As the giant digital currencies like BTC and ETH are constantly gaining more acceptance, other altcoins are also following the path. Being ranked among the top 20 global virtual currencies, Monero (XMR) is now enticing investors. But, what makes XMR striking for investors?
The primary strongholds of XMR are exceptional privacy and transparency. The developers who invented XMR strived to create a fully decentralized and private cryptocurrency. Thus, XMR presents five key advantages that are lacking in other altcoins:
- 100% privacy. It is only the user who can regulate their XMR balance and check the details of operations.
- Good fungibility. This implies that XMR can be traded for goods and other properties.
- Extensive scalability. While BTC has placed a 1 Mb block size restriction on traders and investors, XMR has no pre-set size restrictions. It has only minimized the size of reward based on the block size.
- Its good resistance to ASIC (Application Specific Integrated Circuit).
- It applies various private and public keys to achieve tight security.
Technical Evaluation of XMR
The technical assessment takes into consideration two factors to forecast the future of cryptocurrencies: the historical value trends and the transaction volume trends. This activity is carried out by a software that uses complex mathematical formulas to the historical information.
One of the famous technical analysis companies, Walletinvestor.com, has projected XMR to be valued at $638.73 in a single year. It projects a profit of about 184%.
XMR Price Forecast Based on Technology and Market Trends
Profitconfidential.com is a platform which generates price forecasts for different digital currencies based on aspects like the cryptocurrency’s technology, present, and former market trends.
Profitconfidential.com has forecasted the value of XMR to range from $350 to $400 by the end of 2018.
Reflecting on the past two to three years, I can say that the crypto market has been quite unpredictable. Basically, the digital currencies possessing the best technology and the best minds are the one that gains more. This can be seen with coins like ETH, LTC, and XRP. Considering the five strongholds of XMR that we discussed above, XMR will hit its projected value of $400 by the end of 2018.