Zcash's Rise and BlockDAG's New Listings Pose a Threat to XMR's Dominance Among Privacy Coins
- Zcash overtakes XMR in market cap ($6.22B) after 14.8% surge, driven by Solana integration plans. - BlockDAG's potential Coinbase/Kraken listings ($430M presale) threaten XMR's privacy coin dominance. - XMR tests $2.43 support level amid descending triangle pattern, with 50% price move possible if key levels hold. - Privacy coin competition intensifies as Zcash's scalability upgrades and BDAG's liquidity allocations reshape capital flows.
Monero (XMR) is currently undergoing a phase of price consolidation as shifting market conditions and renewed enthusiasm for privacy-centric cryptocurrencies, along with new blockchain integrations, come into play. As a longstanding leader in anonymous digital transactions, XMR now faces increased price swings while contending with emerging competitors such as
According to
Further intensifying the situation for XMR are rumors about BlockDAG potentially being listed on major trading platforms such as Coinbase and Kraken. Documents leaked by influencer Crypto Rover indicate that BDAG might launch with trading pairs like BDAG/USDT and BDAG/USD, along with a 300K
From a technical perspective, XMR is currently challenging key support zones, with a fall below $2.43 potentially leading to a revisit of the $2.16–$1.76 range, as noted in reports on the leaked information. The coin remains confined within a descending triangle, squeezed between the 50-day EMA at $2.66 and a rising support base near $2.30. If XMR breaks above $2.72, it could spark a rally toward $3.25, in line with Fibonacci retracement targets and converging trendlines. Nevertheless, bearish sentiment persists, and a decisive drop below support could prolong the downward correction.
The wider cryptocurrency sector has demonstrated strength, with
Traders should keep an eye on both technical signals and broader market trends. While a 50% move for XMR is still on the table, it will depend on holding vital support and adapting to the rapidly changing privacy coin landscape.
---
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin Updates: Swiss Crypto Lending Offers 14% Returns Alongside Bank-Backed Insurance
- Swiss crypto lender Fulcrum offers 14% APR on stablecoins with Lloyd's insurance and FINMA regulation. - Platform uses 50% LTV over-collateralization and institutional-grade security to mitigate market risks. - Targets inflation-hedging investors by bridging traditional finance gaps with insured crypto yields. - Competes with alternatives like Bitget's zero-interest loans but emphasizes regulatory compliance and capital preservation.
Bitcoin News Update: Analyst Highlights How MSTR's Convertible Bonds Prevent Forced Bitcoin Sales
- MSTR's convertible debt structure allows debt repayment via cash, stock, or both, avoiding Bitcoin sales during market downturns. - The company raised €350M through a 10% dividend-bearing euro-denominated preferred stock offering to fund Bitcoin purchases. - Q3 results showed $3.9B operating income from Bitcoin gains, driving a 7.6% stock surge to $273.68 post-earnings. - Risks persist if Bitcoin fails to rally in 2028, potentially forcing partial liquidation amid $1.01B 2027 debt obligations. - MSTR hol
Solana News Today: Solana ETFs Surpass Bitcoin as Staking Returns Attract Institutional Investments
- U.S. spot Solana ETFs (BSOL/GSOL) attracted $199M in 4 days, outperforming Bitcoin/Ethereum ETF outflows. - 7% staking yields drive institutional inflows as investors rotate capital from major crypto assets. - Despite ETF success, SOL price fell below key support levels, raising concerns about $120 price floor. - Strategic staking and treasury purchases boosted Solana's institutional appeal, with $397M in staked assets. - Market remains cautious as ETF competition intensifies, with Bitwise's BSOL outpaci
Bitcoin News Today: Bitcoin’s Fourth Quarter Surge: Impact of Trade Disputes, Stronger Dollar, and Evolving Global Economic Strategies
- Bitcoin fell nearly 15% in October 2024, its worst quarterly start since 2022, driven by U.S.-China trade tensions, dollar strength, and macroeconomic caution. - A 100% U.S. tariff on Chinese imports and Fed rate-cut delays exacerbated selloffs, triggering $1.3B in liquidations during a flash crash below $103,000. - Key support levels at $107,000 and $101,150 face retests as traders warn of further declines, with market cap dropping below $3.6T amid fragile liquidity. - Wintermute denied Binance lawsuit
Trending news
MoreCrypto prices
More
