NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Despite Daily Transactions Peaking IRS Scare Tactics Have Monero Investors Spooked

Samuel Wan
Samuel Wan
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Privacy coin Monero presses on full steam ahead as its daily transaction count reaches all-time highs. Data from bitinfocharts.com shows the daily number of XMR transactions peaked at 20.136k on October 12, 2020.

This smashes the previous all-time high of 16.689k daily transactions, achieved less than a month and a half ago.

Monero daily transaction chart

Source: bitinfocharts.com

Since July last year, Monero’s daily transaction count has formed an ascending broadening pattern, characterized by two diverging trend lines.

Typically, this pattern indicates random disagreement between investors.

With that, it’s possible that some investors feel uncertainty as a result of the IRS’s campaign to “break” Monero and other privacy coins.

The IRS is Gunning For Monero

The IRS has, in recent times, ramped up its focus on privacy coins. Last month, blockchain analytics firm CipherTrace announced it had developed a Monero tracking tool in conjunction with law enforcement and government agencies.

“Our research and development team worked for a year on developing techniques for providing financial investigators with analysis tools. There is much work still to be done, but CipherTrace is proud to announce the world’s first Monero tracing capability.”

However, in an interview with Compliance Analyst at DV Trading, Justin Ehrenhofer, and Monero Labs Researcher, Dr. Sarang Noether, Dave Jevans, the CEO of CipherTrace, admitted the technology is limited to statistical likelihoods.

As such, despite the bravado, at present, there remains no way to directly trace ring signers on Monero.

At around the same time, the IRS also launched a bounty program recruiting help in tracking cryptocurrency transactions.

Up for grabs was a cash reward of up to $625,000 for parties who provided solutions in cracking privacy technology.

“IRS-CI is seeking a solution with one or more Contractors to provide innovative solutions for tracing and attribution of privacy coins and Layer 2 off-chain transactions, such as expert tools, data, source code, algorithms, and software development services to assist their Cyber Crimes agents in carrying out their mission as it relates to cryptocurrency privacy technologies.”

The proposal expired on September 16, 2020, and there have been no further updates regarding the success of the program.

XMR is on a Tear Despite Continuing Doubts Over Privacy Coins

Regardless of the uncertain future for privacy coins, both the dollar and BTC price of Monero has been on a tear lately.

Sunday saw the price of XMR stop short of $150, another all-time high, before quickly retracing. Currently, XMR is up 2.5% on the day to $129.51.

Monero daily chart

Source: XMRUSDT on TradingView.com

By the same token, while most other altcoins are down against Bitcoin, Monero managed to reach an all-time high against BTC on Sunday, peaking at ₿0.011822.

As such, despite the threat from the IRS, many Monero investors remain confident in the protocol. And considering the recent price moves, this is a sentiment that is spreading.

Tweet123Share196ShareSend
Samuel Wan
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

crypto φάλαινα trump bitcoin

Crypto φάλαινα συνδεδεμένη με τον Trump επενδύει ξανά: Short $76 εκατ. στο Bitcoin με μόχλευση 10x

Μια crypto φάλαινα, γνωστή στην κοινότητα ως “Trump insider” για τις εξαιρετικά επιτυχημένες κινήσεις της στην αγορά, επέστρεψε στο προσκήνιο...

Ιωάννης Ριζόπουλος 3 hours ago
Solana

Solana Co-Founder Ventures Into Perpetual DEX Development: What You Should Know

Anatoly Yakovenko, co-founder CEO of Solana Labs, has unveiled plans for a new decentralized exchange (DEX) named Percolator, designed as...

Ronaldo Marquez 3 hours ago
fed usa Crypto conference

Έκπληξη από τη Fed – Επίσημο συνέδριο για τα κρυπτονομίσματα ανακοινώθηκε στις ΗΠΑ

Μια απροσδόκητη ανακοίνωση από τη Federal Reserve (Fed) προκάλεσε αναταραχή στις αγορές και έντονο ενδιαφέρον στον χώρο των ψηφιακών περιουσιακών...

Ιωάννης Ριζόπουλος 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Биткоин

«Дешевый» биткоин ниже $90 000?

dariajz 1 hour ago
Ethereum Price Looks Tired

Here’s What Happens To The Ethereum Price If Bullish Momentum Holds

Scott Matherson 2 hours ago

Weex lancia un bonus del 50% sul primo deposito, in linea con la crescita del mercato delle criptovalute

Maria Giovanna Ambrosio 2 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨おすすめ:政府閉鎖で注目高まるCPI発表と次回利下げを巡るFRBの動き

    ...

    20 hours ago
  • ドージコイン 今後の価格予測:0.86ドル到達の可能性、次世代ミームトークンが10倍成長か

    ドージコイン...

    20 hours ago
  • リップル 今後 に注目:オプション市場の強気転換が示すBTC・ETHからXRP・SOLへの資金移動

    リップル 今後...

    20 hours ago
  • 新しい仮想通貨が急上昇:レイヤー2プレセールで2,500万ドル目前

    ...

    21 hours ago
  • コインベース市場回復前に注目すべき仮想通貨プレセール銘柄

    ...

    21 hours ago

Newsletter

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.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 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.