With more and more altcoins getting an increasing amount of attention on high-profile news sites, you’ve almost certainly heard of Monero (XMR). It’s definitely one of the most talked-about alternative currencies on the market. And while this coin has some pretty standard cryptocurrency features, its unique advantages are what sets it apart from the crowd.
For one thing, it’s seen a ton of growth lately. In the past 24 hours, it’s jumped about nine percent. Meanwhile, the past 30 days of trading have driven Monero 129 percent higher. If you bought in a year ago, you’ve seen your investment expand to the tune of 2,699 percent.
At the time of writing, this crypto-coin is the tenth most valuable on the market. At $393.89 a piece, the whole currency is worth about $6.1 billion.
This cryptocurrency was launched in a nonconventional way. Unlike many of its rival altcoins, the founders did not set aside any amount of the freshly-issued digital currency for themselves. In fact, the development team has put a lot of power into the hands of the wider community.
But if there is one thing Monero’s known for, it’s anonymity. Not that many coins have been able to offer total privacy. We all know that one of the major reasons for Bitcoin’s original development was to obscure the identities of parties engaging in a transaction – but that hasn’t exactly been the case.