The past 14 days have been relatively bullish for Monero (XMR) with its value appreciating by 14%. The stormy crypto market does not appear to prevent the coin from appreciating in value again. Notably, on 15th September, Monero gained value by 8.88% rising to $121.35.
The Market Cap and Transaction Volume of XMR
XMR has a market cap of $1.9 billion with a single day transaction volume of $44.9 million.
HitBTC, a crypto exchange, is the major shareholder of Monero’s transaction volume with more than 26% of the business occurring on the platform.
The 24-hour transaction volume of HitBTC accumulated to an amazing $11.9 million.
Monero’s relentless bull run in last two weeks has transpired at a time XMRWallet, a site that offers open-source web services for a user’s Monero wallet, first declared the launch of a new website-based wallet for the privacy browser, Tor.
BitInforCharts highlighted that the XMR network’s hash rate improved by a large extent in the past twenty-one days as well.
The Satis Group’s Prediction
In a report released by Satis Group, an ICO advisory establishment comprising of a team of virtual properties consultants, the firm forecasted that XMR could see a huge demand from stakeholders with the value of the currency appreciating to about $18,000 in the next 5 years.
One Twitterati by the name ProofofResearch commented:
“No surprise that Monero $XMR is a winner the way that it is. Good technology that actually works is usually going to bring good things to fruition.”
Another one observed that: “Only DASH and XMR posted gains showing a trend reversal. Buy them on dips for faster returns.”
At the start of August, Monero reported that the Ledger Nano S Wallet could be employed with the latest version of Monerujo- version 1.6.3. Monerujo is an open source app, which enables users to control and use the Monero wallet.