Monero (XMR) was once dubbed the top privacy coin; however, it seems that XRM met media silence since there wasn’t much activity going around Monero for the past couple of months. Monero did publish a wallet update more than a month ago, but it seems that the team behind XRM values modesty over publicity, as neither did their latest upgrade gained the perhaps needed media attention. Whatever the case, Monero has announced their latest upgrade called Lithium Luna. Besides from updating their digital wallet and releasing Ledger Nano S, which is a hardware wallet for storing XRM, Monero went through some serious changes, followed by ano0ther listing.
Monero and the Latest Updates
A little bit over than a month ago, Monero has surprised the XRM users with a new wallet. Since then, there has been another wallet upgrade that came almost a week ago, on June 4th, when the team behind XRM announced that their Ledger Nano S hardware wallet has just become available along with the latest client version called Lithium Luna.
Since there has been a new update for the XRM wallet, the team behind the privacy coin had to modify the system in order for the new wallet to make a perfect fit for Monero ecosystem. That is how the humble team of Monero decided to update the system as well, providing their users with more than a digital wallet.
The new client version 0.12.2.0 has become available for the public, although the team announced that the initial GUI binary codes will become available with the next week, which should be any day now at the time of this writing. The GUI binary codes should come as a backup for the new GUI design, which means that the users will most probably get introduced with a completely new design of the platform in several days. However, it is not confirmed whether there will be a rebranding of the design, although it is confirmed that the users will be able to use a more user-friendly ecosystem with the latest updates.
Moreover, the team has made this privacy coin a little more private as it has changed and tweaked their Proof-of-Work, which means that they have taken a step further for preventing ASIC miners from attacking the network in form of DOS attacks.
Many analysts consider that Proof-of-Stake protocol makes up for a much safer system for protecting a blockchain network, whether Proof-of-work leaves some room for potential SHTF scenarios where a hacker attack might take place. Although Monero didn’t switch their protocol to PoS, they have taken a further action into integrating a minor change into their PoW protocol, which additionally protects the network from DOS attacks. Lithium Luna had over 1600 commits over the time of its development, while there were over 80 developers working on the new updates. After announcing the new updates while releasing the new client version for the XRM users, the public had a chance to catch up with yet another interesting announcement that followed up.
Apparently, Monero has had a new listing.
Monero and Huobi Pro
After the announcement of having Lithium Luna released on June 4th, there came another great announcement for Monero and XRM users.
This time, Monero has gained a new chance for strategically increasing its visibility in the market, given the fact that Huobi just got it listed on their exchange platform. Huobi is known for having a billion dollar worth of trading volumes with short periods of only 24 hours, so having XRM listed on this exchange might consequently sky-rocket it back to its record price.
So far, XRM has set its record price back in January 2018 when the majority of currencies were setting their all-time highs while having Monero reaching a personal record of over 430$ per one unit. Now, Monero is down by nearly -7% at the time of the writing which makes it tradable at the price of 147$ per one XRM.
Despite getting a listing on Huobi Pro, Monero seems to be suffering from Getting delisted from two exchanges from Japan and South Korea, which seem to have decided to delist all privacy coins the same way they have enlisted them. That is how Monero wasn’t the only privacy coin to leave Korbit and Coincheck, as the two exchanges have also delisted Dash and ZCash alongside with XRM.
Monero might have lost two strategic listings; however, Huobi Pro might be able to pull out a smooth return in the market for XRM in the following weeks.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.