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    XMR & IOST: 12 April Price Digest

    Monero ad IOST price digest

    XMR 

    The crypto market along with business activity indices experienced a strong drop this week. For example, the American indicators Dow 30 and Nasdaq closed the day before with a decrease of more than 2%. Asian and European markets also suffered losses today, so the exit of capital from the cryptosphere did not come as a surprise to most observers.

    Unless a meaningful catalyst emerges to help create some bullish momentum, it looks like Bitcoin will struggle to break out of its old trading range in the coming weeks. Similarly, ETH and most of the major altcoins have gone red again. However, there are exceptions – in particular, Monero. The cryptocurrency is gaining in price amid the negative trend that dominates the crypto market. Over the past 24 hours, the value of the asset has increased by 7.79%. At the time of writing, the price of XMR is $244.75

    XMR price chart

    Monero (XRM), launched in 2014, aims to provide private and anonymous transactions, concealing both senders’ and recipients’ information. The Monero platform offers multiple innovative privacy features for its users.

    Last spring, the price of the cryptocurrency reached $513, and the growth of its value was accompanied by a surge in XRM mentions on social networks. At the end of December 2021, the coin was trading above $250, but later, holders massively sold the asset. The ascent resumed in mid-January of this year.

    As with other altcoins, Monero's bull run can only be interrupted if the price of Bitcoin falls again. This may cause panic among investors, forcing them to close their positions and take profits.

    IOST 

    IOST is a next-generation scalable smart contract platform. Over the past 24 hours, the value of the platform's native token has increased by 7.30%. At the time of writing, the price of the asset is $0.03046.

    IOST price chart

    Earlier this month, IOST announced the launch of Project Entroverse, a set of solutions that would help accelerate the growth of the IOST developer ecosystem.

    The purpose of the project is to capitalize on the growing popularity of decentralized applications on Ethereum and the IOST network. In April, IOST will publish additional data and reveal plans for the development of the new project.

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research. This text is not a guide to action. The author's opinion may not coincide with the opinion of CoinJoy.

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