Monero
Why Monero is up 2.6% in the last hour
Analysis
Monero (XMR) rose 2.6% over the past hour after CoinDesk reported a sharp spike in XMR tied to a “$120 million onchain laundering maze,” which appeared to drive heightened demand and trading interest in the privacy coin. The same report noted Tether froze $72 million, adding to market focus on transaction censorship vs.
Contributing Factors (1)
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.