Ana Sullivan

XMR Token (Monero) in 2018 – Will It Be Banned or Rise

by Ana Sullivan April 4, 2018

The Monero cryptocurrency and it’s XMR tokens have continued to rise in popularity, especially when it comes to the dark web and the deep web. The token, used by gunrunners, drug dealers and assassins has also been used by many who want to launder their funds and skip paying taxes. But given the recent U.S. government crackdown on cryptocurrencies, will Monero remain the world’s most anonymous cryptocurrency or will it plummet as a result of more imposed rules and higher control, conducted by the government.

 

Monero’s XMR Token at The Moment

At current state, the Monero XMR token is enjoying a high 24 hour volume of around 40 million USD and is holding up a sub $170 price levels. This is much higher than it used to be at the end of 2017 and start of 2018, when it rose to an all-time high of $455.40 as a result of the “balloon” being inflated.  

 

Monero and XMR – Overall Performance

 

The main core competence of the Monero blockchain is that while It may be very close to BitCoin, the currency is significantly more anonymous, since it’s encryption is on more levels and forbids users to track the cryptocurrency sender and receiver. This makes it an ideal currency for the ones who do not want to pay taxes and the ones who profit on illegal activities. And while being highly decentralized and controlled by literally no one, the token is also on the scope of federal agencies and other governmental institutions alike. So to stay alive in this market, Monero surely needs to handle the storm that will likely hit it with upcoming regulations.

 

But overall and all, on the bright side, the cryptocurrency has quite the community behind it and a motivated one as well. And with the latest CryptoNight algorithm which came out earlier this year, the currency is one of the most profitable  out there when it comes to mining at the moment. And when we add to this a much higher usage of the crypto on a global scale, it still shapes up to be a winner in the long term, if we exclude government regulations, that is. But if you are an investor who is looking to see if Monero will rise soon, be advised that this is one of the most volatile assets out there and given it’s nature and government’s struggles to control this crypto, it is likely that it’s value may not hold for long. But in any case, do not take this as an investment advise and always check the latest developments by participating in the Monero community and following XMR’s movement and overall progress in social media.

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