What was the reason behind Monero `s growth in recent days?

Monero News by Pipsafe – Privacy coins are on the rise despite the market downturn. Monero is one such coin whose price has risen 17% in the last 7 days. Analysts believe that the reason behind Monero’s price increase is the lack of reliance on Bitcoin and Ethereum trends.

According to CoinMarketCap, XMR has grown by nearly 17% over the last seven days, despite  continuous improvements in the crypto market. This upward trend allowed Monero to offset almost half of its 60% price correction. Previously, Classic Litecoin Currency had implemented a new update that allowed anonymous transactions.

However, many centralized exchanges have expressed concerns about new updates and warn users that they will not use new technology to process transactions sent to the exchange. This feature can come at the expense of private coins like Monero, as  XMR was previously less popular in crypto exchanges.

Source: www.u.today

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