Monero cryptocurrency is one of the most popular cryptographic assets in the market thanks to its ability to avoid tracing and security as well as high demand for various reasons. With an impressive $4.4 billion market cap and over $222 million daily trading volume, the coin is considered a sound investment in many countries where you can sell them. If privacy and safety of funds are your top priority, you should pay close attention to this asset.
Due to its high liquidity and good trading volume, it is a great target for a good trading script that can automatically trade it quite efficiently.
The short answer is a decentralized cryptocurrency based on a distributed public ledger yet applying an unprecedented focus on technologies allowing for increased privacy and anonymity. The network is highly protected against any form of spying or tracing making it a perfect tool for many types of operations including a variety of uses in the darknet where Monero is widely used as a way to launder and hide money.
The initial idea behind Monero was to create an impenetrable, untraceable currency that would be completely removed from any financial institute dictating the flow of assets and controlling value. The Monero price chart indicates that these goals are being achieved at a very nice pace.
The open-source nature of the project allowed it to gain the interest of thousands of developers working from all over the world to introduce new security features to the network. Monero has the third largest team of developers lagging behind only BTC and ETH networks.
So far, the mining community managed to produce over 18 million tokens comprising the total circulation at the moment of writing. The current value of Monero is $242.30. It is argued that crypto bot trading is an efficient way to trade the asset.
While the vast majority of users of the coin believe that Monero is heading in the right direction and praise the development team for high security and privacy, some investors expressed their concerns with the current situation regarding the token. It was delisted on many trading platforms including Coinbase and Bittrex. Despite the news, Monero (XMR) coin price was barely affected.
Recently, Kraken and EXMO also announced that they are planning to delist the coin by the end of 2021. Undeniably, the pressure from various government bodies affected many exchanges although many stood strong protecting the coin.
There are several reasons why the coin is both loved by the community and hated by the governments and law enforcement:
Monero cannot be traced except some extremely rare cases (like churning);
The token is traded mostly on P2P platforms using other coins to launder the funds;
Despite various efforts from officials, the coin continues to be valuable and suited for active trading (as can be seen on Monero value charts);
The devs and many exchanges expressed their support for the network and everything it stands for.
The situation with Monero may worry some investors but announcements of delisting did not affect the value of Monero as hard as many believed. If you are interested in crypto copy trading or other automated methods of crypto management, take a look at Monero it has enough liquidity and market activity for exactly that.
At the same time, the numbers are great showing improvements in both market cap and daily trading volume. Even if huge exchanges will delist the coin, its value will likely stay preserved and it will move to fully independent, decentralized platforms. To stay updated with monero current price, join Wunderbit trading platform for free!