Monero (XMR) Rapid Inscreasing Soft Landing

Since 2017, Crypto market has dramatically grown. Blockchain development teams have developed their platforms with most blockchains in the top 50 migrating to their own Mainnet including Tron (TRX), VeChain (VET) and other altcoins – even though there are price instabilities in cryptocurrencies.

During 2018, Monero (XMR) was at the forefront in this rising sector. Privacy coin based network has showed multiple growth since ATH placing it high on most analysts coin of 2018, in the fields of technology, togetherness and miners and price increasing.

However, Monero declined in March on account of downward trend. Some of the community members forked the Monero blockchain to five different coins referencing of ban of ASIC (application specific integrated miners). It had a goal of provide the profit stability for Monero since ASIC miners centralizes the power. The fork didn’t affect the main Monero chain, community members compromised on removing of ASIC miners and it was a step back in Monero’s decentralization.

Name Price24H (%)
Monero (XMR)
$54.10
3.30%

When fork was done the community became more stronger. Development team worked very well concerning partnerships and technological developments on XMR. Currently, Monero stated that it will use BTCPayServer to start making payments in order to lessen the transaction fees seen on the privacy platform.

The Monero platform and community faced some problems in September 2018. Platform name of XMR was seen in the news with crytopcurrency jacking and hacker attacks. Development team of Monero also was beset with a burning bug problem. The Monero community had done with these attackers and made a public statement denouncing. Malware response team was created in order to prevent hackers and any bug problem in networks.

Yet, during September the price of Monero (XMR) was trading in range just like other cryptocurrencies. Yesterday, it started the day in range with medium-term support levels at $166.50, $168.50 and $170.50 and medium-term resistances at $124.50, $122.50 and $126.50. There was a spike in price and it was between $111.50 and $117.50. Also there was a spike this morning that pushed the price further into the upper part of the range. It even got to the 50-day simple moving average.

Until XMR fell below the middle part of the Bollinger Band sellers pulled the price south shortly. Bearish takeover possibility is still high.

Who is the Monero Malware Workgroup?

“The Monero Malware Workgroup is a self-organized set of volunteers that maintains these resources and provides live support.”

Monero announced on their blog last week the launch of the Monero Malware Response Workgroup Website. It aims to reduce the unauthorized mining of Monero on users computers.

Monero Malware Workgroup is happy with the increase increasing mining rates but Workgroup also states the need for the restriction of unauthorized mining of XMR with these words:

”We created a set of resources that explain the basics of Monero and mining. We also have resources explaining and helping stop/remove unwanted in-browser mining, system mining, and ransomware. The website is purposefully approachable to absolute newcomers so that anyone can understand, though it offers actionable information that novices and experts alike can follow. It’s our mission to resolve an unfortunate situation as well as possible.” – Monero blog on its launch of the Monero Malware Response Workgroup Website.

Monero was highly benefited from the drop of its largest competitor, Verge (XVG) first quarter of the previous year after Pornhub partnership it went bizarre. But with the XVG resurgence in last days and a serious threat from ZCash (ZEC), Monero (XMR) will hope to improve price wise in last months of 2018 it remain top in its category.

After all rise and fall struggle, Monero recently lost 1.38% of its trade. XMR’s total trade is $114.25. It means XMR is down by a 0.62% fall against Bitcoin and 1.17% against the USD. In the upcoming days we can see more clear the 2018’s final prices of Monero.

 

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