Should I Buy Monero After The Atomic Swap? Invezz – CVBJ

Monero XMR / USD is a cryptocurrency focused on privacy and anonymity. Basically, it allows users to send and receive transactions without making the data available to anyone examining the blockchain itself.

The implementation of Atomic Swap as a catalyst for growth

On August 20, Monero announced that the Atomic Swap implementation, which was developed by the COMIT team, has reached sufficient maturity to be used on the Monero network.

Looking for quick news, tips, and market analysis? Sign up for the Invezz newsletter today.

Initially, manufacturers have to buy Bitcoin, while buyers have to buy Monero. However, anyone has the opportunity to become a marker or a receiver.

That being said, after this atomic swap launch, XMR saw an increase in value.

This recently introduced technology allows users to trade BTC and XMR without relying on any third party, such as a cryptocurrency exchange.

There can only be two outcomes, either the trade is completed successfully and each trader gets the funds from the other, or nothing happens, and they both keep the funds they started with.

Should you buy Monero (XMR)?

On August 24, Monero (XMR) was worth $ 320.

To get a perspective on this price, we will compare it to its all-time high, as well as its performance throughout July.

In terms of the highest value of all time, it was $ 542 and occurred on January 9, 2018. This made it 69% higher in value.

Its lowest point occurred on July 20 with a value of $ 179 dollars, while its highest point was on July 31 with a value of $ 247 dollars. This marked a growth of 38%.

In any case, the value of August 24 is still 30% higher than the value of July 31, a growth initiated by the Atomic Swap Implementation.

Monero focuses on privacy and Atomic Swap is this new way of exchanging two cryptocurrencies without relying on a third party, such as an exchange or a company.

You can trade without the need to trust the person on the other side of the exchange and as such we may see a massive increase in their use.

This update has greatly increased the value of the token and it is clear that it shows no signs of stopping.

With this being the case, Monero (XMR) has the potential to hit $ 400 by the end of September, making it a worthwhile purchase.

Invest in cryptocurrencies, stocks, ETFs, and more, in minutes with our preferred broker, eToro


67% of retail CFD accounts lose money