Privacy-focused Monero cryptocurrency (XMR) continues today’s price hike, stemming from the launch of atomic swaps last week.
At the time of writing, monero was trading at $ 328, up nearly 16% in the last 24 hours, according to crypto metric platform CoinGecko.
In particular, Monero’s price has risen decidedly since August 17, when Monero’s developers announced that atomic swaps between bitcoins are now available on the main network.
BTC’s atomic swaps are available in real time on the mainnet network! We are pleased to see Seth and others working to make them easily accessible so that everyone can trade privately and privately!”developers wrote on Twitter.
BTC’s atomic swaps are available in real time on the mainnet network! We are pleased to see Seth and others working to make them easily accessible so that everyone can trade privately and privately! # monero # xmr https://t.co/uRm7UCCHox
– Monero / / # xmr (@monero) August 17, 2021
Atomic swaps allow cryptocurrency holders to exchange their coins decoupled between various blockchains directly through smart contracts. One of the key advantages of atomic swaps is that they do not build trust and do not require the participation of third parties, such as exchanges or brokers.
In Monero’s case, this means users can now swap their BTC for xmr-and vice versa-without the middleman. Not surprisingly, last week’s update had a positive impact on Monero’s price.
XMR fundamentals also support further currency growth.
First, data from Messari’s analytics platform shows a notable increase in XMR transactions over the past month, pointing to increased user demand.
Daily transactions in Monero. Picture: Messari
June Dec July, for example, saw XMR transactions ranging from about 14,000 to 20,000 per day. However, in August, the number of daily transactions in various cases exceeded 30,000.
At the same time, volatility in XMR prices is slowly easing. Monero’s volatility fluctuates around 0.67 during the press-well off the 2.4 level this June.
Monero’s Volatility
