Monero
Why Monero is up 1.0% in the last hour
Analysis
Monero (XMR) edged up ~1% over the past hour as traders reacted to reports that XMR spiked amid a high-profile on-chain laundering trail, highlighting renewed attention and activity around the privacy coin. CoinDesk reported that roughly $120 million moved through Monero in a “laundering maze,” with follow-on actions including Tether freezing funds, which likely boosted near-term interest in XMR.
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
Moderate confidence. Multiple factors may be contributing.