t.co/hvx5r2qGTX
— CakeWallet
(@cakewallet) May 6, 2021
RandomX Rust Implementation
Monero enthusiasts will be familiar with the RandomX implementation. As this technology has now been implemented in Rust – bar some limitations – the ecosystem enters its next stage of evolution. There is still work to be done, however. Mining is possible, although not in a competitive manner.
Moreover, there are a few computation bugs that will need to be addressed in the future. It is now up to the community to experiment with the open-source code and report any potential bugs they encounter.
All of the developments above indicate a lot is happening behind the scenes of Monero lately. Whether that means the price will stay above $500 or even hit a new all-time high is a different matter. Cryptocurrency markets rarely behave rationally, yet that is part of what makes them exciting.
Looking to advertise? We will gladly help spread the word about your project, company, or service. CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected]
Recommend
-
12
Monero (XMR) – Hodlalert
-
11
MoneroXMRPrice$154.9524 Hour % Change-5.02%Market Cap$2.76B
-
4
01:18Monero（XMR）将于7月16日进行硬分叉火星财经消息，Cointelegraph报道，门罗币（XMR)社区就7月16日进行硬分叉达成共识，将在区块高度2,668,888处启动主网硬分叉，包括将目前门罗币的环签名（ring...
-
13
Render (RNDR) experienced key developments in 2023, reflecting its growing influence in cryptocurrency and blockchain. These developments are crucial to understanding the trajectory and potential of Render as a project. Here’s an overview....
-
9
Stacks (STX), a blockchain project integrated with Bitcoin, has seen significant developments in 2023. CryptoMode explores five key advancements within the Stacks ecosystem, offering insights for those new to this dynamic field. Each development i...
-
2
In 2023, BitTorrent Token (BTT) experienced several significant developments that have reshaped its ecosystem and influenced its performance in the cryptocurrency market. Here are five significant developments to note.Surge in User Base...
-
6
Today, we provide an overview of the significant developments for the Synthetix Network (SNX) in 2023. It is one of the frontrunners in merging real-world assets with blockchain technology.Enhanced Platform Features and Trading Data Acc...
-
3
The Sandbox, a blockchain-based virtual world created by Pixowl in 2011, has evolved significantly in 2023. It allows users to create, buy, sell, and build digital assets within a gaming environment. CryptoMode explores five critical developments...
-
10
In 2023, KuCoin (KCS), one of the leading names in the cryptocurrency industry, made several key developments. We look back at five significant advancements everyone should take note of.New Products and Services LaunchDuring...
-
5
5 Major Helium (HNT) Developments in 2023
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK