What Is Monero (XMR)?
Monero was launched in 2014, and its goal is simple: to allow transactions to take place privately and with anonymity. Even though it’s commonly thought that BTC can conceal a person’s identity, it’s often easy to trace payments back to their original source because blockchains are transparent. On the other hand, XMR is designed to obscure senders and recipients alike through the use of advanced cryptography.
The team behind Monero say privacy and security are their biggest priorities, with ease of use and efficiency coming second. It aims to provide protection to all users – irrespective of how technologically competent they are.
Overall, XMR aims to allow payments to be made quickly and inexpensively without fear of censorship.
Who Are the Founders of Monero?
Seven developers were initially involved in creating Monero – five of whom decided to remain anonymous. There have been rumors that XMR was also invented by Satoshi Nakamoto, the inventor of Bitcoin.
XMR’s origins can be traced back to Bytecoin, a privacy-focused and decentralized cryptocurrency that was launched in 2012. Two years later, a member of the Bitcoin talk forum – only known as thankfulfortoday – forked BCN’s codebase, and Monero was born. They had suggested “controversial changes” to Bytecoin that others in the community disagreed with and decided to take matters into their own hands.
It’s believed that hundreds of developers have contributed to XMR over the years.
Monero Price Prediction
If you’re looking for Monero price predictions/forecast for 2022, 2023, 2024, 2025, 2030 and want to know where the prices of Monero (XMR) will go in the future? We will analyze the past prices of Monero (XMR) and will found out what experts are saying about its future price actions.
Please keep that in mind you need to take this prediction and every other prediction with the intention that this is only the suggestion of some market expert/analysts.
Not to mention predicting something so perfect is completely impossible. But we will try our best. Let’s start.
Monero (XMR) Price Prediction
At PricePrediction.Net we predict future Monero price predictions/XMR forecast by applying deep artificial intelligence-assisted technical Analysis on the past price data of Monero. We do our best to collect maximum historical data for the XMR coin which include multiple parameters like past price, Monero marketcap, Monero volume and few more. If you are looking to invest in digital cryptocurrencies and want good return on your investments, make sure to read our predictions.
Monero Price Prediction 2021
According to our deep technical analysis on past price data of XMR, In 2021 the price of Monero is predicted to reach at a minimum level of $194.32. The XMR price can reach a maximum level of $218.61 with the average trading price of $212.54.
Monero Price Prediction 2022
The price of Monero is predicted to reach at a minimum level of $303.35 in 2022. The Monero price can reach a maximum level of $362.33 with the average price of $311.85 throughout 2022.
XMR Price Forecast for 2023-2024
As per the forecast price and technical analysis, In 2023 the price of Monero is predicted to reach at a minimum level of $449.50. The XMR price can reach a maximum level of $523.69 with the average trading price of $461.97.
The price of 1 Monero is expected to reach at a minimum level of $654.62 in 2024. The XMR price can reach a maximum level of $779.44 with the average price of $677.71 throughout 2024.
Monero Price Prediction 2025
Monero price is forecast to reach a lowest possible level of $938.79 in 2025. As per our findings, the XMR price could reach a maximum possible level of $1,143.91 with the average forecast price of $965.90.
Monero Price Prediction 2026
According to our deep technical analysis on past price data of XMR, In 2026 the price of Monero is forecasted to be at around a minimum value of $1,492.78. The Monero price value can reach a maximum of $1,656.83 with the average trading value of $1,531.42 in USD.
Monero (XMR) Price Prediction 2027
The price of Monero is predicted to reach at a minimum value of $2,105.84 in 2027. The Monero price could reach a maximum value of $2,566.56 with the average trading price of $2,182.41 throughout 2027.
Monero Price Prediction/Forecast 2028
As per the forecast and technical analysis, In 2028 the price of Monero is expected to reach at a minimum price value of $2,940.92. The XMR price can reach a maximum price value of $3,708.51 with the average value of $3,050.04.
Monero (XMR) Price Prediction 2029
The price of Monero is predicted to reach at a minimum value of $4,266.37 in 2029. The Monero price could reach a maximum value of $5,278.87 with the average trading price of $4,388.37 throughout 2029.
Monero Price Prediction 2030
Monero price is forecast to reach a lowest possible level of $6,078.30 in 2030. As per our findings, the XMR price could reach a maximum possible level of $7,503.68 with the average forecast price of $6,253.83.
What Makes Monero Unique?
There are several things that make Monero unique. One of the project’s biggest aims is achieving the greatest level of decentralization possible, meaning that a user doesn’t need to trust anyone else on the network.
Privacy is achieved through a few distinctive features. Whereas each Bitcoin in circulation has its own serial number, meaning that cryptocurrency usage can be monitored, XMR is completely fungible. By default, details about senders, recipients and the amount of crypto being transferred are obscured – and Monero advocates says this offers an upper hand over rival privacy coins such as Zcash, which are “selectively transparent.”
Obfuscation is achieved through the use of ring signatures. Here, past transaction outputs are picked from the blockchain and act as decoys, meaning that outside observers can’t tell who signed it. If Ian was sending 200 XMR to Susan, this amount could also be split into random chunks to add a further level of difficulty.
To ensure that transactions cannot be linked to one another, stealth addresses are created for every single transaction that are only used once.
All of these distinctive features have led to XMR being increasingly used for illicit transactions instead of Bitcoin – especially on darknet markets. Governments around the world, especially the U.S., have also offered hundreds of thousands of dollars to anyone who can crack Monero’s code.
How Many Monero (XMR) Coins Are There in Circulation?
Monero is slightly unusual as a token sale wasn’t held for XMR — and no tokens were premined either. At the time of writing, the circulating supply of XMR stands at 17,703,471.
This cryptocurrency is designed to be resistant to application-specific integrated circuits, which are commonly used for mining new Bitcoin. In theory, this means that it can be possible to mine XMR using everyday computing equipment.
Overall, there will eventually be a total of 18.4 million XMR in circulation — and this cap is expected to be reached on May 31, 2022. After this, miners will be incentivized using “tail emissions,” with a small amount of XMR being fed into the system every 60 seconds as a reward. It is believed this approach is more effective than relying on transaction fees.
How Is the Monero Network Secured?
One of Monero’s main goals has to prevent centralization — and this network uses a consensus mechanism called CryptoNight, which is based on proof-of-work. This prevents large mining farms from becoming a dominant force.
Where Can You Buy Monero (XMR)?
Because of its nature as a privacy coin, XMR isn’t listed on some major exchanges. For example, although you can buy XMR on Binance, it isn’t supported by Coinbase. As a result, you may need to convert your fiat into Bitcoin and go through a smaller trading platform. This guide helps explain how you can convert fiat currencies into crypto with ease. As it’s use grows there has been increased interest in the XMR to AUD and XMR to EUR price pairs.