Monero Outperforms Bitcoin In The Latest Bull Rally

Monero outperforms Bitcoin in the latest price bull rally when the BTC price started to increase against the USD. Bitcoin was going well against most of the cryptocurrencies except for Monero. While the cost of the number one cryptocurrency increased by 2% in the past seven days, Monero increased by more than 6% at the same time.

XMR is now up by more than 6 percent against the USD, which means Monero outperforms Bitcoin, and we are reading more about the reasons in the latest monero news.

There are many reasons why the XMR price outpaced Bitcoin a few days ago. For example, the development community released a new update for its Carbon Chameleon Software, and with the latest update, the XMR transactions will be faster and more efficient. This is expected to change the way Monero’s blockchain interacts with Tor and 12P for its private networks. The blockchain gained a lot of attention over the past few weeks from popular members within the crypto community. The CEO of Coinbase Brian Armstrong, commented about the importance of privacy and stated:

 “I think we’ll also see privacy integrated into one of the dominant chains in the 2020s. Just like how the internet launched with HTTP and only later introduced HTTPS as a default on many websites, I believe we’ll eventually see a privacy coin or blockchain with built-in privacy features that get mainstream adoption in the 2020s. It doesn’t make sense in most cases to broadcast every payment you make on a transparent ledger.”

Currently, the only blockchain that provides this privacy level is Monero. John McAfee even commented that Monero is one of the top tokens to hold along Bitcoin. He even said that the technology behind bitcoin is old and that Monero has technological superiority over bitcoin:

 “Newer blockchains have privacy, smart contracts, distributed apps and more. Bitcoin is our future? Was the Model T the future of the automobile?”

While the price of XMR outperformed Bitcoin, the token is correcting lower against the USD right now after the bull run. The price of Monero was $53.91 at the time of writing, meaning it got down by 0.80% and down by 0.50% against Bitcoin. The trading volume of XMR is $155,566,289 and the market capitalization is $944,001,037.