XMR Explodes Past $350: Is Monero Finally Back?

Monero (XMR) just hit a price point it has not seen since mid-2021, passing $346 earlier today. This move has the privacy-focused cryptocurrency up more than 150% year-over-year, making it one of the stronger performers among mid-cap digital assets this cycle.

What’s behind Monero’s (XMR) price rise?

Researchers say part of that growth is due to a shift in the U.S. regulatory tone. The FIT21 crypto bill is picking up steam, and the SEC is taking a step back from labeling privacy coins as securities. This change is leading to more money flowing back into assets like Monero—ones that had been in regulatory limbo.

Additionally, there is excitement building around Monero’s upcoming FCMP++ upgrade designed to improve quantum resistance and keep older transactions protected. With major exchanges also considering relisting XMR, heightened interest could propel the price even further.

In the current crypto landscape, where privacy and security are paramount, Monero stands out. The market cap is now at $6.38 billion, and with 18.44 million coins in circulation, Monero is positioned for significant growth.

With the attention it’s garnering, the future looks promising for XMR. So, if you’re considering converting USDT to XMR, now might be the time to pay close attention.