Monero
Why Monero is up 6.5% today
Analysis
Monero (XMR) rose about 6.5% over the past 24 hours amid a privacy-coin narrative boost after Cardano founder Charles Hoskinson said the upcoming Midnight protocol “won’t chase Monero, ZCash users,” signaling it isn’t positioning itself to directly compete for XMR’s core privacy-focused user base. That comment may have eased competitive pressure concerns and supported sentiment toward established privacy coins like Monero.
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
High confidence in the explanation based on source reliability and timing.