Monero [XMR] drops down to 13th position – failed to prove its potential

Monero [XMR] is currently priced at $195.22 and has a market cap of $3.127 billion. It has a market supply of 16.02 million and an overall volume of $45.93 million in the past 24 hours. The coin has declined by 19.94% in the past 7 days.

7-days graph of XMR

7-days graph of XMR

The coin has been beaten by an underdog coin Dash which has a market cap of $3.12 billion as of 12th may 2018. Monero reached a dangerously low level of $3.12 billion market cap.

Many experts speculate that the mining malware caused the downfall of Monero as many of the investors stepped away from the coin due to security reasons. The malware was creeping around 400 websites and used illegal activities for mining XRM.

Monero got a new wallet known as XMRwallet which would allow faster and smoother transactions and keeps the identity of the client anonymous. The wallet is compatible with MyMonero and can support over 10 different languages. The major blockchain company Circle also added Monero to its platform.

Kenny a Reddit user says:

“For you own sake, always trust your coin. There may be times where it may look like the coin may fall off from the face of this planet, but these types of things are like commonn in the cryptospace, so investors need not freak out over things like these.”

A crypto enthusiast says:

“Monero prices are dropping continuously. I think it’s a good idea to buy them at the current price.”

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