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What Is Monero (XMR) Network?

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What Is Monero (XMR)?

Monero (XMR) is one of the leading cryptocurrencies focused on privacy, zero knowledge, and censorship-resistant transactions.  The Monero network operates on a proof-of-work (PoW) consensus mechanism, like Bitcoin and various other cryptocurrencies. This system incentivizes miners to contribute blocks to the blockchain. Monero’s PoW algorithm is designed to resist specialized mining equipment known as application-specific integrated circuits (ASICs). These ASICs confer a significant advantage to companies and affluent individuals, potentially leading to the centralization of the network.

In 2018, Monero became the first major cryptocurrency to deploy what is known as “bulletproofs”, a technology that greatly improved the efficiency of XMR transactions and led to at least an 80% drop in the size of the average transaction and dramatically reduced fees for the end-user.

Monero underwent an upgrade in 2019, transitioning to the RandomX algorithm. This algorithm is tailored to accommodate both CPU miners (such as laptops) and GPU miners (utilizing standalone graphics cards). Theoretically, this adjustment should foster greater decentralization within the Monero network.

Monero network

Who Are The Founders Of Monero (XMR)Network?

Monero (formerly known as Bitmonero) traces its roots back to 2014, when it forked from the Bytecoin blockchain. Its development has been steered by a vibrant community of developers, including Ricardo Spagni (aka Fluffypony), who played a pivotal role in shaping Monero’s trajectory. The commitment to open-source principles and community-driven governance underscores Monero’s success. 

Since its launch, Monero has undergone significant enhancements, including database structure migration, implementation of RingCT for transaction amount privacy, and setting minimum ring signature sizes to ensure all transactions are private by default. These improvements have bolstered the network’s security, privacy, and usability.

The Monero Project leads the charge with its dedicated Research Lab and Development Team, continuously pioneering innovative technologies. Since its launch, the project has garnered contributions from a diverse pool of over 500 developers spanning various continents.

Monero founders

Investors And Institutions Backing the Monero (XMR) Token

Understanding who directly funds Monero can be tricky due to its emphasis on privacy, but it has attracted a solid base of investors. Monero has various indirect channels through which investors and institutions support and invest in the Monero ecosystem.

Large mining pools play a vital role in ensuring network security and processing transactions. Although they don’t directly fund Monero (XMR) Token, their involvement indicates a broader belief in Monero’s potential.

MinerGate, known for its wide user base, and SupportXMR, an open-source Monero mining pool, are actively contributing to community development. Also, Monero (XMR ) being listed on reputable exchanges like Binance and Kraken enhances accessibility and attracts large investors.

The Monero Community Development Fund (CDF) relies on donations to support developers and projects. Notable contributors include Edge Wallet and Cake Wallet, both actively contributing to the CDF.

Core team

What Monero Network Aims To Achieve In The Crypto Space And Beyond 

At its core, Monero champions the right to financial privacy, offering unparalleled anonymity through advanced cryptographic techniques. Transactions conducted on the Monero network are shielded from prying eyes, ensuring the confidentiality of senders, receivers, and transaction amounts.

This commitment to privacy empowers individuals to transact freely and securely without fear of surveillance or censorship and serves as a shield against oppression in regions where financial freedom is restricted.

Monero has had around 32 million XMR transactions, with approximately 8.6 million in 2022, a slight drop from its peak in 2021. In comparison, Bitcoin recorded nearly 800 million transactions during the same timeframe.

Monero transactions

Monero’s privacy features have legitimate applications in safeguarding sensitive financial information, protecting personal liberties, and preserving economic freedom.

How Does Monero (XMR) Work?

Monero’s core privacy features are its utilization of ring signatures, stealth addresses, and RingCT. Unlike transparent blockchains like Bitcoin and Ethereum, Monero prioritizes user confidentiality, offering a level of anonymity comparable to physical cash transactions.

Despite its acclaim within the cryptocurrency community, Monero hasn’t been immune to regulatory scrutiny. Regulatory bodies have raised concerns about the potential misuse of privacy coins, leading to restrictions on their trading and listing on certain exchanges.

However, Monero remains steadfast in its commitment to privacy, offering users a secure and private means of transacting in the digital realm.

Monero’s mining mechanism sets it apart from its peers, emphasizing inclusivity and accessibility. The RandomX algorithm, optimized for general-purpose CPUs, democratizes the mining process, allowing a diverse range of hardware to participate. This approach prevents the centralization of mining power, ensuring a more decentralized network.

Monero also introduced “smart mining,” a sustainable alternative that utilizes a computer’s idle processing power to mine XMR. This energy-efficient method aligns with Monero’s ethos of accessibility and sustainability in cryptocurrency mining. It also makes use of  Dandelion++  to hide IP addresses associated with nodes to avoid exposing sensitive information. 

What Makes The XMR Token Unique?

Monero’s approach to transaction handling sets it apart as a pioneer in the field of privacy-centric digital currencies. Through the utilization of split amounts and the generation of unique one-time addresses for each transaction fragment, Monero(XMR) effectively obscures the trail of funds, making it virtually impossible to trace the exact mix of currency units belonging to a recipient. This intricate methodology ensures that Monero transactions remain shrouded in secrecy, bolstering user confidence in the network’s ability to preserve financial privacy.

With features such as view keys and spend keys, Monero users have control over their accounts, allowing them to selectively grant access to specific parties while preserving the confidentiality of their financial information.

In essence, Monero’s unique blend of privacy-enhancing features, innovative transaction handling, and user-centric design sets it apart as a trailblazer in the cryptocurrency landscape.

XMR blockchain

Notable Features Of The Monero (XMR) Network

Privacy by Default: Monero utilizes advanced cryptographic techniques such as ring signatures, stealth addresses, and Ring Confidential Transactions (RingCT) to obfuscate transaction details, ensuring unparalleled privacy. 

Fungibility: Every XMR coin is interchangeable, ensuring that no history can be traced back to tarnish its value. This fungibility aspect is crucial for a currency to function effectively without discrimination based on its past usage.

Decentralization: Monero’s mining algorithm, CryptoNight, is designed to be ASIC-resistant, fostering a more decentralized mining ecosystem where individuals can participate using standard computer hardware, thus mitigating centralization risks.

Active Community: The Monero community is vibrant and passionate, constantly advocating for privacy rights and pushing the boundaries of technological innovation to safeguard financial sovereignty. 

Adoption and Recognition: Despite its emphasis on privacy, Monero has garnered significant attention from both users and institutions. It has found utility in various domains, including online marketplaces, remittances, and privacy-conscious transactions. Moreover, prominent figures in the cryptocurrency space have recognized Monero’s value proposition, further solidifying its position in the digital currency landscape.

Potential Applications Across Various Industries 

Financial Services Sector: Monero’s blockchain technology can revolutionize processes such as trade finance, lending, and asset management. Its privacy-enhancing features and technologies ensure that sensitive financial transactions remain confidential while still maintaining transparency and auditability. Additionally, Monero’s decentralized nature eliminates intermediaries and reduces costs. 

Supply Chain Management: This sector stands to gain significant advantages from Monero. By leveraging Monero’s immutable ledger and privacy-enhancing features, businesses can enhance transparency, traceability, and authenticity throughout the supply chain. Monero’s blockchain ensures the integrity of goods and reduces the risk of fraud and counterfeiting.

Media And entertainment industry: These two industries can also harness the power of Monero’s blockchain for various applications. Whether it’s managing digital rights, tracking royalties, or enhancing content distribution, Monero will help secure a transparent platform for content creators, distributors, and consumers. By utilizing Monero’s blockchain, companies can streamline royalty payments, protect intellectual property rights, and create new revenue streams in the digital media landscape.

Government Institutions: Monero’s blockchain has promising applications in government services; governments can leverage Monero’s blockchain for secure voting systems, digital identity management, and transparent public services.

Cybersecurity And IoT (Internet of Things). Monero’s decentralized and immutable ledger provides robust protection against data breaches and cyber-attacks. In IoT, Monero’s blockchain can facilitate secure data exchange and device authentication, ensuring the integrity and privacy of IoT ecosystems.

The Tokenomics Of XMR 

Monero XMR aims to maintain scarcity and foster value appreciation like Bitcoin. With a capped total supply of approximately 18.4 million XMR coins, similar to Bitcoin, Monero aims to prevent inflation, thereby potentially contributing to sustained value appreciation over the long term.

Monero endeavors to incentivize miners and uphold network security. Utilizing a Proof-of-Work (PoW) consensus mechanism, Monero relies on miners to safeguard the network. Initially, the emission rate of XMR was high but has gradually decreased over time. Currently, with a block reward of 0.6 XMR per block as of 2022, Monero introduces a “tail emission” to sustain ongoing miner incentives.

XMR tokenomics

Conclusion

Monero’s blockchain technology holds immense potential for transforming various industries by providing a secure, private, and transparent platform for conducting transactions and managing data. 

With its focus on anonymity and confidentiality, Monero offers a versatile solution for businesses seeking to enhance privacy, security, and efficiency across diverse sectors. As the adoption of blockchain technology continues to grow, the potential applications of Monero are limitless, paving the way for a more secure and decentralized future.

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Monero Plummets Following Major Crypto Exchange Delisting, Are More Losses Imminent?

On February 6, Monero (XMR), a privacy and security-focused token, saw its price drop after Binance, one of the largest crypto exchanges, announced its delisting in the following weeks alongside another three tokens.

Monero (XMR) To Be Delisted This Month

Binance recently announced the delisting and cease of all trading activity of Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR) starting on February 20, 2024, at 03:00 (UTC). The decision came after Binance’s most recent review, which determined that the platform could no longer support the tokens.

Following the review of digital assets in the exchange, Binance revealed its resolution to delist these tokens, affirming that they no longer met the exchange’s standards. Some of the factors the decision was based on include “evidence of unethical or fraudulent conduct or negligence” and “contribution to a healthy and sustainable crypto ecosystem.”

Binance has announced the removal of Monero’s trading pairs, including XMR/BNB, XMR/BTC, XMR/ETH, and XMR/USDT, from the platform. All trade orders will be automatically removed once the trading ceases.

Additionally, any XMR deposit done after February 21, 2024, at 03:00 (UTC), won’t be credited to the user’s accounts, and withdrawals of XMR will be supported until May 20, 2024. Binance also informed that XMR tokens may be converted into stablecoins on behalf of users after the withdrawal deadline, although it “is not guaranteed.”

Binance Faces Criticism Upon Delisting News

A plunge in Monero’s price immediately followed the announcement. According to data from CoinGecko, XMR went from trading at $165 before the announcement to $148 in the following 30 minutes. Since then, the token has continued to dive lower, trading at $111,85 at writing time, accounting for a 32.7% drop in the last 24 hours.

The crypto community received the news with concerns. Several users questioned the reasons for Monero’s delisting and expressed disappointment in the exchange’s decision.

The team behind Monero shared on its X account (formerly known as Twitter) that the delisting comes after Binance’s new requirement. The crypto exchange stated that deposits must come from a “publicly transparent address, which Monero doesn’t allow.”

Crypto Trader John Brown shared his thoughts on XMR’s delisting from the exchange on his X account, saying that, although it’s a negative situation for Monero, this is mostly a “negative sign for Binance” due to his belief that the exchange is “so compliant” that they no longer can choose the assets to support.

Last year, Binance and its former CEO Changpeng Zhao, known as CZ, faced regulatory scrutiny after pleading guilty in the United States to the charges of Anti-Money Laundering, Unlicensed Money Transmitting, and Sanctions Violations.

XMR, XMRUSDT, Monero

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Monero Has Been On A Bullish Run But Will The Momentum Hold?

The Monero price has rallied over the past week since the broader market recovered. Over the last 24 hours, XMR was consolidating despite its weekly gains. The coin traded laterally over the past few sessions before it started to dip on its chart.

As momentum halted recently, it is still uncertain whether XMR will resume its upward price movement. The technical outlook of the coin continued to side with the bulls despite lateral trading.

Accumulation remains high on the chart despite a downtick in demand over the last trading sessions. Monero also displayed overbuying tendencies, and the recent fall in the asset’s value could be tied to a price correction.

The altcoin can prevent considerable loss if Monero stays above its immediate support line. The market capitalization of Monero declined slightly, meaning that the coin encountered selling in the past trading sessions. At the current price, the coin was trading at 70% low than its all-time high secured in 2021.

Monero Price Analysis: One-Day Chart

Monero

XMR was trading at $166 at press time. Over the last week, the coin secured gains and pierced through various resistance lines. The coin crossed the $157 resistance line and flipped it into a support zone for itself.

Monero was trading on an ascending trendline (white), typically characterized by a breakout, either on the upside or the downside. Over the last 24 hours, XMR diverted from the trendline and fell on its chart.

This could imply that the coin will depreciate and rest at $163, then drop to $157 before rising again. For Monero, there was stiff resistance at $169, which is why the coin could not move past it.

The resistance above the line has not been breached since July last year. The amount of Monero traded in the previous session was red, indicating that the coin experienced some selling.

Technical Analysis

Monero

Although XMR noted a slight downtick in demand, sellers were minimal compared to buyers. The Relative Strength Index (RSI) was still above the 70 mark. This indicated that the asset was overbought, which means that a price correction for Monero was on its way.

Depicting bullishness, XMR was above the 20-Simple Moving Average line (SMA), indicating that buyers were driving the price momentum in the market. XMR also rested above the 50-SMA (yellow) and 200-SMA (green) lines.

Monero

Per the increase in accumulation, the technical outlook depicts buy signals. The Moving Average Convergence Divergence (MACD) reads the price momentum and trend reversals. MACD formed green signal bars, but the last bar declined in height. This ideally means that the price is expected to fall.

The Chaikin Money Flow indicates capital inflows and outflows; the indicator was above the half-line, reflecting increased institutional interest. Monero has been on the list of well-performing assets as the broader industry continues its recovery. Still, the chance of a price correction remains on the charts.

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Monero Price Continues Its Bullish Streak, Will This Be Its Next Trading Range?

Monero price has been bullish despite the broader market trends. Over the last 24 hours, XMR has continued moving up on its chart. It gained close to 4%.

In the past week, Monero price gained significantly as there was a 9% appreciation on the altcoin’s chart. The technical outlook for the coin was bullish on the one-day chart.

Monero has experienced low buying pressure over the past few days. The technical indicator now displayed that buying strength was recovering on the charts, which meant that XMR could be headed close to its next resistance mark.

With increased demand, XMR could hold onto its bullish momentum. The support zone for Monero price was between $146 and $136, respectively.

Bitcoin was also up on the charts, which has helped other altcoins make recoveries on their respective charts.

Monero has to move above the $146 price mark. That could only be possible if the demand for XMR continues to increase and remain consistent.

Monero Price Analysis: One Day Chart
Monero was priced at $146 on the one-day chart | Source: XMRUSD on TradingView

XMR was trading at $146 at the time of writing. The coin’s immediate resistance level was $154. The coin needs to move past that level for the bullish streak to strengthen on the chart.

The other tough price ceiling for Monero price to break past would be $163. The bulls have been rejected at that level for multiple weeks now.

On the flip side, if Monero prices go through a pullback, the first level for Monero would be $134. A fall below the $134 price mark could cause XMR to move down to $127.

The amount of Monero traded in the last trading session decreased, which indicated that selling strength had fallen at the time of writing.

Technical Analysis
Monero registered an increase in buying strength on the one-day chart | Source: XMRUSD on TradingView

XMR’s technical indicators have reflected the increase in buying strength, painting a positive price action. Selling strength on the chart declined, which could help XMR move up on its chart further.

At the moment, the Relative Strength Index moved up near the half-line, and buying strength and selling strength were almost even.

As the indicators displayed, the chart sided with the buyers more. Monero price moved up above the 20-SMA as buying strength recovered. It also meant that buyers were driving the price momentum in the market.

Monero registered buy signal on the one-day chart | Source: XMRUSD on TradingView

XMR’s other technical indicators are also inclined towards the bullish side. The Moving Average Convergence Divergence indicated the price momentum and overall price action.

The MACD underwent a bullish crossover and formed green signal bars, which was buy signal for the coin. The Parabolic SAR determines the price direction of a particular crypto.

The dotted line below the price candlestick means an upward trend for Monero price.

Featured image from The Street, Chart: TradingView.com

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Monero Soars 50% As Crypto Market Weakens, What’s Behind the Rally?

Popular privacy coin Monero (XMR) has been on a rally since the start of 2022. The cryptocurrency appears to be moving on its own as the crypto market trends sideways.

Related Reading | Monero And Zcash Take Off With 15% Gains, Here’s What May Have Spurred The Rally

Recently, XMR bulls are displaying more strength. At the time of writing, XMR trades at $285 with a 6% profit in 24 hours, a 34% and 50% profit in the last two weeks and 30-days, respectively.

XMR on an upward trend on the 4-hour chart. Source: XMRUSDT Tradingview

As announced by one of Monero’s maintainers via a post, the network will undergo an upgrade on July 16th, 2022, at the height of block 2.6 million. The “Fluorine Fermi” update will introduce new features to the network.

As the developer stated, Monero will increase its ring size from 11 to 16. The ring size is a term to refer to the total number of signers in an XMR transaction. As part of this network’s unique model, the update will provide users with more base privacy.

In addition, the network will implement an upgraded version of its Bulletproofs algorithm to decrease its transaction size by around 7%. This change is supposed to improve the network’s scalability by making “every transaction lighter and faster”.

On the latter, the network will reduce the wallet’s sync time by around 30 to 40%, the post said, and will implement a change to Monero’s fee model. Thus, users can expect to see an uptick in the network’s “security and resilience”.

As the update will be deployed via a Hard Fork, users and node operators will need to update their software. The maintainer made the following request to the users:

A new release will be announced before the network upgrade (around the 16th of June). You will only have to be using the updated software by the time the network upgrade occurs (16th July). To the end user, it will be like a simple software update.

#Monero will undergo a network upgrade on July 16th, 2022:https://t.co/9NKlGtqXAn

All users will need to do is keep their favorite wallet up to date, update their nodes once v0.18 is released (~June 16th), and enjoy even better digital cash afterwards 😎

— Monero (XMR) (@monero) April 20, 2022

Could Monero Be Spelling Danger For The Crypto Market?

It’s possible that Monero’s recent price action is due to its upcoming network update. As mentioned, they are substantial and will provide the users with interesting new features.

Data from Material Indicators (MI) records an increase in buying pressure from retail investors during April. At the same time, investors with ask orders larger than $10,000 have been selling into the rally. Unless larger investors classes step in, XMR could be at risk of a short-term decrease.

Retail (in yellow on the chart) buying into XMR’s price rally as larger investors sell or stay neutral. Source: Material Indicators.

Related Reading | Monero (XMR) Price Slides As Canada Includes Crypto In Emergencies Act

Additional data provided by Jarvis Labs indicates a potential danger for the entire crypto market. According to their “Dino Index” (comprise of Ethereum Classic, Zcash, Litecoin, Bitcoin Cash, and others), a metric to track the performance of these assets to show their inverse correlation with the crypto market, there could be some obstacles ahead. Jarvis Labs said via their Telegram Channel:

Quite evident that majority of the time when these dino coins rise and btc rises, better to look at profit taking or hedging the risk and look for market tops.

Source: Jarvis Labs via Telegram

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Monero And Zcash Take Off With 15% Gains, Here’s What May Have Spurred The Rally

Privacy coins, Zcash (ZEC) and Monero (XMR), have been outperforming larger cryptocurrencies in the last 24 hours. The sudden surge on the price of these cryptocurrencies seems to be responding to recent developments around the Russia-Ukraine conflict, and the signed of an executive order from the U.S. Joe Biden administration.

Related Reading | Monero (XMR) Price Slides As Canada Includes Crypto In Emergencies Act

At the time of writing, Zcash (ZEC) records a 11.7% profit trading at $142, while Monero (XMR) records a 15.5% profit trading at $195. These cryptocurrencies have been following the general sentiment in the crypto market flipping towards a more positive stands as Bitcoin breaks above $41,000.

FTX’s Privacy Index with moderate gains on the daily chart. Source: Tradingview
Zcash And Monero React To A FED Coin

As mentioned, the U.S. President Joe Biden has signed an executive order which has surprise for its positive approach to cryptocurrencies and digital assets. As the war between Russia and Ukraine ranges on, the International Community has quickly imposed financial sanctions of Putin, the Russian elite, and its banking system.

As Coin Center’s Executive Director Jerry Brito said, mainstream media have been pushing a negative narrative around cryptocurrencies. Classifying them as “dangerous”, and with the potential to allow Russia to evade sanctions. Fortunately, some U.S. government officials have also look at the other side of the coin.

The core message in this executive order, as Brito said, is a serious acknowledgment from the U.S. Federal Government of cryptocurrencies as legitimate assets. The crypto market seems to have gotten used to negative or nothing messages from the U.S., thus, why this news could have been translated into a relief rally.

Jake Chervinsky, Head of Policy at the Blockchain Association, commented the following on Biden’s executive order and why it has been perceived as bullish by market participants:

Anyone worried that President Biden’s executive order would spell doom & gloom for crypto can fully relax now. The main concern was that the EO might force rushed rulemaking or impose new & bad restrictions, but there’s nothing like that here. It’s about as good as we could ask.

In addition to the total surge in cryptocurrencies, privacy coins like Zcash and Monero seem to have benefited from the shift in narrative. The executive order also contemplates the creation of a U.S. Central Bank Digital Currency (CBDC).

This assets have been perceived as the oppositive of Bitcoin, Zcash, and Monero. Rather than give individuals power over their finances, they seem to provide governments with absolute control and oversight on the national currency. Thus, why some investors might have decided to increase their ZEC and XMR holdings.

POTUS: “My Administration places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC”

FedCoin 🚨

Worth noting this entire executive order on digital assets is heavy on CBDCs, doesn’t mention Bitcoin pic.twitter.com/PuXtVI34hD

— Alex Gladstein 🌋 ⚡ (@gladstein) March 9, 2022

Privacy About To Gain More Relevance?

Other privacy coins have seen a similar rally with Dash (DASH) recording a 12.8% increase over the past day. Oasis Network (ROSE), Secret (SCRT), Horizen (ZEN), and Keep Network (KEEP) averaging a similar profit during the same period.

In low timeframes, data from Material Indicators suggest retail investors have been leading ZEC and XMR rallies. Investors with bid order of around $100 injected close to $1 billion in liquidity for the ZEC/USDT trading pair.

Related Reading | Monero (XMR) Readies For A Breakout As It Touches Important Milestone

The XMR/USDT trading pair has seen a similar story. Retail investors are also leading the rally in lo timeframes.

Retail Investors (yellow line on the chart) leading the rally above all other classes. Source: Material Indicators

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How This Monero Bug Could Impact User Privacy

A “significant” decoy selection bug has been reported for Monero via the project’s official Twitter handle. According to the investigation, carried out by software developer Justin Berman, the bug “may impact your transaction’s privacy” during a brief window of time after funds have been received.

If users spend funds immediately following the lock time in the first 2 blocks allowable by consensus rules (~20 minutes after receiving funds), then there is a good probability that the output can be identified as the true spend.

Monero Research Lab clarified that the data at risk of exposure is related to addresses or transactions amounts, the funds themself are “Never at risk of being stolen”. Since the report was published around 10 hours ago, the bug has persisted in the “official wallet code”.

In order to mitigate the bug, users can wait 1 hour before spending funds after receiving them. Developers are currently working on a wallet software update. This won’t need to be implemented via a Hard Fork.

The Monero Research Lab and Monero developers take this matter very seriously. We will provide an update when wallet fixes are available.

A Potential Fix For The Monero Decoy Selection Bug

On the Monero Project GitHub repository, Berman made a detailed explanation of the bug. He revealed that his investigation was run by core developers before it was published. He clarified that the decoy selection mechanism that affects the software wallet has “0 change of selecting extremely recent outputs as decoys”.

Thus, why users can mitigate the bug by spending their funds after a while. As the developer clarified, the algorithm introduces 10 “decoys” into a Monero ring, later, it hides the real output. The selection mechanism has almost 0 chance of selecting a decoy with less than 100 outputs, but still, the probability is there:

The fact that there is still a chance to select a decoy with output index <100 is thanks to this part of the algorithm which takes the output_index determined by exp(x), finds the block it’s in, and then randomly selects an output from that block. So outputs from blocks that have >100 outputs have a chance at being selected as decoys.

Although it is still under development, Berman believes that the solution for the Monero bug will require a modification to the decoy selection mechanism. This could potentially impact the uniformity of the transactions if they are processed by a node without the update versus the way update nodes will construct rings, the developer said.

The fix I’m leaning toward at the moment is that the algorithm is off by 1 block, meaning that the paper’s observed gamma distribution simply plotted observed spents. At a block time of 120 seconds, you would expect next to 0 outputs to be spent in less than 120 seconds, which the paper’s recommended gamma distribution seems to corroborate.

At the time of writing, Monero (XMR) trades at $220.95 with a 16.1% profit in the weekly chart. XMR follows the general market sentiment moving sideways after a significant push to the upside during the weekend.

Monero XMR XMRUSDT
XMR follows the general market sentiment in the daily chart. Source: XMRUSDT Tradingview