Monero (XMR), one of the privacy-focused altcoins frequently criticized by the cryptocurrency industry, started the new week by delighting its investors. XMR, which experienced a major jump in the last minutes, experienced a significant increase in trading volume, reaching over 40% in 24 hours, despite the lack of a clear catalyst. XMR has climbed well above $320, a level last seen in May 2021. However, the rise in XMR was not permanent and some of the gains were erased. It was pulled back to $282 levels in the last minutes. Commenting on the XMR rally, Min Junng, research analyst at Presto Research, said, “There appears to be no clear catalyst behind XMR’s recent rally. Network activity remains consistent with typical levels, suggesting the move may be more speculative in nature.” Monero, which was delisted by Binance in recent months, has received support from important names in the cryptocurrency sector. Ethereum (ETH) co-founder Vitalik Buterin stated in his previous statements that he attaches importance to privacy, thus reviving interest in privacy-focused altcoins such as XMR. *This is not investment advice. Continue Reading: There Was a Huge Jump in the Altcoin That Binance Controversially Delisted! What's the Reason?
