Monero, a privacy-focused crypto asset, has experienced significant value gains over the past two weeks. Its price has jumped 36% 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
This week saw double-digit growth in the privacy-focused digital currency monero. However, most crypto economies have suffered losses and experienced a consolidation period. 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.”
Monero (XMR), which has gained 58% year-to-date against the U.S. Dollar, has a market cap of $4.4 billion and is ranked 44th out of 12,135 crypto assets. XMR accounts for 0.19% the $2.3 trillion crypto-economy as of 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. BTC (18.39%) and ETH (7.83%) are next, followed by USD (5.94%) and EUR (3.35%), GBP (2.2.32%), JPY (2.32%).
Monero is an open source digital currency network that uses Cryptonote technology. Although it is believed that the blockchain network may be obscured, Ciphertrace, an online surveillance firm for blockchain technology claims that it does have monero tracking capabilities.
The project’s privacy techniques include IP address obscuring, ring signatures, zero-knowledge proofs, bulletproofs, and stealth addresses. A Monero developer had announced BTC to XMR atomic-swap capabilities towards the end of August 2021. A number of darknet platforms also allow monero to be leveraged, including XMR (Monero).
Monero is also up against privacy-coin rivals such as dash (DASH), horizen(ZEN) and zcash/ZEC. ZEN has risen by 438% against the U.S. Dollar, while ZEC has increased 130.8% in the past year.
Monero has risen 36% against USD during the two week period of the miner malware reports. What is your opinion? Comment below and let us know how you feel about the subject.
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