Monero has updated the maximum of 2022
Cryptocurrencies with increased anonymity have received a significant boost this year due to the ability to hide both the transfer participants and the transaction amount. So, since the February lows, Monero has almost doubled and updated the maximum of 2022.
Monero uses ring signatures, and each participant can sign a transaction on behalf of the group.
Due to constant mixing, it is impossible to establish who signed the transactions, as well as who sent the funds to whom.
Due to the inability to track the movement of funds back in 2020, a number of cryptocurrency exchanges, under pressure from financial regulators, delisted Monero and other anonymous coins. However, this did not greatly affect both the popularity and the cost of Monero.
Over the past two years, the number of transactions on the network has grown from 10 thousand per day to 40 thousand, and 15 billion transactions have been conducted.
Another factor supporting the price is the steady decline in emissions: from 1.38 XMR per block in 2020 to the current 0.69 XMR. This is close to the tail issue (the minimum amount of remuneration for mining) of 0.6 XMR.
Over the weekend, the community came to a consensus regarding the hard fork on July 16, in particular, the number of ring links will increase from 11 to 16, which will increase the degree of anonymity. Reaching consensus is an important stage in the modernization of each network, since it allows you to develop without splitting the blockchain (such as BTC and BCH, ETH, ETC.).
The growth of geopolitical tensions and excessive pressure from individual supervisory authorities have increased the demand for anonymous coins. Monero is likely to continue its bull run this year, despite the general correction of the cryptocurrency market.