Author: changehero
March 16, 2022

Recent news makes investors concerned about the influence governments can exert over one’s assets, and privacy coins are rallying. As the most prominent anonymous cryptocurrency, Monero was not left behind. Let’s see what Monero price prediction 2022 and beyond is in this new landscape. Monero Price Prediction 2022-2030 [table id=46 /] Monero price prediction 2022 […]

Monero Price Prediction 2022, 2025, 2030

Recent news makes investors concerned about the influence governments can exert over one’s assets, and privacy coins are rallying. As the most prominent anonymous cryptocurrency, Monero was not left behind. Let’s see what Monero price prediction 2022 and beyond is in this new landscape.

Monero Price Prediction 2022-2030

[table id=46 /]

  • Monero price prediction 2022 is uncertain to the point that the range of possibilities is as wide as from $97 to $8,433;
  • According to the forecasts, by 2025 XMR can eventually grow up to $4,421;
  • At the end of the decade, in 2030, XMR is predicted to trade for somewhere between $501 and $3,542.

What is Monero (XMR)?

Monero is a cryptocurrency protocol that by default masks information about the transaction participants and amounts. It does so using cryptographic techniques such as ring confidential transactions, which eliminate the need for the ledger to publish information openly.
Over the years hundreds of developers have contributed to the codebase, which was originally based on the CryptoNote protocol described by Nicolas von Saberhagen. To this day, Monero does not have a foundation or a corporate entity backing it, it is run purely by the community effort.
XMR is the ticker that the cryptocurrency uses. The coin is mineable with CPUs, and each new block rewards approximately 0.88 XMR plus transaction fees.
For more information on Monero’s origins, present and prospects, read our Beginner’s Guide to XMR.

XMR Price History

XMR Price in 2014-2018

As a community-run coin, Monero had a fair launch without a premine or presales. The market was shaping the price of XMR from the very start.
All the way back in 2014, it was traded for a price slightly above $2. By 2015, it was worth ten times less, and barely crossed the threshold of $0.5.
The first significant rally for XMR started in 2016. In September, it reached a record $12 for that time.
By 2017, it rose to $13 at the start of the year and skyrocketed to $469.2 in December. A correction followed in 2018, and by the end of the year it was down at $46.23, losing almost 90%.

XMR Price in 2019-2020

During the crypto winter of 2019, XMR did not stay suppressed and tried to break out. In mid-2019, it even rallied to $117.
2020 started at a slightly lower point than 2019, $45.5, and XMR’s breakout was halted by a March crash. However, later in 2020 it entered an ascending channel and joined the bull run.
By the end of 2020, XMR was worth $156.57 but it was far from the end of the rally.

XMR Price in 2021-2022

In 2021, the rally continued and culminated in May, when XMR reached its ATH $517.62 on May, 07. The following correction was sharp, and bulls did not return to XMR for the second leg up.
In 2022 so far, XMR is on the downside, having started at $234 and going down since. At the moment of writing, the XMR price is $185.34 and it ranks 37th by market capitalization on CoinMarketCap.

What Influences the Price of Monero?

Adoption

Monero has a reputation that comes with its privacy coin status, and is used accordingly. It is both touted as an answer to total surveillance and scorned as a cryptocurrency that enables illicit use.
Among the things that caused users to show more attention to Monero are Biden’s executive order to regulate crypto assets, Canadian vaccine mandate protests and sanctions on Russia placed after its invasion of Ukraine.
All these events are characterized by the anxiety over governments being able to freeze and seize assets of individuals. Some traders went to secure their holdings in untraceable Monero.

Protocol Updates

Generally speaking, protocol updates have a positive impact on the price of an asset. Improving usability and stability can extend the impact beyond the moment of announcement and anticipation.
However, in Monero’s case, the protocol has not had significant upgrades in a while. The latest feature that was close to generating interest is atomic swaps, and its XMR-to-BTC specification was released in August 2021.
On the one hand, it is reasonable that the community does not use constant announcements just to generate hype and focuses on building the project. On the other hand, it is hard for a decentralized team to consistently ship upgrades and maintain developer consensus, hence the slow growth.
In 2022, the features in the pipeline are Triptych, RingCTs for applications, return addresses and second layer solutions.

Listings and Delistings

As far as trading goes, having diverse markets and arbitrage opportunities usually has a positive impact on price movements. In the case with privacy coins, it is slightly more complicated.
Centralized exchanges are not very likely to list privacy coins due to regulatory concerns. Those that had Monero trading pairs, even had to remove them.
However, the rise of popularity of decentralized exchanges allowed for more markets for Monero. Despite the fact that most of DeFi uses wrapped Monero, which does not have the privacy features of the original protocol, the price of XMR is still affected by trading there.

Monero on Twitter


Monero advocate John Foss stated a reason to be bullish on XMR: the network activity is continuously increasing. It means more adoption with users, which bolsters the value of XMR.


Trader Kawaii Crypto points at a possible breakout in the XMR/BTC pair. It means that XMR will outperform Bitcoin in the short term at the very least.


The Monero Club highlighted the importance of XMR in the world that has CBDCs. If other cryptocurrencies are pseudonymous and do not necessarily give away the identity of owners, CBDCs will be even more easily linkable to individuals.

Monero Price Prediction 2022

Analysis by CryptoNewsZ paints a bullish prospect for Monero’s price. They believe that the bullish impulse on the market is not yet exhausted, and in the best circumstances it can reach $282.
Prediction service Previsioni Bitcoin is even more optimistic. They see XMR at $452.10 in a month already, but by the end of the year its price will slightly decrease to $319.13.

YouTuber Lewis Jackson charts levels to look out for in Monero for this bull run. It is worth mentioning that his method of using linear Fibonacci retracement on a logarithmic scale is unconventional at best.
With that in mind, by combining technical and historical analysis, he sees a potential picture for Monero in 2022. The market bottom can land anywhere between $97-133, and his targets are at Fibonacci top level between $1,700-2,000. He can see Monero turning this into support and reaching a new ATH at $8,433.

Monero Price Predictions for 2023 and 2024

Prediction service by the TradingBeasts website forecasts some volatility for XMR in 2023. In mid-year, it will be trading lower with the predicted minimum of $109.302 but grow until the end of the year up to $221.892.
Even less bullish prospects for Monero in 2024 are seen in the prediction by Long Forecast. March 2024 will see XMR for $304 a piece, but by December its price will go down to $140.

Monero Price Prediction 2025

Prediction service Crypto-Rating claims that by 2025, Monero will secure wider acceptance by the public that wishes to keep their privacy. Their estimates place the target for 2025 at $4,421 per XMR.
Another service, PricePrediction.net keeps it modest. Their projected range for Monero in 2025 is between $708 and $866.10.
Similar XMR forecast is provided by TechNewsLeader: Monero will be traded in the range between $737.13 and 763.84.

Monero Price Prediction 2030

With the available data, it is still not reliable to project for the end of the decade. Many of the influencing factors may not even exist yet.
Today’s estimates for so far into the future can only be viewed as guesses. Captain Altcoin places the target for XMR in 2030 at $3,542.68, and Coin Price Forecast — at $501-526.

ChangeHero XMR Price Prediction

Today’s political climate seems to be a fertile ground for privacy coins. At the same time, very limited access to markets can stunt the growth even in these circumstances.
Monero has the potential to approach and exceed $500 and its current ATH. The only question is when, and it does not seem that this market cycle will take it there.

How to get XMR on ChangeHero?

If you already have crypto, you can use it to buy XMR on ChangeHero, it’s very easy:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your XMR wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives. 
    • The Best Rate transactions will use the rate current to the time when your funds arrive.
      The Fixed Rate will use the rate at the time of step 1;
  5. As soon as the exchange has been processed, your XMR are on the way to your wallet. 

ChangeHero’s customer support is available 24/7 in the chat on our website or through the email: [email protected].

Conclusion

Rising inflation, governments freezing assets and limiting access, upcoming regulations all favorably affect the reputation of privacy coins. Monero, being the oldest and most reliable one, faces competition but ultimately is the safest pick.
What do you think about our Monero price prediction? Let us know in the comments in our blog or in our social media: Twitter, Facebook, Reddit and in Telegram.

FAQ

[sc_fs_multi_faq headline-0=”h4″ question-0=”What is Monero and XMR?” answer-0=”Monero (XMR) is a peer-to-peer cryptocurrency protocol, characterized by its obfuscation of user addresses and amounts transferred, enabled by default.” image-0=”” headline-1=”h4″ question-1=”Is Monero a good investment 2022?” answer-1=”Recent news suggests that Monero is a popular asset, especially for the long term. Most of the experts have high confidence in XMR but following XMR news might be a good idea.” image-1=”” headline-2=”h4″ question-2=”What will Monero be worth in 2022?” answer-2=”According to different analysts, in 2022 the XMR price can renew an ATH at $8,433 or see a correction to $97.” image-2=”” headline-3=”h4″ question-3=”What will Monero be worth by 2025?” answer-3=”Depending on the source, XMR is expected to be in the range between $708 and $4,421 in 2025.” image-3=”” headline-4=”h4″ question-4=”What will Monero be worth in 2030?” answer-4=”By 2030, XMR is estimated to be worth between $501 and $3,542.68.” image-4=”” headline-5=”h4″ question-5=”Will Monero reach $1,000?” answer-5=”The most bullish predictions see XMR reaching $1,000 and going beyond it as soon as in 2022. Others push this milestone farther into the future to 2025.” image-5=”” count=”6″ html=”true” css_class=””]


Disclaimer

This article does not constitute financial or investing advice. No price prediction or forecast is guaranteed to provide exact information on the future price. Past performance is not indicative of future results.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.

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Author: changehero
September 2, 2021

Monero is a cryptocurrency protocol that by default masks information about the participants and amounts. Learn more about XMR in our guide!

What is Monero? Monero Beginner’s Guide

Most cryptocurrencies rely on pseudonymous but transparent ledgers, which leaves the users’ personal data unprotected. Thankfully, cryptography allows to hide this data from any uninvolved observer, and the currency making most use of it is Monero. What is Monero (XMR), how does it work and is it really legal? Learn in our Monero Beginner’s guide.

Key Takeaways

  • Monero is a decentralized cryptocurrency protocol that by default masks information about the transaction participants and amounts;
  • The protocol’s cryptocurrency uses the ticker XMR. You can mine it with a CPU, and each new block rewards approximately 0.88 XMR;
  • Monero (XMR) is legal even though there is a misconception that it sees significant criminal use.

What is Monero?

Monero logo
Source: Wikimedia Commons


First things first: what is Monero? It is a privacy-preserving cryptocurrency protocol, not very different from Bitcoin.

The main difference between Bitcoin and Monero is that in Bitcoin all transactions recorded on its blockchain are traceable. In Monero, though, addresses and transaction amounts are by default not disclosed to outsiders.

How does it achieve this? Of course, with the help of cryptography! One of the main techniques Monero uses for this is ring confidential transactions (RingCT).

Ring Confidential Transactions

Before and after Ring signatures
Source: Coinmonks – Medium


Ring signatures require all transactions to be broken into smaller amounts (0.2, 2, 5, 10…) and then these inputs are mixed. The protocol still can verify whether the sum of the inputs of one transaction checks out. 

To the observers it looks like an array of seemingly unrelated transaction outputs, and their exact breakdown is also unknown to them.

For example, if Alice sends Bob 0.63 XMR, it will break down into a random sum of outputs, like (0.5+0.1+0.03) XMR. The protocol will find other senders who transfer these amounts and link them. Only Bob knows that in the end, Alice sent him 0.5+0.1+0.03 = 0.63 XMR.

To prevent double spending, key images are sent along with outputs. Miners check whether a key image has appeared before on the blockchain, which means it is legitimate.

Stealth Addresses

In addition, a sender can create a one-time address, or stealth addresses on behalf of the recipient. This is because in Monero, there are three types of keys associated with an address: public, private spend key and private view key.

If Bob sends Alice any amount of XMR to a stealth address, Alice will be able to receive it because she has her view key. If she wants anyone else but Bob to link her stealth address with a public address, she can share the view key.

Monero’s History and Team

Nicolas von Saberhagen, a pseudonymous developer of Monero’s predecessor, the CryptoNote protocol, envisioned it in 2012. Bytecoin (BCN) was its first implementation.

It wouldn’t come as a surprise that the creator(s) of Monero project remain anonymous. They started the blockchain of Monero in 2014 with CryptoNote as the basis.

The Monero project is essentially a fork of Bytecoin with some changes to the protocol. The core team initially consisted of six members: Riccardo “fluffypony” Spagni, luigi1111, NoodleDoodle, smooth, tacotime, Franciso “ArticMine” Cabañas.

Over the years hundreds of known and unknown developers from the cryptography community have contributed to the codebase. To this day, Monero does not have a foundation or a corporate entity backing it, it is run purely by the community effort.

What is XMR?

Now that we know what Monero the protocol is, what is XMR Monero coin? Just the same as in Bitcoin, it is the native currency to make value transfers in the protocol.

Mining produces new coins exactly like in other Proof-of-Work cryptocurrencies. The Monero mining uses RandomX, which is an ASIC-resistant CPU-focused hashing algorithm.

Right now, a block reward for Monero is 0.88 XMR plus fees, and this is set to continue until 18,4 million XMR are mined. The current supply is estimated to be 17,985,216 XMR, and it is supposed to be reached in May 2022.

After this, it will switch to tail emission: a fixed block reward of 0.6 XMR until the total supply cap plus fees, which will continue perpetually.

What is Monero Used For?

As a privacy-preserving digital currency, Monero suits all kinds of payments. Online directories such as Cryptwerk and Accepted Here include thousands of merchants who accept XMR.

Since Monero is an anonymous currency, it is much safer to use for donations. WikiLeaks, Fight for the Future fund and Tutanota share the ideals of privacy and all accept XMR donations.

How is Monero Different from Bitcoin and Other Privacy Coins?

Fungibility

Aside from what was mentioned, Monero also has an important distinction from BTC and other cryptocurrencies: it is fungible.

Fungibility is a characteristic of ideal money and fiat currencies which refers to the ability of a unit to be interchangeable with other equivalent units. In Bitcoin, there is a concept of ‘tainted’ or ‘dirty’ coins which have been involved with addresses caught in illegal activity.

While theoretically, each BTC is interchangeable, in practice some service providers refuse to accept ‘dirty’ BTC. Since XMR comes with no such history, every coin in its total supply ever is fully fungible.

Privacy Features

In other privacy-focused coins, features that provide it are usually opt-in. With Monero, it is the other way around. To have one’s funds and transaction history be transparent, an address owner will have to share their view key.

When it comes to obfuscation techniques, Dash’s PrivateSend is somewhat similar in principle to Monero’s RingCT. The main difference in DASH vs Monero is PrivateSend requires a degree of trust in masternodes which are responsible for mixing outputs.

Stealth addresses in Monero and z-addresses in Zcash use different techniques to hide the destination. Stealth addresses are created on the recipient’s behalf, while a z-address must exist to receive ZEC privately.

Finally, Verge Currency offers only obfuscation of IP addresses, which is also optional. In contrast, Monero implements all privacy features of the protocol on-chain.

What is Monero Criticized For?

Due to its strong privacy, Monero is also frequently used in ransom attacks, cryptojacking and on the darknet markets. Chainalysis findings in 2020 confirm that while criminal use of Bitcoin is declining, altcoins and especially privacy coins get used more frequently.

Of course, due to the oblique nature of the Monero blockchain, it is impossible to determine what share of transactions involves illegal use. This has even led governments of Japan and South Korea to outright preemptively ban privacy-focused coins.

In July 2021, developers discovered a bug that could have exposed outputs of private transactions, if exploited. While a fix did not even require a hard fork at that time, they rolled out the patch that eliminated the bug only in August.

What is Monero’s Future?

According to Monero Outreach, the developer pipeline for 2021 includes Triptych/Acturus specifications and second layer solutions. (Monero-Bitcoin real-time atomic swaps have actually already been launched!)

Monero block time is 2 minutes, which is definitely faster, more scalable and guarantees lower transaction fees than Bitcoin. Nonetheless, researchers are still working on more scalability options like sharding or rollups.

For eample, Triptych is a ring signature specification that utilizes zero-knowledge proofs and is able to be verified more quickly in batches.

Monero (XMR) on Twitter

User Morpheus puts forward a value statement for Monero: a dip for some is a buying opportunity to others. XMR transactions are peaking while the Monero price is still relatively cheap.
User riskhaven highlights another unexpected strength of the anonymous coin: the Monero price did not take such a hit in a tumbling market.
A lot of the folks in the Monero community pick it for ideological reasons. If you wanted to experience at least some of the cypherpunk and anarcho-capitalism spirit of the early crypto, look no further.

How to Store Monero (XMR)?

And now that you are familiar with the fundamentals of Monero, it’s high time for some practical advice in this Monero Beginner’s guide.
Many multi-coin wallets support Monero, as it is a fairly popular altcoin. There is Cake Wallet, which is a BTC and XMR wallet, as well as official and unofficial XMR-exclusive apps.
Multi-currency wallet Exodus supports XMR, and in it you can seamlessly exchange it to other altcoins with ChangeHero. For safer storage, pick a Monero hardware wallet, for example, Trezor Model T.

How to Buy and Exchange Monero (XMR)?

Monero is a challenging coin to purchase with fiat currencies, since many centralized cryptocurrency exchanges choose to avoid it for regulatory concerns. How do you buy Monero coin then?

If you have other cryptocurrencies, you can easily swap them for XMR on ChangeHero. It only takes five steps:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. And now, relax! We are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
  5. As soon as the exchange has been processed, your XMR Monero are on the way to your wallet. We’ll be happy to hear your feedback if you enjoyed using ChangeHero.

Support team will assist you 24 hours, 7 days a week in the chat on our website, official Telegram group or through the email: [email protected].

Conclusion

Monero took every strong point from the Bitcoin protocol and further improved it by introducing privacy-preserving features. Seems like the only reason it struggles to find wider adoption is the misconception that only criminals use it.

This XMR Monero Beginner’s guide is only a part of the series: find the rest in our blog! For daily updates, subscribe to ChangeHero on Twitter, Facebook and Telegram.

Disclaimer

This article does not constitute financial or investment advice. Past performance is not indicative of future results.

When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed, perform your own research and be aware of those risks. Consider investing in cryptocurrencies only after careful consideration and analysis and at your own risk.


Learn more:

Quick links: