Cryptocurrency Monero Up More Than 4% In 24 hours
Portfolio Pulse from Benzinga Insights
Monero (XMR) has seen a 4.66% increase in price over the last 24 hours, reaching $166.39, continuing a positive trend with an 8.0% gain over the past week. Despite a decrease in trading volume by 16.0% and a 0.9% reduction in circulating supply to 18.15 million, Monero's market cap is ranked #30 at $3.03 billion. The volatility of Monero's price has been illustrated using Bollinger Bands in the provided chart.
January 29, 2024 | 3:00 pm
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Monero (XMR) has experienced a significant price increase of 4.66% in the past 24 hours and an 8% increase over the past week, with a current price of $166.39. The trading volume has decreased by 16%, and the circulating supply has slightly decreased by 0.9%, with a current market cap of $3.03 billion.
The positive price movement of Monero (XMR) indicates strong market performance, which is likely to attract investor attention and could lead to a short-term increase in its price. The decrease in trading volume could be a sign of consolidation after recent gains. The slight decrease in circulating supply might be viewed positively as it could imply a lower level of inflation for the coin. The market cap ranking provides additional context to the asset's relative size and stability in the cryptocurrency market.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100