Monero
Why Monero is up 1.0% in the last hour
Analysis
Monero (XMR) rose about 1% over the last hour as buyers appeared to defend the $290 area, helped by reports of whale accumulation (a whale adding ~7K XMR), which can support short-term upside momentum. Separately, coverage noting that Monero usage/demand has held up despite exchange delistings likely reinforced sentiment that on-chain activity remains resilient even amid intermittent selling pressure.
Contributing Factors (3)
Monero defends $290 as whale adds 7K XMR – Breakout brewing above THIS?
Whale accumulation collides with heavy leverage as volatility tension builds.
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...
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.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.