Monero
Why Monero is up 4.8% today
Analysis
Monero (XMR) rose 4.8% over the past 24 hours amid reports of a sharp spot move tied to large on-chain activity: CoinDesk said XMR prices “rocketed” as roughly $120 million was routed through a laundering maze involving Monero, with subsequent action including a Tether freeze of funds. Separately, CryptoPotato’s market watch noted Monero jumping strongly alongside broader crypto strength as Bitcoin eyed a move back toward $63K, supporting sentiment across the market.
Contributing Factors (2)
Bitcoin (BTC) Eyes $63K Again, Monero (XMR) Jumps by Double Digits (Market Watch)
BEAT continues to steal the show, posting another massive surge of over 50% in the past 24 hours.
Monero prices rocket to $438 amid $120 million onchain laundering maze
Onchain sleuth ZachXBT traced remaining funds across exchanges, instant swap services and other blockchains. Tether later froze $72 million in USDT linked to the activity.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.