Monero (XMR): August 13 Update, 258% Target

Monero (XMR) is making a major update to its blockchain. This crypto is one of the oldest in the sector, but it is carried by its community. Which gives it superior strength in the cryptocurrency sector. Moreover, its unique properties make it unsurpassed. To analyze

Monero (XMR): The old blockchain is back in 2022

Monero (XMR) is one of cryptos the oldest on the market. It was launched in 2014 and is practically the only one crypto allows for such a high level of privacy and security. Its origins are secret, and the vast majority of the original developers of this network have remained anonymous. A choice that corresponds well to his DNA cryptocurrency. Rumor even has it that Satoshi Nakamoto, the creator of Bitcoin (BTC) would be one of the architects behind this crypto.

To maintain such a level, updates are frequent. And the next one will have special significance for the network. This is v0.18.0.0 which will change the Monero GUI software. This major change will be posted on blockchain on 13 August 2022. Among the new implementations we find, but not only:

  • compatibility with Bulletproofs+
  • the ability to see tags
  • an increase in the size of the circles – ring size – at 4 p.m
  • a change in fees transaction.

A separate operation

Monero (XMR) doesn’t work like the others cryptocurrencies. This is where its strength and security come from. The size of the circles corresponds to the number of signatures needed to validate one transaction, therefore network security. Bulletproofs+ on the other hand is a ZK Knowledge protocol compatible with blockchain Monero. This type of protocol makes it possible to validate transactions without messing up blockchain and at the same time maintain an intact level of security.

Monero may be an old one blockchain on the time scale cryptocurrencies, it stays up to date and continues to implement the latest discoveries in terms of scalability and security. Most of the programmers who participated in the development of this update operated on a decentralized and community model, moreover, they did so on a voluntary basis.

Monero (XMR) Technical Analysis and Forecast

Today ranked number 28 in the ranking of market value from Coinmarketcap, monero (XMR) has a market capitalization of 2.5 billion euros. The trading volume on platforms such as Binance and Coinbase is 127 million euros. Its price on July 23, 2022 is 142 euros, that is, a loss of 5.64% over the last 24 hours.

  • monero (XMR) hit an ATH of $518 on May 5, 2021
  • It reached a low of $100 on June 17, 2022.
  • It currently trades at 38% of its support.
  • If he recovered his 2021 ATH, he would get 258%.

It remains to be seen whether the update will allow Monero (XMR) to get back into the race. Although currently at -70% of its previous ATH, monero remains a particularly competitive cryptocurrency. Its privacy and security features make it a outsider without competition in the sector. In addition, the society’s activity and its long life expectancy testify to an extraordinary dynamism. It seems certain that monero (XMR) will never go away.

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