Coin of the day is Monero.
Monero (XMR) is an open-source cryptocurrency created that focuses on privacy and decentralization that runs on Windows, macOS, Linux, Android, iOS, and FreeBSD. Monero aims to improve on existing cryptocurrency design by obscuring sender, recipient and amount of every transaction made as well as making the mining process more egalitarian.
The focus on privacy has attracted use by people interested in privacy or even in evading law enforcement. The egalitarian mining process made it viable to distribute the mining effort opening new funding avenues for both legitimate online publishers and malicious hackers who covertly embed mining code into websites and apps. Monero is a popular coin for mining among mining pools and individual users, the team is constantly fighting against the monopoly on mining, which comes from ASIC producers.
Latest News
Technicals
After 6th of April XMRBTC sagged below the 0.025 level and went into lateral movement. Today the was picked up with the rise in volumes and broke above the 100-days EMA, which was serving as a resistance lately. The growth stopped at the resistance zone 0.0285 - 0.03. A breakthrough above this zone will be a sign of further growth. 0.0276 level and 100-days EMA should play a supportive role in the bullish scenario.
Monero (XMR) is an open-source cryptocurrency created that focuses on privacy and decentralization that runs on Windows, macOS, Linux, Android, iOS, and FreeBSD. Monero aims to improve on existing cryptocurrency design by obscuring sender, recipient and amount of every transaction made as well as making the mining process more egalitarian.
The focus on privacy has attracted use by people interested in privacy or even in evading law enforcement. The egalitarian mining process made it viable to distribute the mining effort opening new funding avenues for both legitimate online publishers and malicious hackers who covertly embed mining code into websites and apps. Monero is a popular coin for mining among mining pools and individual users, the team is constantly fighting against the monopoly on mining, which comes from ASIC producers.
Latest News
- On April 6th, in an attempt to protect the cryptocurrency against ASIC miners, the altcoin’s developers completed the transfer to version 7 of Monero.
The motivation behind the latest upgrade meanwhile lies with hardware manufacturer Bitmain. In March, the Chinese company announced a new product, the Antminer X3, which was specifically developed to mine Monero.
- Verge coin, one of Monero's rivals, lost a lot of value yesterday due to controversial news about the partnership with porn industry companies such as Pornhub. Despite the fact that this news is not bad but rather unusual, they clearly did not meet expectations of many traders.
- Also, today is the 4-year anniversary of Monero today!
Technicals
After 6th of April XMRBTC sagged below the 0.025 level and went into lateral movement. Today the was picked up with the rise in volumes and broke above the 100-days EMA, which was serving as a resistance lately. The growth stopped at the resistance zone 0.0285 - 0.03. A breakthrough above this zone will be a sign of further growth. 0.0276 level and 100-days EMA should play a supportive role in the bullish scenario.
