Monero Price Pushes Above $500 as Privacy-driven Focus Intensifies
Key Insights:
- Monero price pulls off 46% plus rally in August, making it the most bullish month since April 2021.
- XMR open interest approaches its historical high, accompanied by a spike in positive funding rates.
- THORChain’s native Monero support could improve XMR accessibility while reinforcing growing demand for privacy-focused cryptocurrencies.
Monero (XMR) price extended its rally into the weekend while most top coins faced declining momentum. The privacy coin has been one of the most bullish cryptos, having started its current rally in July.
Monero price just kicked off Sunday’s trading session with a push above $500. XMR has been on a streak of green weekly candles for the last 7 weeks and is up over 46% since the start of August.
The last time that Monero price delivered such a bullish month was in April 2021. It exchanged hands at $521 at press time, up over 11% in the last 24 hours.
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