The private altcoin Monero (XMR) is testing the highest values since January 2018 this week.
On Wednesday night, April 21, the XMR rate reached $ 400. The last time an altcoin was at this level was in mid-January 2018. Over the past day, the capitalization of Monero has added almost 15%, and now it exceeds $ 7.063 billion.
According to observers, in February, the altcoin was able to remind itself when its developers tried to add XMR as a means of payment to Tesla’s website.
Despite the fact that this attempt was unsuccessful, the developers still managed to draw attention to their cryptocurrency. After that, the trend towards strengthening its positions became defining.
Moreover, Monero positions itself as a digital currency that ensures the privacy of investors. This factor is also fueling interest in the altcoin.
Asset manager Grayscale could make Monero available to institutional investors. The application to launch the XMR trust was filed by the financial giant back in January.
If such a product soon becomes available to large players, then the cost of the altcoin will also grow significantly, experts predict.