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Monero (XMR) the king of privacy coins has experienced a bearish period for the past 2 months as the price hovered within the ranges of $47-$48. However, the decentralized crypto platform has continued to show signs that it can recover fully from its latest slump.
Monero has one of the most loyal crypto userbase and is popular due to its secure private transactions. It is widely regarded as the safest coin in-terms of transaction privacy and has made moves towards expanding its repertoire.
Monero (XMR) Expected To Surpass The $100 Mark By The End Of The Year
A year ago the coin was trading at $494 at the height of the cryptocurrency boom but quickly depreciated as a result of the crypto carnage. There are expectations from different crypto analysts that XMR could attain such heights if the year 2019 returns the bullish moment.
The coin is expected to increase in value in the summer and could attain a value of around $638 according to Walletinvestors. Other crypto analysts envisage that the coin could end the year within the ranges of $300-$350.
This would result in nearly 10x the current value of the coin if the coin can attain this trend. Monero (XMR) has laid down some markers which can influence a sudden spike in value.
Monero (XMR) Has Made Major Efforts To Increase Its Userbase
XMR major strength is Security and Anonymity, Monero (XMR) excels in this area with transactions virtually impossible to track and is promising from the privacy viewpoint. There has been a noticeable trend towards anonymous transactions and Monero has a clear advantage in this field.
Monero (XMR) has also been able to attract top entertainers towards its course which has led to the popularity of the coin. A-list artiste like Sia and F-Eazy are offering fans the option of purchasing their albums and records using XMR.
Over 35 artiste have joined the project in adopting the coin as a major payment means, with some offering as much as a 20% discount for purchases using the coin.
Monero (XMR) Ready To Implement Its Latest Fork Update
Monero (XMR) has also worked on improving its technology with several updates and developments earmarked at various points of the year. It recently announced that a hard fork will be scheduled in March.
This latest update is expected to bring about, new notifications, and the new mining algorithm and improvements on default payment IDs.
Monero (XMR) Hodlers can rest assured that the 13th largest Cryptocurrency based on Marketcap is on the right path towards surpassing the $100 mark in 2019.