Monero (XMR) Thrives While Most Coins Falling
Only because of Musk’s interest in Dogecoin the investors are still keeping their eyes focused on the coin with the dog’s image. But let’s take a look at slowly growing Monero; it has no significant news or celebrity-backed support.
The only CPU minable Monero has been flourishing since Bitcoin got crazy fame again during the pandemic when some people came up with the decision to keep their investments in crypto coins. Anyway, XMR isn’t only value storage but it is widely used globally as an exchange coin after ETH and BTC, although it is really hard to mine by CPU as it takes so much time.
This January XMR enjoyed quick crowd purchases that led to $275 on the 20th of February but that was the peak. Just in three days, it lost 96 points. The almost flat movement came along with the March trades.
April became very interesting until the day of 21. Very sharp volatility is taking part as the exchange feature of the coin doesn’t really help. Only big purchases with long-term holding can be a factor in keeping the coin to survive this massive investors’ escape from the crypto market to somewhere else.