Cryptocurrency Spotter: XMR Monero (XMR) Heading to $178.110

April 2, 2018      

Doing a quick scan of the cryptocurrency market, we have noted that XMR Monero (XMR) has recently touched the $178.110 mark. Looking at circulating supply levels, we see that the value is 15,890,561.00 with a market capitalization of 2,830,267,842.00. Watching some volume levels, we see that volume over the last 24 hours clocks in at 31,929,900.00. Tracking some historical price data for XMR Monero (XMR), we see that the cryptocurrency has seen a move of 3.61% over the past 24 hours, and a change of -9.86% over the previous 7 days.

Over the past few months, the cryptocurrency market has become the talk of the investing community. While it remains to be seen what will eventually come from all the hype, investors may continue to survey the situation to make sure that they’re not left out in the cold. Even after all the publicity, investors still may not know what to make of cryptocurrency at this point in time. If they decide that the potential is too big to ignore, they may decide to get in on the action. Investors may need to figure out whether the risks will be worth the reward in the long run. Because the crypto phenomenon is still relatively new to many individuals, it may require a lot more study and examination to completely understand the space.

As the cryptocurrency market expands, investors have plenty of options to choose from. Most individuals will be familiar with popular names such as Bitcoin, Ethereum and Ripple, but there are plenty of other options out there. Because of the many unknowns and high volatility surrounding cryptocurrencies, investors may want to take a step back to study some trends. The frenzy that has ensued over the past few months surrounding the popularity of cryptocurrencies has no doubt raised many eyebrows around the world. The sudden surge has many investors scrambling for information, and there are many supporters and detractors that have opined on the subject. Nobody can say for sure what the future holds for virtual currency, but it will undoubtedly be interesting to see how the markets behave over the next few months.

Not only have Bitcoin and other cryptocurrencies been thrust into the spotlight, but so has the underlying blockchain technology. The pioneering technology depends on a continuously updating public ledger that records transactions. Blockchain allows for the processing of transactions without a third-party intermediary. Using this technology for peer to peer transactions lets the buyer and seller conduct business without the need of a payment processing company or a bank. Although there are many pros and cons associated, it is hard to deny that the technology has the potential to be an absolute game changer.

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