However, at least one crypto project has been bucking that trend with a clear and consistent upward trajectory.
In 2014, a group of several developers came together with a focus on developing a blockchain-based project where the top priority was anonymity and privacy — followed by efficiency and ease of use.
The AEC class of digital assets are unlike other cryptocurrencies because the privacy coins rely on an array of cryptography tools to cloud the wallet addresses of the receivers and senders of respective AECs.
The Monero website states that the project is focused on decentralization, security, and privacy.
Regardless, many law-abiding crypto users like the idea of anonymous autonomy, which is the most likely driver of this surge in XMR as people are buying up the coin before it potentially gets blocked or banned.
In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before.
Given the trending macro conditions, the growing desire for privacy within the crypto space among users, and Monero’s low market capitalization of $4.6 billion, this project has a lot of potential — that is unless governments band together to ban this crypto.
To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2022.
Tor Constantino is a corporate communications executive and business writer with an MBA.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.