Monero
Why Monero is down 1.0% in the last hour
Analysis
Monero (XMR) slipped about 1.0% over the past hour as traders digested reports of near-term selling pressure even while on-chain usage remains strong. CoinJournal specifically flagged short-term selling pressure, which likely weighed on price in the immediate window, while Cointelegraph noted that XMR demand is holding up despite exchange delistings as some darknet markets shift toward Monero—supportive for usage but not necessarily enough to offset short-term selling.
Contributing Factors (2)
Monero use holds despite delistings as darknet markets shift to XMR
TRM Labs says Monero usage remains above pre-2022 levels as darknet markets shift toward XMR, while unusual node behavior may offer investigators network-level clues.
Monero faces short-term selling pressure despite strong on-chain activity
Monero (XMR) faces short-term selling pressure below key moving averages. On-chain activity remains strong despite exchange delistings. Support lies at $300 while the immediate resistance sits near $3...
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.