Max E.Tue, Apr 5, 2022 3:30 PM
Monero & Celo: 5 April Price Digest
At the time of writing, the price of Monero (XRM) is $226.46. Over the past 24 hours, the price of the asset has increased by 5.84%.
Launched in 2014, XMR (Monero) is a decentralized privacy-focused, censorship-resistant cryptocurrency. The Monero blockchain allows for completely anonymous transactions.
XMR price reached its first peak in January 2018 due to the overall bullish trend on the crypto market. Since then, the demand for Monero has increased several times, and the platform continues to attract new investors to this day.
XMR has a significant market capitalization. Monero’s security and anonymity, as well as the positive dynamics of the overall crypto market, boost its mass adoption.
On March 31, the European Union voted to expand anti-money laundering (AML) requirements for cryptocurrency exchanges. Identity verification is now necessary to make cryptocurrency payments, and exchanges are obliged to block suspicious transactions.
The current rise in the price of XMR is largely due to traders seeking to avoid these restrictions. Other confidential cryptocurrencies, e.g. Zcash, have also seen some growth in value.
The crypto market is showing volatility yet again, therefore investors are waiting out the current stage, actively monitoring the latest changes. Although many coins have moved into the red zone in the altcoin sector, there are exceptions.
Thus, early on Tuesday morning, the Celo token hit a three-month high of $5.19. At the time of writing, the price of the asset is $4.92. The price has increased by 25.10% in the last 24 hours and by 42% in the last week. The market capitalization of the coin has increased to over $2 billion. The last time CELO traded at such levels was in early January.
The price was positively affected by the two-day conference, hosted by the Celo Foundation, taking place on April 4-5th in Barcelona. On the very first day of the conference, the company announced an initiative aimed at the global implementation of crypto payments. As a part of the initiative, the foundation will offer cash incentives to payment providers and partner with a team of developers creating coordination tools for decentralized autonomous organizations. For these purposes, the organization will allocate $20 million.