Hackers Cause Monero and Other Anonymous Tokens to Rise
Monero token (XMRUSD) initially soared by nearly 70% in Asian hours today, later keeping about 17% surplus by mid-day. ZachXBT, a well-known crypto community's detective who used to uncover scam schemes in this market, wrote on his X account that a suspicious transfer was made from a potential victim for 3,520 BTC ($330.7 million), and shortly after "the funds began to be laundered via instant exchanges and was swapped for XMR" causing the XMR price to spike. It is possible that hackers also convert some stolen bitcoins into other types of anonymity-protected coins, such as Zcash (ZEC, initially added +24% early in the morning) and DASH/USD (+12% at the moment). The listed three tokens, but I feel especially Monero as based on its previous rather successful price history, may still be of great interest at current prices in terms of potential for more spikes after the current intraday rollbacks that already took place.
I already warned you about my purchase of Ripple (XRPUSD) when it was worth below $1.85, as well as about reputable forecasts of 550% growth in this crypto asset, and now the price of Ripple exceeds $2.30. Now it's time to buy Monero, not to mention replenish one's Bitcoin reserves if you didn't do it before.
Bloomberg today quotes Coinshares as saying that crypto inflows have surged by $3.4 billion over the past week. Bitcoin's surge above $95,000 appears to help other tokens' rally, while Tether has reportedly issued 1 billion new USDT, believing that this crypto-emission analogue will soon come in handy. Crypto liquidity is growing in waves, with fresh capital flows entering the market. Some ETFs are hinting at the possibility of charging interest on "crypto deposits," whatever that ultimately means. After a couple of months of pullbacks and stagnation, there is now a clear upward trend and early signs of a more aggressive transition from fiat cash to crypto sets. I have no doubt that Bitcoin will break through $100,000 again, while some (but certainly not all) tokens will outperform Bitcoin in percentage terms by an order of magnitude.
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