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Friday, July 1, 2022

Monero Price Increases By 20% Following Implementation Of Atomic Swap

The crypto project of Monero has introduced a brand new way of exchanging between Bitcoin and Monero in the previous week. The method does not require any trust.

Monero’s Atomic Swap Has A Positive Response

Monero, which is the XMR token, is the biggest cryptocurrency in regards to market capitalization value that focuses on privacy. Now they have reported a price surge of 20% after their latest program launched and was implemented in the previous week. It is known as the Atomic Swap.

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On Friday, an official statement was issued by the crypto project of Monero. There, they announced that the implementation of Atomic Swap was being rolled out. The program has been developed by COMIT Network, a protocol that works across blockchains. The latest program aims to make trades between Bitcoin (BTC) and XMR easier and simpler.

After Monero’s Atomic Swap was launched, a noticeable surge has been observed with regards to XMR prices. The token’s price was around $265 at the beginning of the day when the program was launched. Eventually, it had climbed to $331 which was the highest in the week. When this article was being written, XMR’s trading price was $318. This is a decrease of about 2.4% in a period of 24 hours. The report had been published by CoinGecko.

After a bullish trend that has been primarily solid in the largest crypto markets, XMR prices are up by more than 50% in the previous 30 days.

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ErCiccione, a contributor to the Monero Project, explained that the latest technology would cut out the need for any third parties while exchanging XMR and BTC. He explained that the trades can either be ‘successful’ or not. Currently, XMR is Number 30 on the ranking of cryptocurrencies according to market capitalization.

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