Monero address activity has skyrocketed

by in Cryptocurrency News

Monero

Twitter users have noticed a sharp increase in addresses on the Monero network (XMR).

According to BitinfoCharts, the number of daily transactions on December 7 exceeded 22,000. This is the highest figure in the entire history of the blockchain.

For 12 months, the transaction activity of Monero addresses has grown significantly. In 2019, the average number of transactions on the network was less than 10,000 per day.

Altcoin price is also adding up now. At the time of publication of this review, the XMR rate rose to $ 138 (+ 5%). Cryptocurrency capitalization increased to $ 2.442 billion.

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The coin was last traded for around $ 140 in the summer of 2018. From the top 20 cryptocurrencies on the night of Tuesday, December 8. only Monero is trading in the green. Some observers predict that the coin will surpass $ 150 over the next few hours.

In mid-October 2020, the developers successfully activated the Oxygen Orion fork. The team's blog said that thanks to the integration of the CLSAG option, the transaction processing speed increased by 10%. In parallel, services have been improved to ensure user anonymity.

What is the reason for the last surge in the activity of addresses on the network is still unknown. However, if you pay attention to the data of the LocalMonero portal, you will notice that on December 6, each block in the network accumulated more than 37 transactions. Moreover, this number does not include Coinbase operations related to XMR miners.