Additional Read: What is Monero?
|Date||All-Time High||All-Time Low||Market Capitalization|
|17 February 2022||$181||$163||$3.04B|
|16 February 2022||$183.8||$177.8||$3.30B|
|15 February 2022||$183.4||$174.5||$3.16B|
|14 February 2022||$177.5||$167.9||$3.19B|
|13 February 2022||$175.3||$170.1||$3.11B|
|12 February 2022||$175.1||$164||$3.14B|
|11 February 2022||$181.5||$165.8||$3.15B|
|10 February 2022||$187.3||$176.8||$3.32B|
|09 February 2022||$186||$175.5||$3.30B|
|08 February 2022||$188||$174.3||$3.20B|
|07 February 2022||$185.3||$170.9||$3.30B|
|06 February 2022||$174.4||$166.4||$3.05B|
|05 February 2022||$170.1||$161.6||$3.00B|
|04 February 2022||$166||$146.5||$2.91B|
|03 February 2022||$147||$140.3||$2.60B|
|02 February 2022||$150.3||$143.9||$2.67B|
|01 February 2022||$148.2||$143.1||$2.61B|
|31 January 2022||$148.1||$140.4||$2.61B|
|30 January 2022||$155||$145.6||$2.73B|
|29 January 2022||$155.6||$148.7||$2.75B|
|28 January 2022||$149.7||$140.8||$2.63B|
|27 January 2022||$149.9||$139.2||$2.64B|
|26 January 2022||$158.8||$142.8||$2.79B|
|25 January 2022||$147.9||$139.4||$2.64B|
|24 January 2022||$156.8||$134.3||$2.60B|
|23 January 2022||$158.9||$148||$2.75B|
|22 January 2022||$175.5||$140.1||$2.69B|
|21 January 2022||$192.3||$167.2||$3.29B|
|20 January 2022||$210||$187.7||$3.73B|
|19 January 2022||$213.1||$199.1||$3.70B|
|18 January 2022||$222.4||$199.5||$3.66B|
Additional Read: Monero Technical Analysis
Source : Tradingview
Monero, Dash & Zcash are among the popular private blockchains which allow the users to transact with publicizing the data. Monero specifically ensures the user balances or activity is not visible to the 3rd person. And hence here on this platform, every user is anonymous unlike the other blockchains like Bitcoin or Ethereum. Below mentioned is the comparison of the price trend of Monero(XMR), Dash(DASH) & Zcash(ZEC), which are Monero’s tough competitors in being the most popular private blockchains and tokens.
Source : Tradingview
All the 3 crypto assets maintained a sensible trend throughout the second half of 2021 which also included multiple setbacks. While Monero & Dash maintained a consolidated uptrend, Zcash excelled to mark the monthly highs. However, very quickly the ZEC price shed most of its gains and dropped below both of its competitors. Currently, ZEC is low compared to the other 2, while XMR price maintained a decent trend.
Ever since the beginning of 2022, all three maintained a similar trend. All the three tokens plunged equally at the same time and also recovered together. However, Monero maintained its upper hand among the three tokens which is below the average levels by 32%, while Dash is 38% and ZEC is 42.5% at the press time.
As mentioned in the chart, the XMR/BTC trading pair is appearing pretty much stronger than the XMR/USDT pair ever since the beginning of yearly trade 2022. The asset trading against USDT has plunged more than 33% compared to that of BTC which records a 27% drop. However, both maintain a considerable consolidation and spiked notably.
Yet the XMR/USDT recovered magnificently yet still below the BTC pair. Further if the bullish momentum aggregates, then the BTC pair may tend to swing within similar levels, while the USDT pair may thrive high to regain higher positions.
Monero price traded below $100 throughout 2020 and spiked high amid the extreme bull run in 2021. It managed to jump from around $150 to as high as $519 to hit its peak, woefully, the market crash slashed the price by more than 75%. The asset recovered to some extent but after attaining the levels around $300, the XMR price faced a pullback and consolidated above $150.
The current market trends are pretty uncertain as the price trend is an amalgamation of both bullish and bearish trends. Therefore, until the market sentiments turn a little bullish and sustain, no drastic uptrend may be expected. The XMR price may attempt hard to sustain above $150 and also during each flip from the downtrend may try to range high slowly yet steadily to achieve levels above $200 initially.
Once a notable uptrend is sustained, which is expected in the second half of 2022, the asset may propel high to seek new highs. However, $500 is a reasonable target to be attained by the end of 2022 only if the asset maintains a healthy consolidation amid a bearish trend and a strong uptrend during the bullish trend. Yet if in case a notable bull run ignites, the XMR price may even slice through the current ATH and hit the levels above $600 or $650.
The price has recently flipped from the yearly lows below $150 where-in it consolidated for nearly more than a week. The extended consolidation here drained the strength of the rally and hence when it flipped it could only jump nearly 25% which was followed by a 13% drop due to exhaustion. Moreover, the technicals suggest lower lows are incoming and hence the $150 support levels may be tested very soon.
However, the market trends are expected to stabilize by Q2 end of Q3 2022. And here is when one can expect a considerable flip in the trend. The XMR price maintains the current swing and may be restricted below $400 or $450 to end the yearly trade. If another small bull run ignites, then the asset could breach through the consolidation and mark new highs in between $620 to $680, above the current ATH.
Monero’s Extremely close to a 51% Attack
The private token is very close to getting attacked very soon as a specific mining pool commands close to a 48% hash rate. The whale-dominated hash rate is very much concerning as if the hash rate reaches more than 51%, the miners may take the whole control of the blockchain. According to the reports the largest pool MINEXMR is responsible for more than 45% of the hash rate.
Monero Gained Spotlight Amid the 30% Tax on Cryptos in India
India recently proposed a hefty 30% tax on crypto profits and 1% TDS on every transaction. The frustrated crypto users called the whole masses to start dealing with the privacy coin mainly Monero to avoid paying the crypto taxes.
Investing in privacy coins like Monero or any of the popular cryptos is extremely simple on CoinDCX. All you need to do is download the CoinDCX App on your smartphone and enter the required details. Once your details are verified, fund your wallet and purchase your desired token.
CoinDCX is the most popular crypto exchange in India and hence managed to mark a milestone of 1 Crore users. To celebrate this achievement, CoinDCX presents India’s biggest Market Maker Communication. You just need to trade BTC/INR, ETH/INR and/or USDT/INR in high volume and become eligible to win rewards worth 1 Crore. So download the App now!
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