All cryptocurrencies are on the verge of noting some interesting gains over the next hours and days. The Bitcoin momentum remains firmly in place, yet it is the Monero price which is getting everyone’s attention as of right now. A very strong increase has pushed its value above $138 again, particularly when looking at some of the recent ecosystem developments.
Monero Price is on the Rise
These past 24 hours have been relatively interesting for most of the cryptocurrencies on the market today. Fueled by an increase in Bitcoin’s value, it would appear all of the altcoins will see their fair share of upward momentum as well. Albeit top currencies are still a bit behind the curve in this regard, the Monero price is going on another bull run. It is the third time in the past week and a half strong gains are noted in quick succession.
It would appear this current market sentiment is fueled by a new development. More specifically, it is now possible to buy anything online with Monero, courtesy of a service known as The Big Coin. It enables similar functionality for Bitcoin, Ethereum, Litecoin, and Dash. Adding Monero to this short list of supported currencies shows there is a growing demand for spending XMR in a convenient manner on everyday purchases.
There is also a recent Youtube video which discusses some of the recent Bitcoin price predictions uttered by John McAfee.Although that seemingly has nothing to do with Monero directly, McAfee touches upon this privacy and anonymity-oriented cryptocurrency in a positive manner. As the industry has seen in the post nay positive remarks by McAfee have the potential of making prices go up accordingly.
Last but not least, it appears a new Monero-only mining operating system is in development. Known as Pickaxe Mining OS, is it a forked version of Linux which immediately miens Monero when it is booted up. This solution supports both CPUs and GPUs alike, and seemingly requires no further setup whatsoever. An interesting solution which can be toggled through the plug-and-play method on demand.
Thanks to all of these developments, it seems the recent Monero price increases are rather easy to explain. A strong 13.53% gain has been recorded over the past 2 4 hours, which is fueled by only $70m in 24-hour trading volume. Although that volume is not nearly as impressive as some of the other altcoins on the market, it is more than sufficient to keep the Monero price going at this stage.
Cryptocurrencies need to keep growing and evolving to remain competitive. This is especially true when it comes to privacy and anonymity, as there are numerous projects tackling these aspects at this stage. For Monero, it seems things are finally coming together rather nicely, albeit there is still a lot of work to be done to convince most everyday people on the street.