Monero's peak value

[m2017]

Take a look at this chart. XMR updated its historical ATH and surpassed the $700 mark.

I wonder when the crypto market will start selling 1 Monero for $1000? What is meant is an approximate date.

Source: https://coinmarketcap.com/currencies/monero/

Seeing XMR's rapid growth over the past week, I have a question. What's the reason for this almost x1.5increase? Is this a XMR-bubble (current crypto market can hardly be called bullish, despite some temporary "recovery") or is there strong demand for privacy coins? It's been suggested that this is due to increasing government scrutiny of crypto transactions, and users are opting to preserve their privacy this way.

What is your opinion about the increase in price of monero?

Why are people buying this asset while the "entire" world is preparing to crack down on privacy coins and delist them from exchanges (because of all that money laundering nonsense and other "holy" justifications for banning something that governments can't track and control)?

[mu_enrico]

It's not just Monero, but popular privacy coins like Zcash*, Dash, SCRT, etc are also pumping.
Zcash already dumped, but it all began with Zcash.
So the question is, why do privacy coins pump? Well, perhaps because of countries pushing KYC/AML aggressively, and people don't want to stay visible, or perhaps it's just market seasonality.

[OmegaStarScream]

Why are people buying this asset while the "entire" world is preparing to crack down on privacy coins and delist them from exchanges (because of all that money laundering nonsense and other "holy" justifications for banning something that governments can't track and control)?

The world is not preparing. It already finished doing that. If you google you can see many exchange have delisted MONERO the past a few months. Many refuse to touch it to this day: https://coinmarketcap.com/currencies/monero/#Markets

Which makes the current price increase even more impressive.

[ultrloa]

Why are people buying this asset while the "entire" world is preparing to crack down on privacy coins and delist them from exchanges (because of all that money laundering nonsense and other "holy" justifications for banning something that governments can't track and control)?

The world is not preparing. It already finished doing that. If you google you can see many exchange have delisted MONERO the past a few months. Many refuse to touch it to this day: https://coinmarketcap.com/currencies/monero/#Markets

Which makes the current price increase even more impressive.

Even if many exchange delist this coin it still manage to pump just like what we have seen unto it these days.

This situation happened on Monero shows that the demand for privacy coin still big or strong despite on those limited access due to delisting happens and also even this coin has been pressured by regulation happened.

Great sign that even with those challenges the community still believes on privacy coin like Monero.

[Yamane_Keto]

It's not just Monero, but popular privacy coins like Zcash*, Dash, SCRT, etc are also pumping.
Zcash already dumped, but it all began with Zcash.
So the question is, why do privacy coins pump? Well, perhaps because of countries pushing KYC/AML aggressively, and people don't want to stay visible, or perhaps it's just market seasonality.

Monero is what could be called a privacy currency. Zcash* and Dash also promote themselves as privacy currencies, but transactions using them are easy to trace.

If the question is why Monero is gaining up, it's several months behind. Bitcoin broke its all-time high months ago.
Why now? It might be due to Full-Chain Membership Proofs (FCMP++).

[Orpichukwu]

The world is not preparing. It already finished doing that. If you google you can see many exchange have delisted MONERO the past a few months. Many refuse to touch it to this day: https://coinmarketcap.com/currencies/monero/#Markets

Which makes the current price increase even more impressive.

Even some of the exchanges which have refused to delist XMR have now enforced a full KYC before trading it on their exchange.

Before, I was using XT exchanges without passing KYC on the exchange, and I traded and withdrew any asset without them forcing me to pass KYC until sometime last year, in December or late November, when I was forced to pass KYC before I could convert XMR to other crypto, but other coins could be traded without any issue. The good thing was I was allowed to withdraw it since I refused to verify KYC on the exchange.

[passwordnow]

What is your opinion about the increase in price of monero?

It is long overdue but it's good to see that monero has been pumping and it might be telling us one thing that bull run's not yet done.

Why are people buying this asset while the "entire" world is preparing to crack down on privacy coins and delist them from exchanges (because of all that money laundering nonsense and other "holy" justifications for banning something that governments can't track and control)?

I think that due to the fiat's potential collapse, people just want to keep themselves private. Not unless, this push was done by the considerably huge whales that have transferred hundreds of millions.

[Josefjix]

Delisting Monero from many bigger cex hasn't done anything wrong with the price, instead, it keeps skyrocketing till this day. I am really surprised about this price reaching new ATH, it's amazing and I'm wondering too the major push behind xmr.
What if XMR was available on major popular exchange, could you imagine to have reached $1500 per one? This questions just runs through my brain just now.

[TastyChillySauce00]

Delisting already happened and actually XMR is only available on very few CEX, not even binance, coinbase, or other tier 1 exchange listed it.

The most volume comes from kucoin as well which isn't really the best exchange out there speaking about rank released by coinmarketcap.
Basically your worry already happened yet the market still reacts positively. Just see the market list below, most of top tier exchange don't list XMR at all.

[bated]

What is your opinion about the increase in price of monero?

Privacy concerns raised by CEO of Coinbase ... and now we know why Monero is pumping!

I reckon it is going to plummet today after successful push back on the US crypto act as the privacy concerns subside.

[el kaka22]

Monero had a break out week there is no doubt about that, it is getting close to 100%, along with DASH, it is one of the highest increasing ones this week. And yet, that still doesn't change the fact that it's a niche project that not many people will use. I get that privacy matters to some, but this is a world that shares their most intimate moments, we share all our info online by our choice and call it social media.

It means Monero will not be adopted by that many people, and will keep being low rank. It means, I suspect about the continuous growth of any privacy oriented coins so investing right now into any of them would be risky as these privacy coins are not part of many crypto people's portfolio.

[epomis]

It's not just Monero, but popular privacy coins like Zcash*, Dash, SCRT, etc are also pumping.
Zcash already dumped, but it all began with Zcash.
So the question is, why do privacy coins pump? Well, perhaps because of countries pushing KYC/AML aggressively, and people don't want to stay visible, or perhaps it's just market seasonality.

Monero is what could be called a privacy currency. Zcash* and Dash also promote themselves as privacy currencies, but transactions using them are easy to trace.

If the question is why Monero is gaining up, it's several months behind. Bitcoin broke its all-time high months ago.
Why now? It might be due to Full-Chain Membership Proofs (FCMP++).

Could you please elaborate on how shielded Zcash transactions are easy to trace?

As a lot of misinformation is spread about it, maybe someone is interested in reading a very good and comprehensive guide on Zcash: https://maxdesalle.com/mastering-zcash/

And about Monero. The rise is impressive, but I doubt it's permanent. Probably a mixture of ECC drama, Venezuela wealth hiding, Iran's currency collapse etc. Monero attracting users who identify with its reputation.

[fullfitlarry]

It's not just Monero, but popular privacy coins like Zcash*, Dash, SCRT, etc are also pumping.
Zcash already dumped, but it all began with Zcash.
So the question is, why do privacy coins pump? Well, perhaps because of countries pushing KYC/AML aggressively, and people don't want to stay visible, or perhaps it's just market seasonality.

Yeah, perhaps there are investors who wants to go back to the roots itself, go with Privacy coins even if there are a lot of governments are pressuring exchange to remove them or delist.

I guess it's just about time that Privacy coin should be given more importance. And only those who have understand that every crypto enthusiast now are being unmasked because of KYC/AML

Still good though, at least Privacy coins get the chance to be in the limelight as there are no altcoin season, or it is not what we expect it to be in this bull run.

[Alpen]

Seeing XMR's rapid growth over the past week, I have a question. What's the reason for this almost x1.5increase? Is this a XMR-bubble (current crypto market can hardly be called bullish, despite some temporary "recovery") or is there strong demand for privacy coins? It's been suggested that this is due to increasing government scrutiny of crypto transactions, and users are opting to preserve their privacy this way.

What is your opinion about the increase in price of monero?

Why are people buying this asset while the "entire" world is preparing to crack down on privacy coins and delist them from exchanges (because of all that money laundering nonsense and other "holy" justifications for banning something that governments can't track and control)?
[/quote]

Monero’s recent surge is driven by the ZCash scandal, where their entire dev team reportedly jumped ship to start a new project. This leaves XMR as essentially the only major privacy coin with a long-standing, stable team, which has significantly boosted investor confidence.

It’s hard to say exactly when XMR will hit $1,000, but the charts show a clear shift from a steady trend to full "to the moon" mode. It's now a toss-up: either we hit $1,000 soon, or we see a major correction back to the $500 level. The current rally was so aggressive that it didn’t leave any solid support levels on the way up.



Regarding its upside potential—historically, Monero has reached the #5 spot in market cap rankings, and I expect arbitrageurs to push it back toward that level. Right now, that spot is held by XRP, which has a market cap 8 times larger than Monero's. This means our top privacy coin still has the potential for an 8x gain.

[Hispo]

It was kind of expected to see the price of Monero skyrocketing like this, I think. He had started to show some parabolic pattern since many months ago and there have been a very steady demand for privacy coins, even DASH increased in value.

Since it has been proven that there is still enough liquidity for Monero to survive without support of biggest exchanges on this ecosystem, there is a bright future for Monero in the long term. Not sure if I can say the same about DASH and zCash, though.