It has been a while since I wrote my last write-up on Monero news.
Time to get back in and let the Monero community know about recent developments in the Monero cryptocurrency.
Monero’s been known for its privacy which is its unique point that sells it and keeps it on the market.
So stay tuned and learn what has been happening with Monero so far in 2018.
Analysis of Monero Price
Monero’s price at the time of writing this post is 89.66 USD.
At the beginning of 2018, the Monero prediction was very positive. However, Monero wasn’t doing so well from the April to the end of the June 2018. It lost 63% of its value, yet the good news is that Monero started recovering very quickly.
It is considered to be one of the best performing altcoins since it showed a bounce of 12% after the crash.
Today, Monero is ranging in the medium-term outlook and is still slowly increasing in price, and it is still recovering from the dip it had.
Prediction is that Monero will still continue to increase in price, which makes it one of the better-looking cryptocurrencies to invest in for long-term opportunities. It’s a great way to diversify the portfolio too.
Even though Monero has recently experienced a drop, it is still predicted to increase in price and it’s actually a good opportunity for the investors. It must have been the advantages of Monero that keep it increasing which help it grow.
In the near future, Monero’s price is expected to reach $350-$400 by the end of 2018. But it’s hard to tell what will happen and how will Monero continue after it fully recovers from the most recent crash.
As you may have noticed the faith in all cryptocurrencies has failed in the last few months. 2018 has been terrible for all coins. Some of the cryptos have just disappeared. Monero still remains a crypto to watch for.
New Wallets Which Support Monero
Trezor has announced support
It’s very unfortunate to see that TREZOR isn’t supporting Monero just yet. The good news is that in June 2018, the Trezor team announced support for Monero.
Keep your eyes out for this one.
Ledger Nano S
Ledger has recently started supporting Monero with their Nano S wallet. It’s the most versatile and popular hard wallet, which is very similar to the USB flash drive. You should know by now, how much I love the Ledger Nano S. I consider it my favorite hardware wallet to store cryptos.
There’s only one thing you should know about Ledger Nano S. It’s not actually storing currency in the wallet, it’s only tracking your XMR holdings on the blockchain.
XMRWallet is the latest wallet created just for XMR cryptocurrency. It’s very similar to the MyMonero wallet, yet it can be considered as an improved and upgraded version.
The owner has been working on it for 7 months, and it’s been released just this year. The code for the website is also available on Github. However, the code for the backend is not open-source.
Some of the features provided by Nath, the owner, for XMRWallet are:
- Fully client-side
- Fast transactions
- Instant account creation
- Multiple language support (10)
- Compatible with MyMonero seed (import wallet)
- Compatible with original monero seed (import wallet)
- No transaction import required (entire wallet sync)
- Visible height syncronization (with progress bar)
- XMR/USD balance view (auto updates)
- Max function on send page
- Multiple seed access (in new tab)
- No registration required, No logs
You can give it a try and let me know your thoughts. If you’re not feeling like you prefer XMRWallet, you can always go back to MyMonero wallet or your other wallets.
New Exchanges Which Support Monero
There haven’t been any new exchanges opened for Monero in H1 2018. However, here are a few popular exchanges that support Monero.
If you’re looking to trade Monero for cash, Changelly can help you out as they accept USD and Euro as a payment method.
Another thing to note is the fee which varies from exchange to exchange. Binance has the smallest fee of .05%-1%, but they only accept BTC and ETC for the payment.
On the other hand, Changelly accepts both BTC and ETC along with the USD and Euro, however, their fees are .25%.
Monero’s popularity is increasing and I believe by the end of 2018, we will be able to see many other exchanges supporting Monero.
Interesting Code Developments
As of writing this post, the latest Monero development meeting took place on July 29, 2018. All Bullet Proof (BP) audits have come in, and there were no major issues found, however, some changes were suggested.
The next update which will happen to Monero is probably going to be a scheduled protocol upgrade.
Some of the developers are continuing to work on a MessagePack encoding scheme to supplement JSON while others are working on ZeroMQ implementation which can be expected very soon.
Some work is being done on a blockchain ancestry application which calculates cardinal of an output’s ancestry.
The next developer meeting is scheduled for 12 August, where more information and update on the code development will be released.
The future of Monero is predicted to be positive, however, it can’t be told for sure, especially after the recent crash and price drop.
Monero is definitely one of the most popular and accepted cryptocurrencies. This is because of its privacy advantages.
It’s good to see how Monero is getting upgraded and worked on constantly. Also good to see services are accepting Monero for exchange and even new wallets are being made especially for the Monero cryptocurrency.
The future seems bright for Monero, and hopefully, it will fully recover from the latest crash to reach its full potential.
Let me know what you want to hear in my next update.