Monero is currently the highest performing cryptocurrency among the top 100 coins by market cap over the past 24 hours.
On August 2, Monero (XMR) surged above $164, posting an intraday gain of around 5%, while most crypto markets struggled and Wall Street traded in deep red.
Monero, a privacy coin, has faced challenges in recent months, mainly due to several exchanges delisting its native token amid growing regulatory scrutiny. Despite this, XMR remains one of the top 100 coins by market cap, currently ranked 27th with a market cap of $2.9 billion.
XMR price rose to $175 in July
Monero’s price rose to $175 on July 26 before falling over the next few days as weakness across cryptocurrencies threatened the rally. On August 1, as Bitcoin collapsed to nearly $62,000, XMR hit its lowest price level since July 8 when it reached lows of $150.
XMR traded at an all-time high of over $542 in 2018.
While XMR is trading below the $180 high reached in mid-June, the gains above $160 on August 2 came amid positive news for the privacy coin.
Earlier this week, the Monero team announced that they were working with Cake Wallet, a non-custodial company for Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), to bring Monero to the Keystone Hardware Wallet.
Keystone, a company that offers an open-source hardware cold wallet, has confirmed the collaboration.
The news of XMR’s delisting from the exchange has been met with positive community reception for the latest developments. Keystone has announced its plans to become the first hardware wallet to support the native Monero Mnemonic Seed, further boosting community confidence.
Monroe also recently Spotlight Adoption case where a grocery store in New York now accepts XMR as a form of payment from customers.
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