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You are here: Home / Archives for Monero (XMR)

Monero (XMR)

Monero confirms hard fork not required; funds aren’t at risk of being stolen

July 28, 2021 by Chayanika Deka

A significant bug was found by the developers of the privacy-centric cryptocurrency Monero that has the potential of exposing the occurrence of an output transaction conducted immediately after receiving funds. The bug in the Decoy system was first discovered by software developer Justin Berman when he observed that transaction destination to be identified.

According to Berman’s overview of the decoy selection algorithm, the bug led to “next to 0 chance of selecting extremely recent outputs as decoys.” This essentially means that if the Monero [XMR] users spend their tokens within the time period of 20 minutes of receiving them, there is a strong possibility that their transaction would be detected as a real transaction among the many fake ones.

🚨 WARNING TO MONERO USERS 🚨

A significant decoy selection bug has been found that may severely limit the privacy of spends shortly after receiving funds. This bug persists in the current wallet code. This is NOT good at all. #monero #xmr https://t.co/aqehLY3JUh

— Justin Ehrenhofer 🎂🏳️‍🌈 (@JEhrenhofer) July 27, 2021

Monero confirms full network upgrade not required

Since its very inception, the privacy-focused crypto-asset has always been controversial. The crypto naysayers have always targeted the asset and associated it with dirty money that disappears without a trace. Hence, many community members were concerned about their privacy and being exposed to malicious entities.

However, Monero’s official Twitter handle explained that the bug in question does not disclose addresses or transaction amounts. More importantly, the user funds were never at risk of being stolen. It also notified that until a fix can be implemented in a future wallet software update, users can significantly reduce the risk to their privacy by waiting one hour or longer before spending their newly-received XMR token.

According to the Twitter thread, Monero Research Lab and Monero developers are investigating the bug and will provide an update when wallet fixes are available.

Previously, several financial regulators across the globe have attempted to break Monero’s privacy. In 2020, the US Internal Revenue Service offered a bounty of up to $625k o anyone who can “reliably produce useful results on a variety of real-world CI cryptocurrency investigations” involving the crypto-asset.

Filed Under: Altcoin News, News Tagged With: Monero (XMR)

Monero [XMR] To Come Across A Blip Before Making Its Way To $300

February 19, 2021 by Sahana Kiran

Privacy coins like Monero [XMR], Dash [DASH], and many others were sidelined during this bull run, thanks to the stringent laws against these assets. Nevertheless, most of these assets exhibited a laudable performance. Just when the overall market cap of the cryptocurrency industry hit a high of $1.60 trillion all the other assets were seen underpinning this trend. After a long stay within the top fifteen, Monero found itself slipping below the 20th position. Justin Sun’s TRX was also seen mirroring a similar course. However, during the time of writing, XMR had climbed up back into the eighteenth position was its market cap was recorded at $4.66 billion.

Over the last seven days, XMR bagged in gains of over 44% pushing the price of the privacy coin up to a high of $275. However, the altcoin retraced back to $261.42, during press time. The coin was seen witnessing a surge of 4.19% in the last 24-hours.

Monero [XMR] One-Hour Price Chart

Monero
Monero [XMR] To Come Across A Blip Before Making Its Way To $300 3

The short-term price chart of privacy coin XMR was seen accomodating the bears. After quite a long journey to the hilltop, XMR seems to be taking a breather. The Parabolic SAR indicator set a barricade above the candlesticks in the XMR market to prevent any possible upward breakout. The Awesome Oscillator, on the other hand, revealed the strong presence of bears by laying out red closing bars. The Relative Strength Index indicator was exhibiting a neutral notion in the XMR market with no major buying or selling activity.

Monero [XMR] One-Day Price Chart

download 57
Monero [XMR] To Come Across A Blip Before Making Its Way To $300 4

The Bollinger Bands used in the one-day price chart of XMR suggested that the coin was in for a surge in volatility. The MACD indicator had persisted the bullish crossover it had undergone earlier this month. The Money Flow Index indicator was seen gliding towards 80 median which suggested that the altcoin was being overbought.

While the all-time high of XMR was $495.84, which was achieved by the coin about three years ago, the bulls in the XMR market revealed that $300 was attainable.

Filed Under: News, Altcoin News, Market Analysis Tagged With: Monero (XMR)

Monero [XMR] Tries To Fend Off Bears As Bulls Try To Enter Its Market Despite Bittrex Delisting

January 2, 2021 by Sahana Kiran

Bitcoin finally broke $30K. Several assets followed the trail of this unstoppable coin. However, it was a bad day for Monero [XMR] and other privacy coins. While XRP continued its journey downhill, Monero [XMR], Zcash [ZEC], and Dash [DASH] accompanied the asset. Prominent cryptocurrency exchange, Bittrex waved goodbye to the aforementioned assets which led to the plummet of these assets. Dash was dipping by over 12% while Zcash was nosediving by 10%. Dogecoin [DOGE] was seen catching up with Bitcoin as the asset was rising up by over 43%.

At the time of writing, privacy coin Monero [XMR] was trading for $138.75 with a 15.55% drop over the last 24-hours. Back in the day, XMR was one of the top ten coins, however, several coins prevailed and XMR was left trying to most past the tenth place. The market cap of XMR was at $2.6 billion which helped the asset retain a place as the sixteenth largest coin. 

Monero [XMR] One Hour Price Chart

Monero

The one-hour chart of XMR revealed that the altcoin was still dwelling in the bearish region. The volume during the recent downward breakout was seen notably high. The 50 daily moving average [blue] was above the 100 daily moving average [red] was is a bullish crossover. However, the 50 daily moving average was above the candlesticks which are considered a bearish sign.

Monero [XMR] Price Chart With Indicators

Monero

Certain indicators restored hope in the XMR market as the Bittrex announcement had caused great damage to the privacy coin. The Parabolic SAR indicator welcomed the bulls after laying out dotted lines below the candlesticks. These lines are bound to act as a barrier to any possible downward breakout. The Chaikin Money Flow indicator was seen swimming towards zero away from the bearish realm. The Awesome Oscillator yelled bulls by forming strong green closing bars. XMR could possibly reverse its downtrend and bag gains in the ongoing bull run.

Filed Under: Market Analysis, Altcoin News, News Tagged With: Monero (XMR)

Bittrex Says Sayonara To Monero And Other Prominent Privacy Coins

January 2, 2021 by Sahana Kiran

Bittrex made news earlier this week after it decided to suspend trading services for XRP. The crypto exchange is once again making news after it bid adieu to popular privacy coins. The cryptocurrency industry started out as a station free from any scrutiny from the government or any form of regulation. However, it seems like that’s all in the past now as regulations are getting more severe which has coerced several crypto exchanges to comply by the regulators. Bittrex seems to be getting on the good books of financial watchdogs with its latest act.

Bittrex Kicks Out XMR, ZEC As Well As DASH

Back in 2019, the FATF’s travel rule shook the crypto world. Prominent privacy coins like Monero [XMR], Zcash [ZEC] along Dash [DASH] was subject to immense unrest after the financial regulators categorized these assets as a medium for illicit activities. The hidden traction details posed as a huge drawback for these coins. While several exchanges were considering delisting privacy coins, irrespective of their popularity, Bittrex went ahead and announced the same.

In a recent tweet, Bittrex revealed that it intended to delist Monero, ZCash, and Dash on 15 January at 23:00 UTC. The tweet read,

#Bittrex Customers:

The $XMR, $ZEC, and $DASH markets will be removed on Friday, January 15th at 23:00 UTC.

Details: https://t.co/8qAdjuwryJ

— Bittrex (@BittrexExchange) January 1, 2021

The exchange’s blog post did not reveal the exact reason for the removal of these assets, it suggested that its regulatory standards, as well as compliance-related problems, could pave the way to the delisting of assets. On 15 January, all pairs that users were trading the aforementioned privacy coins would be nonexistent. The blog post further read,

“After the markets are removed, Bittrex generally seeks to provide users up to 30 days to withdraw any delisted tokens, but in certain instances the withdrawal period may be shortened. Users should withdraw any tokens before the posted withdrawal deadline.”

The crypto exchange affirmed that users could withdraw their tokens unless the exchange is subject to technical difficulties.

This announcement led to an array of downfall. Privacy coin Monero was seen dropping by over 17% at the time of writing, thanks to the Bittrex delisting news. At press time, the coin was priced at $136.80. DASH and Zcash were also following suit as these assets plummeted by 13.33% and 11.16% in the last 24-hours.

Filed Under: Altcoin News, News Tagged With: Dash, Monero (XMR), Zcash (ZEC)

Monero [XMR] Resumes An Uptrend After Taking A Breather

December 3, 2020 by Chayanika Deka

Monero [XMR] recorded an impressive rally after surging by 13.11% over the past week. Despite its association with fraudulent and illegal activities, and the dark side of the web among other controversies, Monero’s latest price action has outpaced all the other privacy-focussed cryptocurrencies.

Even as the coin took a mild hit following the market-wide correction, XMR bounced back in action as it recorded a mild increase of 1.06% over the last 24-hours. This pushed the price of the cryptocurrency as it was currently exchanging hands at $129.90 while holding a market cap of $2.30 billion and a 24-hour trading volume of $1.53 billion.

Now that the sideways trend appears to be coming to an end, what does the future looks like for the coin?

Monero [XMR] Daily Chart:

XMR e1606997717271

The popular privacy coin appeared to be consolidating below a crucial point of resistance for more than a month. After a period of entering stagnation, Monero was finally witnessing momentum building for another leg up.

The 50 DMA [Pink] slid below the XMR price candles after a brief stint above it following the retracement to its immediate support level while the 100 DMA [Yellow], as well as the 200 DMA [Purple], settled below it depicting a strong bullish momentum. Both 100 and 200 DMA now acted as crucial support points for the coin.

But are the rising optimism and the bullish sentiment among the buyers of XMR enough for the price to break above the current range?

M e1606998649558

The Bollinger Bands were in parallel to each other and did not show any distinctive hints of convergence or divergence. This essentially indicated that a period of consolidation within a tight rangebound would continue, at least for some time now.

The RSI also moved above the 50-median line in tandem with the price recovery which was indicative of a sentiment of increasing buying pressure among the market participants in the Monero ecosystem.

The above charts depicted that Monero has resumed an uptrend and would enjoy gains in the coming days. However, a significant breach above the crucial level of $135.43 might take some time to materialize. If it manages to swing past this level, XMR could further eye $148.6 and $168 levels respectively.

The support levels were found at $122.9 and $91.74.

Filed Under: Altcoin News, News Tagged With: Monero (XMR)

Lithuanian Government Acquires 6.5M Euros of Seized Crypto Sale

November 25, 2020 by Sahana Kiran

While the crypto market has been steering several into its industry, the government continues to bust scammy projects. Lithuanian government seems to be making the right use of the funds acquired in a past seize. As the price of Bitcoin has been on an uphill journey, selling the king coin or any other crypto coin can bring in immense profits.

Lithuanian Government Sells Bitcoin, Ether and Monero

At the time of writing, the price of Bitcoin had just pushed beyond $19K becoming more profitable than it was in the last two years. As per a recent announcement made by the State Tax Inspectorate [STI] of Lithuania which is the country’s tax authority, several cryptocurrencies were sold.

Previously, the country’s tax authority had seized crypto assets including Bitcoin [BTC], Ethereum [ETH] as well as Monero [XMR]. Recently, STI sold cryptocurrency worth 6.4 million euros, and the funds were further appended to the budget of the state. The STI revealed that conversion of these assets into fiat had taken about a day. The tax authority had to prep before converting crypto into fiat. In the process, they created a digital currency wallet that was previously confiscated.

The director of the State Tax Inspectorate Irina Gavrilova commented on the same and said,

“The whole process was new for the tax administrator, from the takeover of the confiscated cryptocurrencies to their realization.”

Furthermore, the director added that it would be more easygoing for the tax authority to sell seized cryptocurrencies in the future. While the STI did not mention the process and the execution of the selling of the assets, the tax authority seems to have made the right use of confiscated crypto.

Bitcoin in the meantime was headed towards $20K. The king coin was seen trading for $19,105.01. Over the last 24-hours, BTC had surged by 3.57%. ETH had, however, slumped below $600 despite acquiring gains of over 25% in the last seven days.

Filed Under: World, Altcoin News, Bitcoin News, News Tagged With: Bitcoin (BTC), Ether, Lithuania, Monero (XMR)

Monero Dodges Sybil Attack With No Major Wounds

November 11, 2020 by Sahana Kiran

Data theft has become a major predicament in the world today. The attackers haven’t even spared Monero, a network built on privacy. Since the data pertaining to transactions as well as user information remain in the wraps of the Monero network, everything that happens in the network is almost masked. However, the efforts of the hacker were considered to have failed, as they had almost no impact on the Monero network.

Monero’s Riccardo Spagni Calls Attacker Incompetent

Privacy centric network, Monero was recently subject to dainty distress following an individual’s attempt to pry into the network. Elaborating on the recent attack, Monero took to Reddit and pointed out that a batch of malicious nodes was discovered. These nodes were reportedly trying to meddle with the network. The attacker was attempting to employ a Sybil attack on the network by striving to correlate the transactions to the IP addresses of the node that broadcasts it.

The network identified and listed the activities of the nodes that led to suspicion. This list included active injection into the peerlists of honest nodes, exploitation of bugs to make sure malicious nodes replace honest nodes in the peerlist, mirroring block heights of the nodes, and concealing of data pertaining to these nodes, recording and associating IPs with certain kinds of transactions along with several others.

In the Reddit post, Monero affirmed that nothing was compromised on the network as the attack had zero effect on stealth addresses, masked amounts as well as ring signatures. Riccardo Spagni aka fluffy pony shared an array of tweets assuring the users of the network that no data was compromised as the attacker was mostly incompetent. His tweet read,

Monero

While the Sybil attack is easier to execute on other currencies, attacking the privacy-centric network Monero is rather difficult. Nevertheless, Monero’s built-in solution, Dandelion++ came to the network’s rescue and lowered the impact of the attack on it. Detailing on the functions of Dandelion++, Spagni tweeted,

“Without getting technical, Dandelion++ works by randomly “diffusing” transaction broadcasts. This means that for a Sybil attack to link a transaction to a node’s IP address it has to be intercepted at the very first node in the “stem” phase of a Dandelion++ broadcast.”

Spagni further added that steering away from the incompetency of the attacker, the attack was not large enough to disrupt the network against Dandelion++ as the attacker would have to launch thousands of nodes to do so.

Filed Under: Altcoin News, News Tagged With: Monero (XMR)

Monero, Polkadot, Cardano Technical Analysis On 5th November 2020

November 5, 2020 by Sahana Kiran

The crypto-verse has been attracting the bulls into its market and ousting the bears. However, Monero, Polkadot, and Cardano were seen in the red zone. Bitcoin has been spearheading the crypto market by hitting $14K while its dominance surged up to 65.3%. The global crypto market cap was also on an uptrend as it was rising by 5.15% over the last day pushing the total market cap to $415.98 billion.

Monero [XMR]

Monero was climbing up the crypto ladder in terms of market cap as it surged past $2 billion. However, the price of the privacy coin was seen depleting down by 4.74% over the last 24-hours. The altcoin was trading at $112.66 and the coin had endured a week-long loss of more than 8%.

Monero ,Polkadot, Cardano

XMR was seen swimming in troubled waters as the bears had fully taken over the XMR market. The short term price chart of the privacy coin was screaming bears as the Parabolic SAR indicator formed dotted lines above the candlesticks hindering the possibility of an upward breakout. The Relative Strength Index indicator was seen drowning in strong sellers’ sentiment.

Polkadot [DOT]

DOT retained its position in the top ten as its market cap was a little over $3 billion. The fairly new coin was seen on the greener side with its price at $4.05 with a 2.84% rise over the last 24-hours. DOT had also fallen prey to the bear invasion over the last seven days as the altcoin dipped by 5%.

Monero ,Polkadot, Cardano

A bearish notion was overhauling the entire crypto market. The DOT short term price chart accommodated the bears. The MACD line was seen lounging below the signal line following a formation of a bearish crossover. The Klinger Oscillator also acknowledged bears in the DOT market with a formation of a bearish crossover.

Cardano [ADA]

ADA was seen steering away from the bulls as it was getting cozy with the bears. The coin dropped down by 4.96% over the last seven days. However, the coin recorded a dainty dip over the last 24-hours. At the time of writing, ADA was trading at $0.092730.

Monero ,Polkadot, Cardano

The Chaikin Money Flow [CMF] indicator was taking the side of the bears as the CMF marker was reposing below zero. The Awesome Oscillator indicator also suggested the presence of bears after the formation of red closing bars.

Filed Under: Market Analysis, News Tagged With: Cardano (ADA), Monero (XMR), polkadot

Ethereum, Monero, Tron Technical Analysis On 4th November 2020

November 4, 2020 by Chayanika Deka

After a significant correction triggered by a spike in volatility, the global cryptocurrency market cap rose to $397.7 billion after a 2.47% increase over the last day. Several altcoins such as Ethereum [ETH], privacy coin Monero [XMR] as well as Tron [TRX] noted an uptick in their respective valuations.

Ethereum [ETH]:

ETH 1 e1604476268242

Over the last 24-hours, Ethereum [ETH] surged by 2.58% and pushing its price to $383.85 as it held a market cap of $43.4 billion and a 24-hour trading volume of $12.30 billion.

Several upward attempts by the bulls have been halted as minor rallies appeared to be triggered sell-offs. This was also evidenced by the red closing bars of Awesome Oscillator which suggested a bearish momentum in the coin’s price. Additionally, the Chaikin Money Flow also appeared to be struggling a little bit above the 50-median line depicting a considerable fall in the inflow of capital into the coin market.

The bearish pressure increases, Ethereum could retrace to its immediate support level of $339. However, if the bulls manage to make headway, it could potentially target its resistance level of $413.

Monero [XMR]:

XMR e1604476763875

Monero [XMR] rose by 1.41% over the last day which drove its price to$119.7. At the time of writing, XMR registered a market cap of $2.12 billion and a 24-hour trading volume of $1.53 billion.

After a stunning price rally, XMR lost significant momentum in its price. The MACD generated a weak sell signal as it formed a bearish crossover under zero. A move by the MACD into bearish territory can confirm that XMR was heading for another plunge. Further validating the bearish sentiment was the Klinger Oscillator whch also underwent a bearish crossover following the correction.

Monero has been continuously turned down from the $128 level of resistance and if the ongoing bearish trend gains traction, the privacy-focussed coin could further retrace to its previously established support area of $101.

Tron [TRX]:

TRX 1 e1604477304401

Tron [TRX] noted an uptick of 3.31% over the last 24-hours. TRX was valued at $0.024 while recording a market cap of $1.72 billion and a 24-hour trading volume of $885 million.

Tron has so far failed to materialize a rally in its favor. The dotted markers of Parabolic SAR aligned above the price candles continued to resist a potential upward breakout. The RSI has also hit the oversold region depicting a heightened bearish sentiment among the traders of the coin market.

If Tron bulls fail to defend the current level, it could attract a depreciation to the $0.020 level of support while $0.027 remained unbreached.

Filed Under: Altcoin News, News, Tron News Tagged With: Ethereum (ETH), Monero (XMR), TRON (TRX)

Polkadot, Monero, Tron Technical Analysis on 31st October 2020

October 31, 2020 by Sahana Kiran

The bulls had once again made an entry into the crypto market as it turned green at press time. The market cap was back in the $400 billion zone with a 3.76% rise after its latest slump. Bitcoin was seen heading towards $14K with a 4.59% surge in the last 24-hours. The king coin asserted its dominance over the market by 63.7%.

Polkadot [DOT]

Even though DOT has been slumping with respect to its market cap, the coin continued rising in terms of price change. During the time of writing, the altcoin was trading at $4.21 with a 4.50% increase in its price over the last 24-hours. DOT stood as the eighth largest coin with a market cap of $3.58 billion.

download

The bulls were bound to stay in the DOT market as key indicators used in the coin’s one hour price chart welcomed the bulls. The Parabolic SAR indicator hindered any possibility of a downward breakout as the dotted lines stood as a shield below the candlesticks. The Awesome Oscillator indicator formed green closing bars acknowledging the presence of bulls.

Monero [XMR]

The privacy coin XMR was seen returning to its habitat. The fourteenth largest coin was trading for $122.86 with a 2.30% rise in its price over the last 24-hours. The coin’s market cap was noted at $2.17 billion during the time of writing.

download 1

The bulls were raging in the XMR market as well. The Chaikin Money Flow [CMF] indicator proposed a bullish sentiment as the CMF marker was above zero. The Relative Strength Index [RSI] indicator exhibited a neutral notion as the RSI marker was exactly at 50 median, at press time.

Tron [TRX]

TRX was sending the bears out of its market as the altcoin was rising by 2.15%, at press time. The price of Justin Sun’s crypto asset was $0.0259 after witnessing a 2.56% dip over the last seven days. Additionally, the coin’s market cap was recorded at $1.86 billion, during the time of writing.

download 2 1

Justin Sun’s crypto asset was destined to accommodate the bulls. The MACD line took over the signal line earlier today and formed a bullish crossover. The Klinger Oscillator affirmed the presence of bulls as it developed a bullish crossover on its short term price chart.

Filed Under: Altcoin News, Market Analysis, News Tagged With: Monero (XMR), polkadot, TRON (TRX)

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