Monero (XMR) Jumps 6% On New Exchange Listing Hopes

Cryptocurrency

Back in 2017 when the crypto sphere was in the middle of one of the biggest bull runs ever seen, Monero (XMR) had emerged as one of the more interesting coins, and the price surged significantly at the time.

However, over time, the coin lost its shine somewhat as more and more exchanges got suspicious about the fact that the coin was anonymous in nature. Eventually, the coin was delisted from many exchanges, most of which were in Japan, one of the most advanced cryptocurrency ecosystems in the world, and the price of Monero started dropping.

Rumors of New Listing

Although it is true that anonymity is one of the aspects of cryptocurrencies, the problem with Monero was that its anonymity was so stringent that there was the possibility that a user might not be able to see it in their wallet if they bought it, and that prompted many exchanges to delist the coin.

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However, things are now looking up for Monero as rumors started circulating that the coin was going to be listed again on many exchanges, and the price of the cryptocurrency has started climbing again as a result. As a matter of fact, the price reached the crucial three digit mark after the news of new listings started circulating, and it goes without saying that Monero is a coin to be tracked over the next few weeks. XMR has a market capitalization of $1.73 billion.

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The price action on the coin has been impressive, with Monero surging to $108 on Sunday, and on Monday, the price settled at $103.88, which reflected a 24-hour price surge of over 6%. This past week, there was a massive sell-off in Monero, and that beat the price down to around $100.

The price hovered around that mark for quite some time as uncertainty stopped traders and investors from touching Monero. However, the news about potential listings on more exchanges has naturally started a new upsurge.

Are you excited to be hearing that XMR may be receiving more listings soon?

Featured image: Pixabay

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