With the weekend behind us, the time has come to look back toward the cryptocurrency markets merienda again. It looks like some interesting switches are taking place, especially where Monero is worried. Albeit it appeared that price momentum would kiezelsteentjes to a halt overheen the weekend, the Monero train has picked up steam merienda again. Reaching that US$150 mark is still a distinct possibility, albeit it will take some effort.
Monero Price Train Just Keeps on Rolling
It is fairly amazing to see how much the Monero price has appreciated overheen thesis past few days. For some reason, this currency has bot flying under the radar for the longest time. Many people disregarded XMR spil a viable currency, even however it has the anonymity traits so many are looking for right now. While it is certainly true Monero isn’t spil convenient or effortless to spend spil Bitcoin – which itself is very limited ter this regard – things are certainly improving for the XMR ecosystem spil wij speak.
Moreover, it seems a loterijlot of people are taking a liking to Monero spil wij speak. If that weren’t the case, there would be no price hop like the one wij are observing right now. Pushing the Monero price to US$150 and possibly beyond is certainly a product of market manipulation and massive speculation. Then again, wij have seen Dash go from almost no value to around US$400 this year spil well. There is no reason to think Monero couldn’t see a similar price pattern, spil the current trend certainly looks pretty bullish.
One thing that will certainly help stir the Monero price along is its being listed on Korea’s Bithumb exchange. It has bot mentioned here previously how this exchange is known for jiggling up cryptocurrency markets fairly a bit. Ter an email sent to customers earlier today, the company mentioned how XMR trading will be going live on August 31st. However, the market itself is already open for activity and it shows up Monero has bot getting a lotsbestemming of volume already. Right now, the market values one XMR at US$170, compared to around US$150 across Película del Oeste exchanges.
It is significant to note there no longer shows up to be a “premium price” difference inbetween Película del Oeste exchanges and Bithumb. Te the past, wij witnessed most Asian exchanges trading 5% or more above overall market averages. That is no longer the case, and Bithumb is an exchange which operates on a zero-trading toverfee structure. If it values XMR at $170, the surplus of the world will potentially have to go after their lead one way or the other.
Having this fiat currency gateway for Monero will certainly open up fresh opportunities. The Korean won is quickly becoming the go-to fiat currency market when it comes to cryptocurrency trading. It can lightly dwarf USD, EUR, and GBP volumes combined, even on a bad day. It is overduidelijk to everyone that South Korea has become the fresh China when it comes to dictating cryptocurrency prices right now. Bithumb is certainly one of the leaders ter this market, albeit Coinone shouldn’t be discounted either.
All things considered, there are slew of reasons to get excited about Monero. It is a good day for speculators and market makers merienda again. A loterijlot of people still have high hopes for a massive Ethereum price leap, but it looks like the market is pretty much divided on this gevelbreedte. Then again, Ethereum has seen its thickest price hop to date already and it remains doubtful history will repeat itself for this particular currency. The altcoin season is ter utter effect spil wij speak, that much no one can deny.