Cryptocurrency markets are always good for some degree of speculation. Although there is a very strong focus on the top 5 cryptocurrencies right now, it seems the big surprise of the day is none other than Monero. For some unknown reason, the anonymity-oriented cryptocurrency has risen over 14% in value these past 24 hours. That is rather remarkable, although there could be many different reasons for this sudden price movement.
MONERO PRICE SURPASSES US$45 ONCE AGAIN
There have always been a few cryptocurrencies which focus on the features Bitcoin can’t provide. Both privacy and anonymity are two traits often associated with Bitcoin, yet wrongfully so. The world’s leading cryptocurrency is pseudonymous, but offers no privacy or anonymity traits to speak of. While some people see this as a weakness, it is evident Bitcoin is designed with these “flaws” in mind.
Those who require more privacy and anonymity must look into different cryptocurrencies to achieve that goal. Ethereum, Litecoin, and Ripple will not get you very far either. There are only two currencies in the top 10 which provide such features: Dash and Monero. However, Monero seems to have a leg up over Dash when it comes to anonymity, which is the aspect the vast majority of community members desire the most. It is highly worth your time to check out the Monero website to see how its anonymity is achieved.
It is safe to say these are rather interesting times for anyone who values privacy and anonymity in the cryptocurrency world. Two major darknet markets have been shut down, both of which used Bitcoin as their main currency. BitMixer is also on the way out, as its operator had a sudden change of heart and feels “other currencies” are better suited to use for anonymity reasons. Monero now has a legitimate chance of overtaking Bitcoin in this regard, as people will have a tough time finding a trustworthy mixing service.