Monero Chan

The Monero team has started to implement the privacy technology, known as Full-chain membership proof. The technology will be integrated into Monero in the coming weeks.

The update was first proposed in March, as a response to spam attacks that aimed to uncover some of the participating addresses. 

In general, the origin of XMR has to be uncovered for centralized exchange swapping. Some protocols require a loss of privacy when selling XMR for fiat, as a way to satisfy exchange KYC requirements.

The popularity of XMR also rose after the recent arrest of Pavel Durov, co-founder of Telegram. The need for privacy is still one of the main goals for part of the crypto community, despite calls to de-anonymize some assets for legal purposes. 

Monero users can also choose to reveal their identities, using the coin for payments even on social media handles. XMR has been used as a tipping coin between accounts on X.

The Monero community pointed out the recent spike in searches is an accidental word-of-mouth event. The searches may be related to an online quiz question on Monero. However, in August, an even bigger search spike was seen for “XMR”, suggesting interest in the crypto coin itself. This uptick is also reflected in recent trading activity.

Monero still upgrades its protocol through hard forks, where all nodes need to run a new version. The Monero network has grown to 4,600 active nodes worldwide, with up to 13,000 nodes online during busier days. 

Monero users have complained that the coin is harder to adopt in comparison to modern tokens. Monero wallets still need synchronization to display balances, sometimes requiring hours of activity. Additionally, buying XMR is not straightforward for new users.

Monero’s fame seems to be growing. Perhaps, it has an opportunity to become the top privacy coin in an eventual bull market. XMR is gaining attention, despite the competition from older assets like ZCash (ZEC) or newly launched privacy coins Xelis (XEL) and DERO.

XMR has legacy status and may re-spark interest faster due to better available liquidity. XMR trading still sees $65B in daily volumes, with 82% against Tether (USDT). XMR also has a direct market against the USD, making up 8% of all activity. 

Chart analysts see XMR as potentially breaking out, despite the overall subdued sentiment on the rest of the market. XMR extended its recent gains, while its main competitor, ZCash (ZEC) slid from $40 to $30 within days. 

XMR has been drifting sideways for months, once again setting expectations for a breakout to a higher price range. The inflow of USDT may help XMR if market sentiment shifts and funds flow to new types of assets, returning to the stars from previous bull markets.

The cryptocurrency market continues to display uncertain price movements, indicating a mixed sentiment. Moreover, the market leader, Bitcoin price has failed to hold its value above the $60,000 mark. Following this, top altcoins have recorded a similar price action by breaking their important support levels.

On the other hand, the Monero price has recorded a variation of less than 1% in both short and large time frames. Notably, it has recorded a Year-to-Date (YTD) return of -0.98%. This highlights a rising disinterest of investors in it.

With a potential altcoin season around the corner, will the Monero (XMR) crypto token make a comeback by reclaiming the $200 mark?

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After displaying a sideways action for the first 3 weeks of August, the Monero price regained momentum and jumped 22.96% within 8 days. Following this, the bulls failed to hold the momentum, resulting in a price plunge. However, the price experienced a bullish reversal above the $150 mark.

Since then, this altcoin has added 6.48% in valuation. Presently, the altcoin is hovering above its important trendline of $162.50. This indicates a rising bullish sentiment for it in the crypto space.

The EMA 200-day has constantly acted as a support to the Monero price chart. Moreover, the 50-day trendline records a rising pattern. This indicates an increase in the buying-over-selling pressure for this crypto token in the market.

The Relative Strength Index (RSI) has successfully retested its mid-point in the 1D time frame. Further, the average trendline is on the verge of recording a bullish convergence. This indicates a positive outlook for the altcoin in the coming time.

If the market holds the price of XMR above its support level of $162.5, the Monero price will prepare to test its resistance level of $181. Further, if the bulls continue to dominate the market, the altcoin will head toward its upper high of $200.

On the flip side, if the bulls fail to hold value, the altcoin will plunge below its support trendline of $162.50. In this case, the XMR price will retest its crucial support level of $144.25 during the upcoming weeks.

Monero, one of the world’s most valuable privacy-focused networks, is under immense selling pressure. XMR, its native currency, is down 11% from this week’s highs, extending losses from June 2024.

Overall, XMR remains in a bullish formation, shaking off weakness from Q1 2024, when the coin fell due to compliance reasons. Several exchanges, including Binance, chose to delist Monero and other privacy coins, citing the need to adhere to laid-out laws, mainly in the United States.

Boosting Privacy Features On Monero Through FCMP++

Despite the recent sell-off, the Monero community remains upbeat. On August 20, Monero developers said a pull request was made to integrate Full-Chain Membership Proofs (FCMP++). The feature further enhances Monero’s privacy, making it attractive for users who wish to conceal their on-chain transactions.

Before this update, Monero relied on Ring signatures to hide the sender’s identity. To do this, Monero obfuscates each transaction so that it appears to be sent from a group of potential senders. Unlike Bitcoin, where a sender can easily be picked out through Ring signatures, this makes it rough for third parties to determine the actual sender.

The integration of FCMP++ on the mainnet takes this a level higher, enhancing transaction privacy. Technical data shows that through this integration, proving the output spent in a transaction, and thus, the sender, will be even more challenging.

If anything, developers claim FCMP++ boosts the current anonymity set from 16 to 100 million. Therefore, third parties, including analytics platforms like Chainalysis, would find it hard to trace XMR transactions, translating to a higher level of confidentiality for users who treasure privacy.

XMR Remains Resilient Despite Challenges

Even so, the FCMP++ integration is a work in progress. With the pull request, the relevant code must undergo a rigorous review and further improvement.

The goal is to ensure there are no code flaws. However, once it is finalized, the feature will set a new standard for privacy, further cementing Monero as a leader in the scene.

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The exact timeframe for a complete merger on-chain remains to be seen. However, what’s evident is that XMR bulls are resilient despite the drop in liquidity following the delisting. That Monero developers didn’t yield to exchanges’ pressure to comply means the mission remains. As such, enthusiasts will continue using the network.

MATIC seems to be catching a second wind, recovering from a recent low of $0.3920. With its price now hovering above $0.4120, all eyes are on its next challenge: the resistance levels at $0.4220 and $0.4250.

Should MATIC break these barriers, it could ascend towards $0.4450 or beyond. Yet, if momentum falters, a retreat to around $0.4120 or lower might be in the cards. The forthcoming moves will critically determine MATIC’s trajectory.

Monero, once a luminary in the crypto cosmos during 2018 and 2021, now finds itself in a dimmer light. Regulatory scrutiny over its privacy features has led to significant setbacks, including delistings from major exchanges.

Currently languishing around $150 and down by about 6% annually, it seems Monero’s golden era may have waned.

BlockDAG’s recent team video, detailing $68 million in presale achievements, has captured the global crypto community’s attention, amassing over 120,000 holders worldwide. In the video, CEO Anthony Turner discusses strategic expansions into London and Switzerland—not just as operational bases but as strategic moves to amplify BlockDAG’s global presence and forge robust partnerships.

Turner also sheds light on BlockDAG’s innovative hybrid technology, melding Bitcoin’s security with the swiftness of DAG and the adaptability of Ethereum. Such advancements position BlockDAG as a formidable contender against established players like Ethereum and Solana, with aspirations to dominate as a top Layer 1 blockchain within three years.

With its strategic expansions and vibrant community engagement, BlockDAG is setting the stage for significant market impact. Currently priced at $0.0178 in its 22nd presale batch, the BDAG coin’s trajectory towards a $1 valuation suggests a potential ROI of over 5500% by 2025.

While MATIC’s market posture could signal an upcoming rally, it remains shadowed by potential declines. Monero’s better days seem to be receding, compounded by its exclusion from key trading platforms. In contrast, BlockDAG’s robust presale performance and captivating team insights have solidified its position as a serious contender amidst the market’s turbulence. With nearly all tokens claimed in batch 22, the enthusiasm around BDAG’s prospective $1 valuation hints at an extraordinary return opportunity for early backers.

Privacy is becoming a major focus, and you’re probably noticing the buzz around Rollblock, Monero (XMR), and Zcash (ZEC). Let’s dive into why. Rollblock, the No KYC Casino making waves in online gambling, is currently in its 5th presale stage. It’s trading at $0.021 and has already raised over $2.5 million.

With predictions of a 100x increase in 2024, it’s grabbing attention. This article will explore why Rollblock’s unique no-KYC approach, alongside the growing interest in privacy-centric coins like Monero and Zcash, is shaking up the crypto scene.

Alright, let’s dissect the wild journey that Monero (XMR) has been on this month. Think of Monero as that erratic buddy who shows up when you need them most. Initially, it scared us all a little bit when it dropped below $150. However, it resisted like a real underdog and increased its value until it reached about $170. 

There are peaks, valleys, and some anxious intervals on the graph, which resembles a heart monitor. Guess what, though? A respectable 3.38% gain was still achieved by Monero. Thus, it’s similar to your favorite Avengers hero: a little wounded, but in the end, triumphant!

Zcash (ZEC) has jumped 51.15% recently from a low of $29 in early August to an intraday high of $44 seven days later. This rally is largely fueled by a push for a hybrid proof-of-stake (PoS) upgrade by Zcash founder, Zooko Wilcox, upon joining Shielded Labs. In a blog post on Aug. 10, Wilcox said that after eight years of using proof-of-work (PoW) mining, the privacy currency needs to move to a proof-of-work and proof-of-stake protocol. 

A hybrid model aims to solve problems brought on by the PoW mechanism. It opens up staking opportunities for ZEC holders and further reduces the circulating supply, stabilizing its value and positively impacting ZEC price.

A person’s right to privacy is paramount when engaged in online gambling. In this regard, Rollblock stands out as one of the first No KYC Casinos on the planet, providing a community-supported, player-centric experience. 

Envision a world where your tokens can do more than simply sit in a wallet; they can generate income. That is exactly what you can accomplish using Rollblock’s groundbreaking Revenue Share concept, which gives token holders a portion of the casino’s earnings. In addition, as a member of the Rollblock family, you are eligible for unique incentives, cashback awards, and staking prizes. 

It goes on from there as you can maximize your time on Rollblock with the Help To Earn and Play To Earn programs. It’s a No KYC Casino where your privacy is protected, and your earnings are maximized. You can be certain that your investment will remain stable in the face of inflation thanks to the finite amount of $RBLK tokens. 

After seeing how important privacy is in the online gambling sector with Monero (XMR) and Zcash (ZEC), Rollblock is at the forefront of this movement by offering users protection, transparency, and, of course, enormous profit possibilities.

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Anne-Elisabeth has still not been found and the Norwegian police inspector in charge of the case this week spoke to Norwegian tabloid VG in an attempt to flush out new evidence and crack the case. Inspector Gjermund Hanssen revealed for the first time new details of the exact steps the person or persons behind the plot took to arrange the cryptocurrency ransom and communicate with police.

New details include:

the kidnapper or kidnappers used bitcoin to communicate with police through coded messages;

a VPN was used to obscure whereabouts;

another cryptocurrency, dash, was used to obscure the money trail;

and the people or persons behind the plot used a stolen identity to set up accounts on cryptocurrency exchanges Binance, Huobi and KuCoin.

Authorities believe complex and advanced knowledge of cryptocurrency and related fields such as the dark web are key to the case, according to VG. They are hoping that publicising the details will allow outside experts to help them crack it.

"We are wondering who in 2018 had both these skills and the willingness to do this to Anne-Elisabeth Hagen," Hanssen told VG.

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In the weeks and months that followed, a trail of anonymous communication took place between people connected to the Pasted.co document and the police. Communications took place through anonymous web browsers such as Tor and over email.

In a final correspondence in July 2019, the kidnappers demanded a payment of part of the €9m monero ransom. With help from the police, Tom Hagen paid €1.35m. After that, the trail went cold and there was no further communication, according to local reports.

The Norwegian police declined to comment.

Anyone who has any information should contact the Norwegian police.

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In his analysis, Murad highlighted that the 2016-2017 bull cycle saw a test pump in 2016, a mega pump in mid-2017 and a mega pump in late 2017.

According to Murad, XMR is now ready for another bull cycle. His analysis posited that after two test pumps, the altcoin surged.

This trend was repeated in 2018 and 2021 when the altcoin hit $466. Therefore, if XMR repeated the same cycle, the altcoin will hit 176.07%.

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Over the last seven days, XMR has surged by 11.7%. Additionally, the altcoin’s trading volume soared by 30.08% to $77.3 million over the last 24 hours until press time.

In the same period, XMR’s market cap surged by 4.94% to hit $3.1 billion.

Looking at XMR’s Directional Movement Index (DMI), the altcoin’s uptrend was strong. At press time, the positive index at 31.24 sat above the negative index at 20.7.

This showed that the altcoin’s upward movement was well positioned, with the prices well suited for further increase.

Additionally, the MACD was positive above the signal line, which further supported the altcoin’s positive momentum. Thus, the uptrend will continue or strengthen.

Looking further, AMBCrypto’s analysis of Coinglass showed that long position liquidation has experienced a sustained decline.

Since the market crash on the 5th of August, when liquidations hit $ 57K, it has remained extremely low, reaching only $2.8K at press time. This shows confidence in the altcoin’s direction and prospects.

Finally, XMR has experienced mostly positive netflow for the last two weeks. This showed that investors were interested in holding the altcoin, which is a bullish sentiment.

Therefore, if the current market sentiment maintains, XMR will challenge the next significant resistance level around $175. A breakout from this resistance level will strengthen the altcoin to hit a year-high of $182.

The Monero team has announced the initiation of a new privacy feature integration, known as Full-Chain Membership Proofs (FCMP++). This feature aims to significantly enhance transaction security and privacy on the Monero network by proving that the output spent is one of any output on the chain. This effectively removes various risks and increases the anonymity set from 16 to 100,000,000. The integration is currently a work-in-progress, with ongoing reviews and improvements to ensure its robustness. This development marks a major step forward in Monero’s commitment to providing top-tier privacy for its users.

The crypto market continues to attract significant attention, witnessing an influx of investors. Bitcoin’s market capitalization has experienced a remarkable surge of 100% year-to-date, with the crypto itself steadily advancing, setting its sights on the next milestone of $58,000. While market analysts speculate on when BTC will breach this level and what its subsequent upside target might be, attention is also turning to particular altcoins displaying noteworthy performance.

Monero (XMR), despite a recent dip attributed to unsettling news about a security breach in the network’s community crowdfunding system (CCS) wallet, appears to be staging a revival. Litecoin (LTC) has also encountered challenges, including a notable decrease in wallet holders.

Nevertheless, there is a prevailing sense of optimism regarding a potential resurgence in Litecoin. The recent integration of LTCs by payment processor BitPay shows increasing commercial acceptance.

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In the most recent update, the price of Litecoin (LTC) is fluctuating within the range of $60 to $68. Notably, the coin has witnessed a 4.12% weekly upturn juxtaposed with a marginal 2.08% monthly decline.

Several oscillators maintain a neutral stance, exemplified by the Average Directional Index registering at 15.04 and the Awesome Oscillator at 1.71. Simultaneously, the Momentum indicator at 3.67 and the MACD Level at 0.77 advocate a Buy sentiment.

Analyzing the moving averages reinforces a positive outlook. Short-term bullish momentum is substantiated by the 10-day EMA at 70.12 and the 10-day SMA at 71.80. This bullish sentiment extends to the longer term, contingent upon the price remaining above the 100-day EMA at 70.75 and the 100-day SMA at 67.04. This analysis underscores a favorable market sentiment for Litecoin.

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In the latest update from Trading View, Monero (XMR) is experiencing price fluctuations within the range of $150.06 and $176.07. Over the past week, there has been a commendable 4.6% increase, with a modest monthly gain of 5.13%.

A comprehensive technical analysis reveals a nuanced scenario. Most oscillators maintain a neutral stance, exemplified by the RSI registering at 57.70 and the Stochastic %K at 81.20. The Momentum indicator leans bullish at 0.32. Simultaneously, the MACD Level at 0.60 and the Bull Bear Power at 0.72 suggest a favorable environment for buy actions.

Short-term indicators signal a buy recommendation with the 10-day Exponential Moving Average at 173.70 and the 10-day Simple Moving Average at 153.95. The longer-term momentum also supports a bullish outlook, with the 100-SMA and 100-day EMA at 151.70 and 153.46, respectively.

While Monero and Litecoin show potential in their respective niches, projects like Pawfury offer a glimpse of the innovative potential within the crypto space. By applying expert strategies and considering emerging presales, investors may find opportunities even in the most challenging market conditions.

It’s important to note that while Pawfury stands out among these options with its lucrative presale, low entry cost, and 10% extra bonus, investors should always conduct their own research and due diligence.

XMR rose to $175 in July
Monero’s price rose to $175 on July 26 before dipping over the next few days as weakness across crypto threatened bulls. On Aug. 1, as Bitcoin crashed to near $62k, XMR reached its lowest price level since July 8 by hitting lows of $150.

XMR traded at its all-time high above $542 in 2018.  

While XMR trades below the highs of $180 reached in mid-June, the gains to above $160 on Aug. 2 came amid positive news for the privacy coin.

Earlier in the week, the Monero team announced that they were working with Cake Wallet, a non-custodial for Bitcoin Bitcoin
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The news of exchange delistings impacting XMR has been countered by the community’s positive reception of the latest developments. Keystone announced plans to become the first hardware wallet to support native Monero Mnemonic Seed, further solidifying community confidence.

Monero also recently highlighted an adoption case where a grocery store in New York now accepts XMR as payment from customers.