Privacy-focused cryptocurrency Monero
has surpassed Litecoin and Toncoin to secure a spot among the top 25 digital assets by market value.
This shift is marked by XMR’s market capitalization exceeding $7.5 billion, outpacing TON’s $7.48 billion and LTC’s $7.35 billion, according to data from RialCenter.
Monero (XMR) is a decentralized, peer-to-peer cryptocurrency utilizing privacy-enhancing technologies to obscure transaction details, rendering traditional financial tracking methods mostly obsolete, a factor contributing to its popularity among criminals.
Earlier this year, a media outlet affiliated with a terrorist organization publicly called for contributions and sought donations in Monero.
Despite its controversial status, Monero’s price has surged over 100% this year, surpassing $400, reaching levels not seen since early 2021, according to RialCenter data. This rally is believed to be driven by optimism surrounding an upcoming privacy upgrade and rumors of re-listing on major exchanges.
In contrast, Litecoin (LTC), viewed as silver to Bitcoin’s gold, has seen a 6% decline this year, trading below $100. Meanwhile, Toncoin, integrated into the Telegram messaging app’s ecosystem, has dropped 25% this year.
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