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Market Cap: $ 3 817 453 951 971 / 24h Vol: $ 234 712 881 307 / BTC Dominance: 58.482353958733%

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What Monero’s northbound momentum tells you

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Monero [XMR] witnessed a considerable increase in its social activity in the last 24 hours. The uptrend was not only limited to its performance on the social front, but it was also reflected on the coin’s price chart. This happened a week after the blockchain released its last network upgrade, making Monero more stable. However, will a hike in social activity be enough for the blockchain to maintain its price trajectory?

Read Monero’s [XMR] Price Prediction 2023-24

CryptoDep, a popular X account that posts updates related to cryptos, recently revealed in a tweet that XMR’s social engagement reached 625 thousand in the last 24 hours on 20 August. Not only that, but the coin also had an Altrank of 12, which was a bullish signal.

⚡️Coin of the day by social activity – #Monero $XMR
20 August 2023#Monero #XMR is a cryptocurrency that uses a blockchain with privacy-enhancing technologies to obfuscate transactions to achieve anonymity and fungibility. pic.twitter.com/RTf7AcCzSg

— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) August 20, 2023

The growth in popularity was reflected well on the coin’s price chart, as its value increased by more than 2% in the last 24 hours. According to CoinMarketCap, at press time, Monero was trading at $147.63 with a market capitalization of $2.7 billion. Additionally, its one-day trading volume also shot up by 30%, acting as a foundation for the price hike.

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Apart from popularity, another possible reason behind this uptrend could be the last network update that the blockchain pushed on 13 August 2023. The update brought along several new features, such as an upgrade to its Bulletproof algorithm to make it Bulletproof+.

This reduced typical transaction size by nearly 5-7 % and also made transactions lighter and faster while improving typical verification performance by 5-7%.

However, despite the recent hike in price, the blockchain’s mining sector witnessed a decline. This was evident from the drop in XMR’s hashrate, suggesting an outflow of miners since July 2023.

Source: 2miners

Though the price trend looked promising, a few of the metrics were concerning. For instance, XMR’s funding rate turned red. This meant that derivatives investors were reluctant to buy XMR at a higher price. Additionally, its open interest also dropped slightly, which was a negative signal.

Source: Santiment

How much are 1,10,100 XMRs worth today

Nonetheless, a few of the market indicators remained bullish. For instance, after entering the oversold zone, the Relative Strength Index (RSI) gained upward momentum, which can help push XMR’s price further up.

Additionally, its MACD also displayed the possibility of a bullish crossover in the days to follow. Unfortunately, the Chaikin Money Flow (CMF) continued to favor the bears as it remained considerably below the neutral mark.

Source: TradingView

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    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

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