{"id":75828,"date":"2025-05-05T07:00:15","date_gmt":"2025-05-05T07:00:15","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/75828\/"},"modified":"2025-05-05T07:00:15","modified_gmt":"2025-05-05T07:00:15","slug":"moneros-explosive-surge-rising-privacy-concerns-or-just-market-manipulation-by-prakash-bhudia","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/75828\/","title":{"rendered":"Monero’s explosive surge: Rising privacy concerns or just market manipulation?: By Prakash Bhudia"},"content":{"rendered":"

Monero (XMR), the crypto world\u2019s top privacy advocate, stunned traders on Monday with a remarkable 50% leap – an eye-watering
\n 21% spike within just one hour.<\/p>\n

<\/a><\/p>\n

Source: Deriv X<\/p>\n

As analysts scrambled to identify the catalyst behind Monero’s dramatic surge, social media erupted with speculation, humorous
\n memes, and theories ranging from institutional panic-buying to increased privacy concerns – or perhaps something more questionable.<\/p>\n

Bitcoin hack fuels the fire<\/strong><\/p>\n

Adding intrigue, blockchain analyst\u00a0 ZachXBT\u00a0disclosed
\n a significant crypto mystery involving over 3,520 Bitcoin (BTC) – approximately $330.7 million – swiftly converted into Monero via multiple rapid exchanges. Monero\u2019s renowned privacy protocols made it the perfect, albeit costly, option for hackers aiming to
\n conceal their activity.<\/p>\n

Interestingly, converting such a substantial amount of BTC into XMR likely led to significant market “slippage,” where transactions
\n move prices unfavorably. Traders estimate the hackers may have inadvertently lost up to $66 million due to this liquidity squeeze. A costly cover-up, indeed.<\/p>\n

Futures market frenzy raises red flags<\/strong><\/p>\n

Simultaneously, the derivatives market erupted with activity. Open interest for Monero futures surged unexpectedly, reaching
\n $35.1 million – far exceeding usual levels.<\/p>\n

<\/a><\/p>\n

Source: Coinglass<\/p>\n

Curiously, around $11 million was already positioned ahead of Monero’s price spike, sparking suspicion about possible market
\n manipulation. Seasoned crypto traders pointed to echoes of previous schemes, notably the infamous Mango Markets incident, where savvy traders exploited markets for substantial profit.<\/p>\n

Privacy coin popularity: Monero vs. Zcash<\/strong><\/p>\n

Despite this volatility, privacy coins such as Monero and Zcash (ZEC) remain attractive to investors prioritizing anonymity.
\n Monero\u2019s uncompromising approach mandates total privacy, catering to users seeking absolute discretion. In contrast, Zcash offers selective anonymity, providing flexibility to its users.<\/p>\n

Future prospects for privacy coins are increasingly positive. Changelly forecasts Monero\u2019s value could surge beyond $500
\n by 2027 – a compelling 167% increase from today\u2019s price near $194. Meanwhile, Zcash, boosted by recent updates and market sentiment, shows significant promise, with CoinCodex projecting prices between $7.26 and $39.38 by 2030.<\/p>\n

Whether driven by genuine privacy demands or darker market exploits, Monero\u2019s latest rally underscores crypto\u2019s enduring
\n drama.<\/p>\n

Monero technical outlook: Ready to jump into privacy coins?<\/strong><\/p>\n

Suppose this rollercoaster has you thinking about joining the privacy crypto bandwagon.\u00a0<\/p>\n

At the time of writing, XMR is holding at a critical resistance level of $274.48, and the daily chart shows a bullish bias.
\n The 9-ema moving average crossing above the 21-ema moving average adds to the bullish narrative. However, the volume bars contracting indicates that the buying pressure is waning – hinting at a potential reversal.<\/p>\n

<\/a><\/p>\n

Source: Deriv X<\/p>\n

Disclaimer\u00a0<\/p>\n

The information contained within this article is for educational purposes
\n only and is not intended as financial or investment advice.<\/p>\n

The performance figures quoted refer to the past, and past performance
\n is not a guarantee of future performance or a reliable guide to future performance.<\/p>\n

The information may become outdated.<\/p>\n

We recommend you do your own research before making any trading decisions<\/p>\n","protected":false},"excerpt":{"rendered":"Monero (XMR), the crypto world\u2019s top privacy advocate, stunned traders on Monday with a remarkable 50% leap –…\n","protected":false},"author":2,"featured_media":75829,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3091],"tags":[3670,3427,3210,3674,51,3678,3677,3676,3671,474,3240,3668,3672,13,3680,1197,3673,2998,2441,547,12,3669,3209,3679,363,1199,326,53,1201,3675,16,15],"class_list":{"0":"post-75828","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bank","9":"tag-banking","10":"tag-blockchain","11":"tag-breaking","12":"tag-business","13":"tag-challenger","14":"tag-digital","15":"tag-execution","16":"tag-fin","17":"tag-finance","18":"tag-financial","19":"tag-finextra","20":"tag-fintech","21":"tag-headlines","22":"tag-insurtech","23":"tag-investment","24":"tag-it","25":"tag-latest","26":"tag-markets","27":"tag-mobile","28":"tag-news","29":"tag-online","30":"tag-payments","31":"tag-regtech","32":"tag-retail","33":"tag-services","34":"tag-tech","35":"tag-technology","36":"tag-trade","37":"tag-transaction","38":"tag-uk","39":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114453939684512285","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/75828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=75828"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/75828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/75829"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=75828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=75828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=75828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}