Monero Price Hits First Record High in 2 Years

The current price development of many cryptocurrencies encourages many investors to join the crypto world. Bitcoin has also increased in value in the last few days, which may also be due to the latest news. The global payment provider PayPal announced that it would offer Bitcoin and other cryptocurrencies for sale from the first quarter of 2021. Also, Monero (XMR) benefits very much from the positive news and could reach the highest value of the last 2 years.

Monero (XMR) has seen a stable upward trend for a long time. As one of the few digital currencies with a focus on privacy and anonymity, it’s the first choice of many investors. Even if it’s often associated with illegal activities, Monero (XMR) is a reliable project. Its properties make it stand out from other currencies and thus offer great potential for the future.

Digital currencies are considered as bearers of hope for the upcoming digitization. Due to the wide area of ​​application of different tokens, these can be used and adapted individually. Many areas of the economy could benefit from this, including Industry 4.0 and the Internet of Things. Moreover, many reputable companies have already favoured cryptocurrencies and blockchain.

Monero (XMR) Price Development 2020

In early 2020, the XMR price was $45. By mid-February, it had already doubled and temporarily exceeded $90. Due to the Coronavirus crisis, Monero (XMR) also suffered major losses and fell to a value of $30. 

A stable upward trend then took place and the price hit the $130 mark in October 2020. This corresponds to the highest level since July 2018 and gives hope for successful development. The previous high was previously reached in January 2018, when XMR briefly broke the $540 mark.

Monero currently has a market cap of around 2.3 billion US dollars, making it one of the largest cryptocurrencies. With a circulation supply of 17.7 million units, the current rate is $127.61. The prices are also available in real-time.

How will XMR price develop in the coming months? Will the XMR price hit its all-time high? Feel free to share your opinion in the comments!

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