What’s Fueling This Rally?|Live Bitcoin News
The post What’s Fueling This Rally?|Live Bitcoin News appeared on BitcoinEthereumNews.com.
Monero price is up 6 percent with the introduction of perpetual swaps on Hyperliquid. The demand for privacy coins increases following the push of Bitcoin to $85K. Trade volume increases by 13 percent, which indicates real momentum. Today, Monero is leading in crypto markets as others are struggling. The XMR price is trading around 431, which is 6% up. The volume of the trading increased by more than 13 percent, indicating actual market interest. This rally is a result of several catalysts interacting. The current price action is driven by perpetual access to trading, increased privacy demand, and an enhancement in the network. You might also like: Altcoin News: Monero (XMR) Dips to Test Key Support – Could This Pattern Trigger a Bounce Back? Perpetual Swaps Bust Trading Barriers. XMR perpetual swaps were launched on Hyperliquid. Traders can now bet on the price without access to the spot. This will be important to an asset that has been delisted off key exchanges. XBToshi on X says that they can block the spot ramps, but they cannot block the price discovery. XBToshi announced that XMR Perpetual Swaps are live on Hyperliquid through a permissionless HIP-3 deployment. Source – XBToshi The volumes of trading went up after the launch. There was a backlog of XMR trading in the market. This third-party perpetual market was implemented by Felix Protocol. Early trading is characterized by low liquidity and high risk. Privacy Demand is an Uncertainty Minimizer in the Market. The shift of Bitcoin towards the 85,000 milestone turns the focus to privacy coins. During periods of uncertainty, investors are often interested in fungible and privacy-oriented assets. The fact that the volume has risen confirms that traders have entered XMR. Recently, the efficiency and privacy of Monero networks were enhanced by upgrades. The process of…
