Eduard Watson

2 months ago

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Monero (XMR) is in the spotlight again following the recent piece of news that surfaced these days.

Exodus to bring support for Monero on iOS

Twitter users claimed that there are no iOS-based wallets that are currently supporting Zcash and other privacy coins.

Exodus revealed the answer that you can see below.

https://twitter.com/exodus_io/status/1186695689083985926

The response was: “So @monero on @exodus_io iOS and Android sooooon(tm). Will be interesting to see their implementation.”

Monero protocol update

You may recall that the upgrade for the Monero network is scheduled to take place on 30th November and according to the candlestick chart that’s linked to the XMR/USD pair, on tradingview [based on data obtained from the Poloniex Exchange], “one can note that Monero is being propelled forward towards $60 due to the presence of strong bullish momentum,” reveals OurBitcoinNews.

The online publication continues and highlights that there’s  “A new level of resistance was erected at $70.924, and initial support lies near the $50.313 mark. If the bull-run continues, XMR would land in overbought territory by next week.”

Monero vs. Bitcoin

Monero was recently in the news when the privacy-oriented coin was compared to Bitcoin.

There’s a recent report coming from the German Ministry of Finance which highlights the risks that privacy coins are posing to the financial system and this risk is said to be greater than the once posed by Bitcoin, reveals the Decrypt report.

This is mainly due to the anonymous nature of transactions that are carried out using Monero.

“Due to the increasing popularity of Monero on the Darknet, it can be foreseen that this crypto asset, especially, will gain more practical relevance in the future in the area of securing and exploitation,” according to the report that we mentioned above.

Regarding the price of the privacy-oriented coin these days, at the moment of writing this article, XMR is trading in the green and the crypto is priced at $59.34.

Coins Mentioned

XMR

Monero

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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