Monero
Why Monero is down 4.4% today
Analysis
Monero (XMR) fell 4.4% over the past 24 hours as privacy-coin sentiment was pressured following comments from Cardano founder Charles Hoskinson that its upcoming Midnight protocol “won’t chase Monero, ZCash users,” signaling it isn’t targeting a direct migration of established privacy-coin communities. The remarks, reported by CoinDesk, may have reduced expectations of incremental demand or ecosystem tailwinds for XMR tied to Midnight-related narratives.
Contributing Factors (1)
Cardano founder Charles Hoskinson says Midnight won't chase Monero, ZCash users
Midnight will target "billions who don't know they need privacy" rather than privacy maxis as mainnet launch nears in March, he said.
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.