- Monero’s (XMR) value may rise.
- Numerous advancements and improvements have occurred in its environment.
- The market capitalization of the XMR coin has also surged during the last few months.
Monero XMR/USD is a privacy-focused open-source cryptocurrency that was established in 2014.
Its blockchain network was purposefully designed to be opaque, which ensures that transaction data, such as senders and receivers’ identities, as well as the value of each transaction, are completely anonymous.
Monero (XMR) upgrades as a growth driver
On April 8, 2022, Monero’s official Twitter account posted Reuvo Weekly Issue 115, in which they covered recent developments and changes from March 31 to April 7.
MoneroPay, a back-end service for accepting, sending, and tracking XMR payments, was updated to version 2.0.0 in this release.
Additionally, XMRig v6.17.0 was released. Additionally, we discovered a notice on the Bear Arms N’ Bitcoin 2022 conference, which took place from April 9 to April 10 in Miami, as well as an announcement regarding the availability of MoneroKon 2022 tickets.
Additionally, El Monero, the Spanish-language XMR podcast, released episode 21 featuring Martha Bueno.
Along with this, there are concerns about entities utilising Monero to circumvent sanctions, which could have raised the token’s popularity among investors.
Additionally, the American think tank Brookings warned that Monero may be used in a sanction-evasion plan. Additionally, we discussed how Monero’s value may fluctuate following Biden’s announcement of Benign crypto oversight.
With this in mind, let’s take a look at the token’s performance and future prospects.
Is Monero (XMR) a good investment?
Monero (XMR) was worth $240.54 on April 11, 2022.
To get a sense of what this price position means for the total worth of the Monero (XMR) cryptocurrency token, we’ll examine its all-time high and March performance.
The Monero (XMR) token reached an all-time high of $542.33 on January 9, 2018. As we can see, the token was worth $301.79 at its all-time high, a gain of 125 percent.
However, when we examine the token’s performance during the previous month, we see that Monero (XMR) reached its lowest point on March 7 at $154.95.
On March 29, it reached a high of $224.38. This indicates that the token’s value climbed by $69.43, or 45 percent.
Between March 29 and April 11, the token gained an additional $16.16 or 7%.
Taking all of this into account, we can anticipate Monero’s (XMR) value increasing to $270 by the end of April, making it an excellent investment.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.