Can Monero reach $10000? – Spaxton School

Latest Monero Price

Monero Price Performance so far

Monero crashed on Tuesday after the announcement that Binance would delist the privacy token Monero. What are the Signals and Predictions?

XMR should receive some support at $142 and $132. However, the long-term trend which has been steady since May 2022 is likely to deteriorate going forward. XMR could fall below $100 this year if the support levels at $132 and $120 do not hold this month.

UTC: Feb 26th, 2024 06:09 AM

• XMR Monero Price Prediction in the next 24 hours is between $113 and $122
• XMR Monero Price Prediction this week is between $110 and $125

Monero Price Prediction $1000: Can Monero reach $1000?

Yes, Monero can easily reach $1000 if concerns around misuse around addressed.

To reach $1,000, Monero must rise 6-7x. At $1000 Monero’s Market cap would be $18 Billion. If XMR were to rise 25% every year, it would take it 9 years to reach $1000.

However, Monero hasn’t performed well over the last 12 months and made very little progress over the last 18 months. So the future looks bleak.

However, if Monero resolves some of those issues, it could rise to $1000 quickly.

Monero Price Prediction 2024-2025-2030

• XMR Monero Price Prediction 2024 is $234
• XMR Monero Price Prediction 2025 is $398
• XMR Monero Price Prediction 2026 is $596
• XMR Monero Price Prediction 2027 is $783
• XMR Monero Price Prediction 2028 is $1082
• XMR Monero Price Prediction 2029 is $1626
• XMR Monero Price Prediction 2030 is $2382

Monero Price Prediction: Is Monero a Good Investment?

Monero is a decentralized, open-source cryptocurrency created in 2014 by a group of developers who sought to provide users with greater privacy and security than Bitcoin and other digital currencies. Monero uses an innovative protocol called CryptoNote to ensure that transactions cannot be traced or linked back to their origins.

• Monero uses stealth addresses and ring signatures to obscure this information. This means that transactions on the Monero blockchain cannot be easily traced or linked back to their sources, providing users with a high degree of privacy and anonymity.
• Monero is entirely decentralized and operates on a global network of computers and nodes. This means that no single entity has control over the network, making it more resistant to censorship, hacking, and other forms of interference.
• Monero has also gained popularity for its use in the dark web and other online marketplaces. Because it offers a high degree of anonymity and is not easily traceable, Monero has become a popular currency for buying and selling illicit goods and services on these platforms.
• It is used for privacy-sensitive transactions, online gambling and gaming, e-commerce, and cross-border remittances.
• Unlike other categories like DeFi, Payments, and Transfers continue to perform well, Monero has been steady despite an overall fall in the Crypto market

Advantages of Tokens like Monero

• Given its steady value, store of value (in secret)
• Illegal transactions

There are 667 markets and shops that accept Monero

While operating in a narrow category, XMR has delivered healthy returns over the last 5 years including 2022. The main risk is the token could be banned.

Monero Partnerships

Monero is partnered with Merchants (such as cryptowerk.com and acceptedhere.io) and exchanges (such as Bisq, Local Monero, Hodl Hodl, Kraken, Binance, SimpleSwap, and Morph token).

The sponsors of Monero include Tari Labs, Majestic Bank, Fork Networking, Mac Stadium, Cake Wallet, and Symas.

Monero Use Cases

The following are the primary use cases of XMR tokens:

• Monero tokens can be used for merchant payments for various categories (including shops, markets, tourism, traveling, and internet services).
• Users can use their XMR tokens to swap with other cryptocurrencies by using P2P exchanges and atomic swaps.
• XMR tokens can be staked to earn rewards.

Read about Luna Price Prediction

Where to buy Monero?

• Kraken
• Binance
• Bitfinex

Can Monero Make You Rich?

Investing in cryptos is a long-term game. Monero has been the victim of hacking a couple of times. It has been investigated by US authorities regarding the token being used on the dark web more frequently.

XMR however, will not make you rich if you are thinking of a short-term investment. To make a fortune out of XMR investment, an investor needs to have a long-term plan.

Also Read: Render Token Price Prediction and Fetch.ai Price Prediction

Note:  collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Coins. Please consult a registered investment advisor to guide you on your financial decisions.