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Privacy Coin Monero Breaks Two-Year Price High As Corporations Prioritize Privacy
Summary: Privacy-focused Monero cryptocurrency broke past its two-year price record on Tuesday, according to data from CoinMarketCap. The currency reached as high as $157.64 and is currently trading hands at $151.97 and is down 2.62%. The privacy coin has been rallying for most of 2020 despite regulators trying to skirt around the coin's promises of untraceability ...
Privacy-focused Monero cryptocurrency broke past its two-year price record on Tuesday, according to data from CoinMarketCap.
The currency reached as high as $157.64 and is currently trading hands at $151.97 and is down 2.62%. The privacy coin has been rallying for most of 2020 despite regulators trying to skirt around the coin's promises of untraceability with know-your-customer and anti-money laundering laws.
Denis Vinokourov, head of research at the London-based prime Brokerage Bequant, told CoinDesk the increased demand for the privacy-focused token could be due to corporates’ growing worries about needing monero to pay ransom to hackers. Recent hacks at the U.S. Treasury Department and Google have caused corporations to worry more about the increasing skill of bad actors, which could lead them to purchase privacy coins in an effort to prepare, Vinokourov added.
By Emily Mason
Tags: Monero,Privacy Coins
Link: Privacy Coin Monero Breaks Two-Year Price High As Corporations Prioritize Privacy [Copy]
