Monero is currently the best performing cryptocurrency among the top 100 cryptocurrencies by market cap in the last 24 hours.
Monero (XMR) surpassed $164 on Aug. 2, recording an intraday gain of nearly 5%, while most of the cryptocurrency market struggled as Wall Street traded in the deep red.
Privacy coin Monero has faced challenges in recent months, mainly due to several exchanges delisting its native token amid increased regulatory scrutiny. Nevertheless, XMR remains one of the top 100 coins by market capitalization, currently ranking 27th with a market cap of $2.9 billion.
XMR Rised to $175 in July
Monero prices rose to $175 on July 26, but then fell in the following days as overall cryptocurrency weakness scared bulls. On August 1, as Bitcoin crashed to nearly $62,000, XMR hit a low of $150, its lowest since July 8.
XMR traded at an all-time high of over $542 in 2018.
XMR is trading below the $180 high it reached in mid-June, but a rally to above $160 on Aug. 2 came amid positive news for the privacy coin.
Earlier this week, the Monero team announced that they were working with Cake Wallet, a non-custodial wallet for Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), to bring Monero to its Keystone hardware wallet.
The partnership was confirmed by Keystone, an open source hardware cold wallet provider.
News of exchange delistings affecting XMR has been countered by the community responding positively to the latest developments: Keystone announced plans to become the first hardware wallet to support the native Monero Mnemonic Seed, further solidifying the community’s trust.
Monero also recently featured a deployment case where a grocery store in New York started accepting XMR as payment from customers.
