Despite Negative Mining Malware Press, Privacy-Focused Crypto Monero Jumps 36% in 2 Weeks
The privacy-centric crypto asset monero has seen significant gains during the last two weeks, jumping 36% in value against the U.S. dollar. Despite the negative press from the “Spider-Man: No Way Home” torrents with monero mining malware, seven-day statistics indicate the crypto asset has gained more than 21%. Monero Sees Double-Digit Gains Amid Mining Malware Headlines
The privacy-focused digital currency monero (XMR) has seen double-digit gains this week, while most of the crypto economy has suffered losses and seen a period of consolidation. Just recently, XMR made headlines after a cybersecurity firm warned that torrent files containing the “Spider-Man: No Way Home” film may contain malicious monero mining malware.
Mining malware reports have plagued the Monero community for years as some applications exist which hijack a victim’s CPU, and then mine monero without the victim knowing. The act is sometimes referred to as “cryptojacking.”
Year-to-date, monero (XMR) has gained 58% against the U.S. dollar and the crypto asset has a market capitalization of around $4.4 billion, ranked 44th among 12,135 crypto assets. XMR represents 0.19% of the $2.3 trillion crypto-economy on January 1, 2022. XMR/USD chart on January 1, 2022.
XMR has a 24-hour price range of around $227.51 to $248.45 per unit and tether (USDT) is the asset’s biggest trading pair with 42% of all trades. This is followed by BTC (18.39%), ETH (7.83%), USD (5.94%), EUR (3.35%), GBP (2.32%), and JPY (2.32%).
Monero (XMR) is an open-source digital currency network based on Cryptonote technology authored by Nicolas van Saberhagen in 2013. The blockchain network is said to be obfuscated but the blockchain surveillance firm Ciphertrace claims it has monero tracing capabilities.
The project’s privacy techniques include IP address obscuring, ring signatures, zero-knowledge proofs, bulletproofs, and stealth addresses. At the end of August 2021, a Monero developer announced BTC to XMR atomic swap capabilities. Additionally, monero (XMR) is leveraged on a number of darknet marketplaces.
Monero also faces numerous privacy-coin competitors such as horizen (ZEN), dash (DASH), and zcash (ZEC). ZEN, for instance, has gained 438% year-to-date against the U.S. dollar and ZEC increased 130.8% this past year. Tags in this story BTC to XMR atomic swap, bulletproofs, Ciphertrace, dash, horizen, Mining Malware, Monero, Monero (XMR), Privacy, Privacy Assets, privacy coins, Ring Signatures, stealth addresses, xmr, XMR gains, Zcash, ZEC, zen, zero knowledge proof, zk-SNARKs
What do you think about monero jumping 36% in value against the USD over the last two weeks amid the mining malware reports? Let us know what you think about this subject in the comments section below. Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. 2021"s Digital Asset Shuffle: A Myriad of Crypto Market Cap Positions Moved Chaotically This Year MARKETS AND PRICES | 2 days ago Investment Adviser Warns It"s a Mistake to Ignore Crypto Assets, Predicts Cryptocurrencies Will Outperform Equities MARKETS AND PRICES | 3 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleIndian Authorities Raid Cryptocurrency Exchanges for Tax Evasion Next articleShiba Inu Project Reveals ‘Doggy DAO,’ Devs Say Phase 1 to Provide ‘Immediate Power to the SHIB Army’ Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItEthereum Has Burned 1.2 Million ETH in 4 Months, Close to $5 Billion in Ether Destroyed
With three days left until the end of 2021, the Ethereum network and its native token ether have had a phenomenal year as ether has increased more than 450% in value in 12 months. 145 days ago, on August 5, ... read more.Ethereum Hashrate Taps Record-Setting 1 Petahash as ETH’s Mining Profitability Remains High Billionaire Ray Dalio Sees Limitation on Bitcoin"s Price, Doubts BTC Can Reach $1 Million Mexico"s Third Richest Billionaire"s Advice: Invest in Bitcoin, Stay Away From Dollars, Euros Million-Dollar Digital Collectibles: An In-Depth Look at the Top 10 Most Expensive NFTs Sold This Year