• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
iphone
Nexo Logo

Monero Price Up 15% as World’s Largest Cryptocurrency Exchange

Joseph Young by Joseph Young
5 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement

Monero, the world’s second largest anonymous cryptocurrency, is up 22 percent again today, on August 26.

For many years, Monero has been regarded as one of the few cryptocurrencies that is highly legitimate, backed by an experienced and talented development team. It had no pre-sales or controversial mining deals for its miners. The Monero development and community have shown unity since it forked off from Bytecoin, with almost all of its hard forks executed without any contention amongst developers, community members, industry and miners.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Yet, it has struggled to see an increase in its value. It was pushed out of its top 10 largest cryptocurrency spot and was overtaken by Dash, another anonymous cryptocurrency. A large factor of Monero’s struggle in obtaining an active consumer base and trading market has been the lack of support from large-scale trading platforms and wallets.

Dash for instance, despite its controversial pre-sale and negative reputation, was remained as the world’s seventh largest cryptocurrency for many months due to the support from Jaxx and leading exchanges.

This week, Bithumb, South Korea’s leading bitcoin exchange and the world’s largest cryptocurrency exchange, is about to provide the push Monero has long needed. Bithumb is set to list Monero in its cryptocurrency trading platform tomorrow, on August 27. Because it handles around $700 million worth of trades on a daily basis, the integration of Monero by Bithumb is expected to be an immediate and drastic increase in liquidity for Monero traders, users and investors.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Starting August 23, when Bithumb began to accept deposits from Monero traders, the price of Monero surged, even before the exchange fully listed the cryptocurrency. Tomorrow, as Bithumb completes its last phase of integration and opens Monero trading, the price of Monero will likely surge once again.

Monero was able to rise by 22 percent earlier today due to upward momentum supported by Bithumb and optimistic traders in Asia. So far, every cryptocurrency released or introduced by Bithumb to the South Korean cryptocurrency exchange market has seen a drastic increase in value and trading volume. Ethereum, Ethereum Classic, Ripple and Litecoin have all seen rapid increase in value after being listed by Bithumb and Korbit, two largest exchanges in South Korea.

More importantly, the South Korean exchange market and its traders are highly attracted to cryptocurrencies that have special attributes. For instnace, South Korean traders are keen on Ethereum due to its smart contract-based protocol and flexible ecosystem. The anonymity of Monero will likely attract many investors on the Bithumb platform and if it is well accepted by the South Korean market, Monero could make its way back to the top five cryptocurrencies. Already, it has surpassed Zcash and many other cryptocurrencies to become the tenth largest cryptocurrency in the market.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Image License: Pixabay

Tags: bitcoinethereumexchangeinvestmentLitecoinmoneropriceSouth Koreatrading
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Joseph Young

Joseph Young

Joseph is a web developer and designer, writer and a passionate musician who loves to travel often. He's worked as a researcher for a number of venture capital firms and as a freelancer designer for resorts and corporations in Korea and the Philippines.

Related Posts

TA- The Price Of Axie Infinity Struggles Despite Crypto Relief Rally

TA- The Price Of Axie Infinity Struggles Despite Crypto Relief Rally

8 hours ago
TA- Price Of Cardano Bounces From Support, Gears For A Bullish Run

TA- Price Of Cardano Bounces From Support, Gears For A Bullish Run

17 hours ago
Cardano

Cardano Price Sits Pretty At $0.5, Why A Breakout Is On The Horizon

1 day ago
TA – Harmony (ONE) Price Shows Bullish Signs – Eyes $0.04

TA – Harmony (ONE) Price Shows Bullish Signs – Eyes $0.04

1 day ago
Ethereum

Ethereum Price Forecast Remains Bullish As Network Nears Another Milestone

1 day ago
TA – Ethereum Price Faces Resistance As Merge Date Is Announced

TA – Ethereum Price Faces Resistance As Merge Date Is Announced

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Earn Rewards From Quilvius Using Bitcoin

August 13, 2022

Gnox (GNOX), Sandbox (SAND) and Decentraland (MANA): The Most Promising Investments in 2022

August 13, 2022

Here’s What Arab Investors Are Buying Right Now! Uniglo (GLO), Fantom (FTM), Bitcoin (BTC) And Spookyswap (BOO)

August 13, 2022

LBank Exchange Will List RedEyesMovement (REM) on August 15, 2022

August 13, 2022

As Nearly 75% of Retailers Plan to Accept Crypto, Watch Out for Dogecoin and HachiFi

August 13, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.